FinTechFunding

Cellmid: Signs 10 year Chinese distribution agreemen

  • Shares in Australian-based company Cellmid (CDY) rose after it announced a 10-year agreement to distribute its anti-aging and skin care products in China
  • Cellmid signed the agreement with Hong Kong-based Ourui Health Management via its subsidiaries Advangen Limited and Advangen Inc
  • Then the agreement will grant Cellmid expansion into the Chinese market selling its Japanese consumer health products Ju-Ju and Lexilis
  • Ourui Health Management owned by beauty entrepreneur Steven Ko who co-founded the Australian beauty brand Red Earth and facemask brand SkinVitals
  • The agreement also extendable for an additional 10 years subject to distributor performance
  • CDY shares are up 4.55 percent on the back of the announcement, closing at 11.5 cents each
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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