Fusion Aesthetics Enters Global Licensing Agreement with South Korea's GCS for Silk Fibroin-Based Hyaluronic Skincare Product
On September 9, 2024 (Beijing Time), Fuxiang Aesthetics officially signed a global licensing agreement for silk fibroin aesthetic products with GCS Co., Ltd., a renowned South Korean medical aesthetics enterprise. This collaboration marks the first License-Out of an original Chinese medical aesthetics product to a developed overseas country.
Under the agreement, GCS Korea will obtain global rights (excluding mainland China) to an aesthetic product from Fuxiang Aesthetics based on its fibroin technology. Fuxiang Aesthetics will receive a double-digit percentage of global sales royalties for the product. GCS will also secure the right of first negotiation for Fuxiang Aesthetics’ third-generation fibroin-based medical aesthetic dermal filler. The total potential transaction value of this cooperation agreement and subsequent collaborations could reach hundreds of millions of U.S. dollars.
The two parties will also jointly establish a collaborative R&D team, focusing on the development of next-generation medical aesthetic dermal fillers and skin booster product lines based on high-quality silk fibroin. This collaboration not only marks the first overseas licensing of an original Chinese medical aesthetic product but also demonstrates Fuxiang Aesthetics’ global leadership in high-quality silk fibroin technology, ushering in a new chapter for Fuxiang Aesthetics in the global medical aesthetics market. The licensing of product rights by Chinese medical aesthetic enterprises to developed countries signifies that Chinese companies and products now possess globally leading technical capabilities in the medical aesthetics field, representing a significant milestone as China’s medical aesthetics industry enters its 2.0 phase.
Figure 1. Dr. Liu Yezhuo, Founder and Chairman of Fuxiang Aesthetics; Mr. Zhang Shuaixin, Co-founder and CEO; Mr. Kim Chang-sik, CEO of GCS Korea; and Ms. Song Shanshan, Senior Vice President, at the signing ceremony in Suzhou, China
Since its establishment in 2020, Fuxiang Aesthetics has remained committed to original innovation. Its core R&D team comprises outstanding talents from top universities worldwide and seasoned professionals with backgrounds in renowned international enterprises. Through close collaboration with prestigious research institutions such as Fudan University, Huashan Hospital, and Zhongshan Hospital, Fuxiang Aesthetics has successfully overcome technical challenges in the field of silk fibroin, achieved multiple innovative scientific outcomes, and continuously advanced the innovative application of silk fibroin technology and industry progress.
Fuxiang Aesthetics has achieved green manufacturing of high-molecular-weight, high-purity silk fibroin, establishing a complete industrial chain that spans from basic research and industrialization to the commercialization of end products. The company holds more than 30 intellectual property rights, has participated in the formulation of multiple industry standards, and completed master file registration with the Center for Medical Device Evaluation (CMDE) of the National Medical Products Administration. These achievements have solidified its position as a global leader in medical-grade regenerated silk fibroin, setting it as an industry benchmark for silk fibroin biomaterials.
Fuxiang Aesthetics’ technological breakthroughs have not only established a new image for biotechnology both domestically and internationally but have also turned silk fibroin into a “Chinese calling card” for novel biotech raw materials. Currently, the company is strategically focusing on the consumer healthcare sector, with its third-generation medical aesthetic fillers being global firsts that demonstrate superior performance in areas such as anti-aging volumization and safety. Its products and technologies are showcasing unique appeal and strength on the international stage, positioning silk fibroin as a new trendsetter in the global medical aesthetics market.
GCS Co., Ltd. of South Korea is a global leader in the medical aesthetics industry, renowned for its exceptional technological innovation and high-standard product quality. The company boasts a portfolio of blockbuster aesthetic products, including GANA Fill, the world’s second poly-L-lactic acid (PLLA) biostimulator (“baby face injection”), which is marketed in China through a partnership with Huadong Medicine/Sincere Aesthetics, the parent company of the well-known domestic product Ellansé (“girl’s needle”). Its extensive product line spans medical aesthetic devices, medical consumables, and other sectors, with its cosmetic and plastic surgery products sought after in 57 countries worldwide. GCS Co., Ltd.’s international certifications and professional services underscore its leadership position in the industry, while its global regulatory affairs certification base and dedicated R&D team further demonstrate its strong market competitiveness. As not only a pioneer of Korean medical aesthetic technology but also a renowned brand in the international market, GCS Co., Ltd. represents the pinnacle of the industry.
Through this collaboration, GCS will integrate the licensed silk fibroin aesthetic products into its global sales system, leveraging its worldwide regulatory and commercial footprint, thereby further enhancing the competitiveness of its product pipeline. Meanwhile, this partnership will also elevate Fuxiang Aesthetics’ influence in the global market. By capitalizing on GCS’s global distribution network, the latest generation of silk fibroin medical aesthetic products will be rapidly introduced to benefit consumers worldwide. Together, GCS and Fuxiang Aesthetics will drive innovation and globalization in the medical aesthetics sector. This collaboration not only marks a significant step in the internationalization of Chinese medical aesthetic enterprises but also serves as international recognition of Fuxiang Aesthetics’ proprietary technologies and product quality.