Cellmid 2018 Annual Report 5
Advangen’s mission is to become first in class, best in
class for clinically validated anti-aging products. To
this end, in April 2018 the Company entered into an
exclusive distribution agreement with Swiss company Labo
International S.r.l, manufacturer of market leading anti-aging
skincare products. Through this Agreement, Advangen will
enjoy exclusive distribution rights in Australia and New
Zealand for Fillerina, a clinically validated, patented dermo-
cosmetic filler. In addition to contributing to Advangen’s
Australian revenues, this Agreement is expected to deliver
operational efficiencies through increased utilisation of
existing sales and marketing channels.
There has been solid progress through the reporting
period in both the midkine protein (Kinera) and antibody
(Lyramid) operating divisions. Midkine is attracting greatly
increased attention following the publication in early July
2017, in the premier scientific journal Nature, of a landmark
paper showing compelling evidence that midkine is
responsible for the metastatic spread of melanomas via the
lymphatic system. This work, together with other important
advances from the Company’s local and international
scientific collaborators, has greatly improved understanding
of the importance of midkine in many disease processes.
In particular, there is a growing body of evidence around
midkine’s role as a critical mediator of cell communication
and inter-organ signalling in a number of important diseases.
The Company’s scientific collaborators from 13 countries
gathered together over two days at the Midkine Symposium
in Munich in May 2018, and presented novel findings
which, amongst other things, confirmed our strategy for
Lyramid to progress its midkine inhibitors into the clinic.
These collaborations with well-credentialed scientists
and laboratories around the world provide cost-effective
research leverage and are a valuable asset of the Company;
it is our expectation that these collaborations will accelerate
our clinical development path.
Further details on progress in all three of the Company’s
operating divisions can be found in Maria’s CEO report.
On the corporate front, the Company has further
strengthened its board with two impressive additions during
the course of the year. The appointments of Dr Martin Cross
and Mr Dennis Eck bring a wealth of experience and wisdom
in biotechnology and consumer retailing, respectively. Dr
Cross has a distinguished record of achievement at senior
levels in the biotechnology sector; Dennis Eck brings to the
Board a long and successful experience in management in
retail industries, including valuable and particularly relevant
experience in the cosmetics and hair care sectors. We are
fortunate indeed to have the benefit of their wise counsel
on our board.
Once more our small but highly committed team of
professionals has performed admirably throughout the year,
under the inspired leadership of CEO Maria Halasz. Maria
is again especially deserving of our special thanks for her
determination and application in growing the company.
With the Company now more appropriately capitalised
than at any time in its history, we look forward with great
anticipation to rapid growth on all fronts; and better market
recognition to be reflected in the share price.
I thank all shareholders for their support throughout the year
and welcome the new shareholders who have joined us for
the exciting period ahead.
David King