Ceapro announced its entry into the end-user cosmeceuticals market through the acquisition of Quebec-based company, Juvente
Ceapro is a growth-stage biotechnology company focused on the development and commercialisation of active ingredients for healthcare and cosmetic industries. Jean-Guy Boulet, Founder of Juvente, will join Ceapro as General Manager of this newly-formed, fully-owned subsidiary of Ceapro.
Gilles Gagnon, President and CEO of Ceapro, said: “We have worked diligently over the last twelve months with different companies to evaluate opportunities to expand our product portfolio with the development of formulations that utilise our two value drivers, beta glucan and avenanthramides.”
“Juvente successfully developed very impressive formulations and we are thrilled with the completion of the acquisition of Juvente. This acquisition is an important step forward in executing on a strategic market diversification and expansion plan to further de-risk our business and represents an opportunity that enables our entry into a high-end market valued at $5 billion.”
“This all-cash $650K investment in JuventeDC is the first outcome from our strategic assessment of scenarios to increase our market share in cosmeceuticals, our base business.”
Boulet said: “I am very excited to join the Ceapro team and continue to drive value into the Company with our new generation of anti-ageing skincare products utilising both beta glucan and avenanthramides. The Juvente products have been thoroughly assessed by trained panels and received positive feedback from focus groups, including some anecdotal cases where improvement of mild to moderate cases of psoriasis, eczema, as well as some relief of joint pain were reported.”
Ceapro has commenced the commercialisation of the following Juvente skin care products:
Gagnon said: “The Ceapro team has always believed that the most effective cosmeceutical formulations would include our two value drivers together, as compared to many existing formulations containing only one of Ceapro's active ingredient per brand. The Juvente skin care product line executes this strategy perfectly and we are incredibly encouraged by the reported anecdotal cases with improvement of more severe skin conditions.”
“We remain focused on our strategic pathway forward exploring and clinically validating new product applications for avenanthramides and beta glucan in nutraceutical and pharmaceutical markets, while continuing to grow our customer base and presence in the personal care market.”
The Company expects to launch four new innovative products to this line in 2018.