Humedix, a subsidiary of Huons Global, said Thursday that it has signed technical transfer agreement for its Elravie Premier, a hyaluronic acid (HA) filler, with Spanish aesthetic company Sesderma.

Humedix CEO Chung Koo-wan (left) and Sesderma President Gabriel Serrano signed an agreement on technology transfer in Hong Kong on Wednesday.

Under the accord, Humedix will receive $2.5 million and gradually hand over the production technology for Elravie Premier, while SesDerma will be responsible for product licensing and marketing in Europe.

Humedix will also receive a nominal fee for Sesderma's hyaluronic acid filler sales for seven years after completing the technology transfer.

Sesderma is an esthetic company that has branches in more than 50 European and Latin America countries. It has an extensive distribution network and leadership in cosmetics market around the globe. The company has a strong relationship with Huons and agreed to import Huon’s Hutox, a botulinum toxin (BTX), and Dermashine Balance, a medical device, to Europe.

“We are very pleased to conclude a technology export contract with a major European company,” Humedix CEO Chung Koo-wan said. “Elravie Premier is recognized in the domestic market as an excellent, and we expect it would achieve good results in the European market, too.”

As the company has achieved an encouraging result of exporting its first technology to Europe, it will continue to expand its presence in the global market, he added.

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