Humedix (200670.KQ) is stepping up efforts to expand sales of its hyaluronic acid filler brand Elravie in China.
The Huons Group affiliate said on the 23rd that it signed an agreement on the 22nd at Huons Group's Pangyo headquarters to extend its strategic partnership with Beijing Jingzhi for the distribution of HA fillers in China.
Beijing Jingzhi is a specialist distributor with a nationwide network in medical devices and beauty products, along with expertise in securing local regulatory approvals. Humedix first signed an exclusive distribution agreement with the company in 2022 and has maintained the relationship since.
Under the renewed contract, the two companies plan to build on that partnership and use the local distribution network to strengthen Elravie's brand position in the Chinese filler market.
The companies will also ramp up marketing tailored to Chinese consumers and run academic symposiums and training programs for local physicians. The aim is to highlight the advantages of premium HA fillers and increase market share.
Humedix said it will use Beijing Jingzhi's nationwide medical network to secure professional, offline-centered customer touchpoints, while also pursuing a combined online and offline strategy in step with trends in China's fast-growing aesthetics and cosmetic surgery market.
The company plans to use the renewed agreement as a platform to expand not only in China's filler market but also in other overseas markets through further partnerships.
"The two companies are continuing this partnership based on the trust built up over the years and on proven product quality," a Humedix official said. "Through a thorough localization strategy and professional marketing, we will produce tangible results in the Chinese filler market."