Carmell Therapeutics Corporation (CTCX)
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Carmell Announces Closing of Elevai Skincare Acquisition
PITTSBURGH, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused on skin and hair health (“Carmell”, the “Company”, “we”, “our”, or “us”), today announced the closing of the previously announced acquisition of the skin and hair care business of Elevai Skincare, Inc. (“Elevai”), a leader in physician dispensed exosome skin and hair care products, pursuant to a definitive purchase agreement with PMGC Holdings Inc. (formerly Elevai Labs Inc.) (“PMGC”) and Elevai, its wholly owned subsidiary (the “Acquisition”). At the closing of the Acquisition (the “Closing”), the purchase consideration consisted of the following: Approximately $1.1 million of Carmell common stock at a price of $0.8488 per share as follows: 1,149,226 shares of Carmell common stock at Closing, plus; 117,814 shares of Carmell common stock held back by Carmell to secure indemnification obligations of PMGC and Elevai for 12 months after Closing; Approximately $57,000 in cash to be paid by Carmell upon the sale of specified inventory existing as of the Closing; and Carmell's assumption of contractual liabilities and trade payables of Elevai at the Closing.
Carmell Announces Closing of Previously Announced PIPE Investment from Existing and New Investors to Support Commercial Build-out
PITTSBURGH, Jan. 03, 2025 (GLOBE NEWSWIRE) -- Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused on skin and hair health (“Carmell”, the “Company”, “we”, “our”, or “us”), today announced the closing of its previously announced private placement with new and existing investors pursuant to a securities purchase agreement, dated December 23, 2024, for the issuance and sale of 8,065,210 shares of its common stock and an equal number of five-year warrants both priced at $0.23 per share, in a private placement for aggregate gross proceeds of $1.85 million before deducting offering expenses and fees (the “Private Placement”). The Private Placement was priced at a slight premium to the CTCX closing price on December 23, 2024.
Carmell Announces Execution of Definitive Agreement to Acquire Elevai Skincare, a leader in Physician Dispensed Exosome Skin and Hair Care Products
PITTSBURGH, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused on skin and hair health (“Carmell”, the “Company”, “we”, “our”, or “us”), today announced that it entered into a definitive purchase agreement with PMGC Holdings Inc. (formerly Elevai Labs Inc.) and its wholly owned subsidiary, Elevai Skincare Inc. (“Elevai”), to acquire the assets related to its skincare and haircare business (the “Acquisition”). The purchase consideration for the Acquisition is as follows: Approximately $1.1 million in Carmell common stock at the closing of the Acquisition (the “Closing”); Approximately $57,000 in cash upon the sale of specified inventory existing as of the Closing; Contingent earnout consideration consisting of: 5% of net sales from Elevai's existing products paid annually during the 5-year period following the Closing, and a one-time milestone payment of $500,000 if Elevai's hair and scalp products achieve $500,000 in net revenue within 24 months following the Closing; and Carmell's assumption of contractual liabilities and trade payables of Elevai at the Closing.
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Carmell Therapeutics Corporation Profile
| Biotechnology Industry | Healthcare Sector | Rajiv Sarman Shukla CEO | NASDAQ (CM) Exchange | 142922103 Cusip |
| US Country | 9 Employees | - Last Dividend | - Last Split | - IPO Date |
Overview
Carmell Corporation, initially known as Carmell Therapeutics Corporation, was established in 2008. This transformative shift in branding, taking place in November 2023, symbolizes the company's broader scope within the bio-aesthetics industry, reflecting its commitment to advancing skin and hair health through innovative biotechnology. Operating out of its headquarters in Pittsburgh, Pennsylvania, Carmell Corporation embodies technological innovation and ethical responsibility, standing at the forefront of bio-aesthetic advancements. By harnessing the power of Carmell Secretome, derived from allogeneic human platelets, the company has pioneered a unique approach to skincare and haircare that emphasizes both efficacy and safety, setting a new standard in the sector. Additionally, Carmell Corporation's strategic partnership with Carnegie Mellon University underscores its commitment to cutting-edge research and development, particularly in the realm of biocompatible plasma-based plastics, blending the lines between biological sciences and aesthetic applications.
Products and Services
Carmell Secretome for Skin and Hair Health: Central to Carmell Corporation's product line is the Carmell Secretome, an innovative blend of growth factors and proteins meticulously extracted from allogeneic human platelets. This blend is pivotal in supporting the vitality and wellness of both skin and hair, showcasing the company's dedication to leveraging natural healing mechanisms for cosmetic enhancement. It epitomizes the seamless integration of biotechnology and aesthetic care, providing a solid foundation for their product development.
Microemulsion Formulation: Addressing the industry's growing demand for safer cosmetic formulations, Carmell Corporation has developed an advanced microemulsion technology. This proprietary formulation excels in delivering both lipophilic and hydrophilic ingredients effectively, without the reliance on "The Foul Fourteen" — a list of 14 potentially harmful excipients traditionally used for texture, stability, and other features in cosmetic products. This innovative approach not only ensures product safety but also enhances the overall efficacy of their offerings, marking a significant leap forward in cosmetic science.
Men’s Products Line: Recognizing the unique skincare and haircare needs of men, Carmell Corporation is in the process of developing a dedicated line of products geared specifically towards this demographic. This venture into men’s products showcases the company’s commitment to diversity and inclusivity in beauty and personal care solutions, underscoring a holistic approach to bio-aesthetic development that caters to all genders.
Topical Haircare Products: Building on its expertise in skin health, Carmell Corporation is also venturing into the creation of topical haircare products. Aimed at addressing various hair concerns through scientifically-backed solutions, this line of products is expected to leverage the therapeutic potential of the Carmell Secretome, ensuring hair vitality and strength from the roots to the tips. This expansion signifies the company’s ambition to encompass a broad range of bio-aesthetic needs, providing holistic solutions for both skin and hair care.
Biocompatible Plasma-Based Plastics: Under a licensing agreement with Carnegie Mellon University, Carmell Corporation is at the cutting edge of developing and commercializing biocompatible plasma-based plastics. This endeavor not only highlights the company’s pioneering spirit in the realm of material science but also accentuates its commitment to sustainability and innovation. Through this project, Carmell Corporation is poised to offer revolutionary materials that could redefine the standards of biocompatibility and environmental responsibility in the bio-aesthetics industry and beyond.
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