Thursday, April 28, 2016
Merz Pharma has made a strategic venture investment in Cytrellis Biosystems, a US based company developing a new class of non-surgical products to combat sagging skin associated with aging.
Merz has joined a growing set of industry investors to back Boston-based Cytrellis Biosystems. The investment emphasizes Merz’ strategy to allocate venture investment focused on the areas of anti-aging, skin rejuvenation and body shaping. And it’s the latest example of Cytrellis’ strategy to selectively attract investors who bring specific aesthetic industry expertise.
“As a young and innovative company with an experienced team, Cytrellis has the potential for a successful market launch of a revolutionary technology in the field of aesthetic medicine”, said Hans-Jörg Bergler, Head of Global Corporate Development and member of the Merz Pharma Board. “For Merz, the investment in Cytrellis ideally fits our current venture strategy, which is dedicated to aesthetics.”
Cytrellis is a Boston based, clinical stage company that has been developing an entirely new category of medical devices for the aesthetics market. Cytrellis’ key proprietary technology removes excess skin without invasive surgery or scarring. This technology will enable physicians to improve sagging skin associated with aging on the face and other areas of the body and thereby address one of the aesthetic industry’s largest unmet needs and most valuable opportunities.
“We’re delighted to have Merz as a strategic investor,” Doug Levinson, CEO and co-founder of Cytrellis. “From the outset, we’ve sought to selectively engage investors that can extend Cytrellis’ access to aesthetics industry expertise. This investment from Merz allows us to achieve this goal. Merz has a remarkable depth of overall industry expertise in the global aesthetics market, and a wealth of medical device experience gained through the successful launches of Ultherapy® and Cellfina™.”
In June 2015, Merz announced plans to fund investments in the global aesthetics market through corporate venture capital. “The global aesthetics market is growing fast and continues to present attractive investment opportunities for promising technologies to bring real benefit to patients and physicians,” says Bergler.
The allocation of venture capital in cooperation with other investment partners is part of the long-term innovation and growth strategy of Merz. Through the acquisitions of Neocutis, Anteis and BioForm Medical, Merz has substantially expanded its presence in the aesthetics space in recent years. Most recently, the acquisition of Ulthera, with its advanced ultrasound technology platform, has accelerated Merz’s growth in aesthetics and enhanced the company’s ability to provide innovative treatments along the full continuum of care.
Source : merz.com
