New injectable on the horizon targets the "double chin"
October 25, 2012
The advent of Facebook, the IPhone and Skype has placed the double chin front and center. Certainly, the image of yourself you see, using any of these devices, face pointed downward, is likely to be with folds of chin fat. Kythera Biopharmaceuticals is capitalizing on this trend. They went public in October 2012 on the strength of ATX-101, an injectable drug aimed at reducing the double chin.
Seeking Alpha, October 15, 2012, the investment company reporting on this trend, says the offering was very successful. “The company sold 4.4 million shares for $16 each. Kythera raised $70 million in gross proceeds in the offering process.” Twenty-five percent of the company’s shares were offered in total on Thursday, October 11th. By Friday, the closing price was $19.79 per share and the company was valued at $344 million.
Kythera, which was founded in 2005, partners together with German-based Bayer outside of the North American market. Bayer recently completed two important trials of ATX-101 in Europe and the positive results encouraged them to submit the injectable for European approval. Results from tests in the United States and Canada are expected to come in mid-2013.
Kythera is planning to focus all its efforts on the facial aesthetics market, which represents the biggest chunk of the overall aesthetic market. According to the American Society for Aesthetic Plastic Surgery, the aesthetics market is growing by leaps and bounds; consumers spent $10 billion on 9.2 million surgical and nonsurgical aesthetics procedures in 2011.
The eventual success of Kythera rests on the ability of plastic surgeons and other qualified specialists to sculpt chins using this injectable. Currently, there’s been a rise in people getting chin implants for augmentation. If you’re interested in chin augmentation, the American Society for Aesthetic Plastic Surgery recommends that you consult with a board-certified specialist who has had experience in performing this procedure and operates out of a hospital or accredited office-based facility.
The American Society for Aesthetic Plastic Surgery (ASAPS), is recognized as the world's leading organization devoted entirely to aesthetic plastic surgery and cosmetic medicine of the face and body. ASAPS is comprised of over 2,600 Plastic Surgeons; Active Members are certified by the American Board of Plastic Surgery (USA) or by the Royal College of Physicians and Surgeons of Canada and have extensive training in the complete spectrum of surgical and nonsurgical aesthetic procedures. International Active Members are certified by equivalent boards of their respective countries. All members worldwide adhere to a strict Code of Ethics and must meet stringent membership requirements.
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