ASX-listed biotech Cellmid has teamed up with anti-counterfeiter YPB to help sell hair loss treatments into China.
“Evolis” branded shampoos and hair tonics will start rolling out from Cellmid (ASX:CDY) with YPB QR code technology so Chinese consumers can verify their authenticity.
QR-codes are data-rich bar codes that can be read with a mobile phone.
Cellmid says factors such as pollutants, hormones and stress stop the growth of hair — but their formulation blocks any negative triggers.
Cellmid claims 97 per cent of customers experience less “hair fall” over a 120-day trial period.
The YPB (ASX:YPB) QR codes will allow Cellmid to capture data about who is using their products.
“Knowing the customer behind each sale means that we can become partners in their hair health and provide tailored, personalised information and products to suit their individual needs,” said Cellmid chief Maria Halaszsaid.
The news did little to budge shares of either small cap on Tuesday. CDY was trading down 5 per cent at 1.9c and YPB down 5.4 per cent at 3.5c.
Evolis is already sold in Australia, Japan and the US but the strategic move into China comes as research suggests that one in four Chinese men are going bald.
The 2015 survey results, released by the state media at the time, showed twenty five percent of the 5779 men surveyed from the major cities were losing their hair.
They say it all comes down to irregular routines including smoking as well as high levels of mental stress.
Cellmid chief executive Maria Halasz said the partnership would transform their move into China.