International Stem Cell Corporation’s (ISCO) president, Donna Queen told CosmeticsDesign-Asia.com; “Generally speaking, Asians are very receptive to emerging technologies and several markets throughout the region have shown a lot of interest in our biotech approach to skin care.”
With cosmetic sales in mainland China estimated at approximately $8 billion a year and with an annual growth rate of over 10 percent, Queen says; “we feel the Chinese market represents an enormous growth opportunity for our ‘Lifeline Skin Care’ products.”
Demand = expansion opportunities
According to Queen, Japan, Taiwan, Vietnam and China are all long term opportunities that will allow ISCO to cater to a region that prioritises ‘skin appearance over body image.’
Whilst she tells this publication that the company’s move into the Asia-Pacific region will be rewarding, Queen also notes that the markets will be challenging in the sense that they “require patience, investment, and heavy relationship building.”
Know your market
The biotechnology company appears to have done its research on the market by ensuring that it is following proper procedures by collaborating with a Chinese partner, Brilliant Sunrise SBC, to take care of importation and regulatory approval paperwork while extending its range through pharmaceutical company, Sinopharm Group.
"Through our collaborations we will remain focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products."
First to incorporate stem cell technology
ISCO’s scientists are said to have been the first to create a parthenogenetic, homozygous stem cell line that caters to differing genders, ages and racial backgrounds with minimal immune rejection after transplantation.
The company considers its technology to be an effective alternative to embryonic, adult, and plant-based stem cells. Instead it extracts bioactive growth factors and peptides from non-embryonic stem cells.
“This technology thus enables stem cells to send out messaging molecules so that neighboring cells can create new cells and/or repair damaged tissue,” explains Queen.