Waldencast plc announced the acquisition of Novaestiq Corp. and the U.S. rights to the Saypha® line of hyaluronic acid (HA) injectable gels, significantly expanding Obagi Medical's portfolio. This strategic move positions Obagi Medical to enter the U.S. dermal filler market, which is projected to reach $2 billion by 2029. The acquisition effectively doubles Obagi Medical's addressable market to approximately $4.2 billion by 2029, combining its existing $2.2 billion medical-grade skincare market with the new dermal filler segment.
The Saypha® line, currently undergoing U.S. Food and Drug Administration (FDA) approval, is globally recognized for its safety and efficacy, utilizing proprietary MACRO Core Technology for natural-looking results. This technology creates a stable 3D HA matrix designed for consistent gel distribution and predictable injection force. The transaction includes cash payable at closing, ongoing royalties, and contingent issuance of Waldencast Class A shares based on FDA approval and cumulative net revenue thresholds of $100 million and $200 million by June 20, 2031.
This acquisition is a pivotal step in transforming Obagi Medical into an industry leader in integrated skincare and aesthetic solutions, offering a synergistic approach where potent skincare and professional procedures work in tandem. The company aims to become the #1 Dermatological Mega Brand, uniquely serving the needs of physicians, patients, and consumers globally.
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