London, 22 February 2018
Sinclair Pharma plc (AIM:SPH.L) (“Sinclair” or the “Group”), the international aesthetics company, announces that its contract with ThermiGen LLC (“Thermi”), an Almirall SA company, for the sale and distribution of Silhouette InstaLift™, Silhouette Refine™ and Silhouette Lift® (“Products”) in the US will terminate by mutual agreement, with effect from 31 March 2018. Sinclair will pay to Thermi a one-off, undisclosed payment for the early termination and will regain the full US distribution rights for the Products.
Chris Spooner, CEO of Sinclair, commented:
The Silhouette brand has experienced very strong growth from a loyal customer base in multiple territories. To date, it has been used in around 200,000 procedures worldwide demonstrating excellent clinical outcomes and a strong safety profile. Silhouette InstaLift™ is the only FDA-cleared injectable treatment to have a mid-face lift claim and has been well accepted in the US, with very positive feedback from both physicians and patients as demonstrated by the recent publication of a 100 patient study in the Aesthetic Surgery Journal by leading US plastic surgeon, Professor Julius Few. Advanced discussions with potential US partners are ongoing and we expect to enter into an alternative arrangement effective from 1 April which would ensure that this highly differentiated product remains available to doctors and customers, and that we maximise its potential in the very important US market”.
Thermi will continue to supply customers with product until 31 March when the contract terminates. In order to ensure continuity of supply to customers thereafter, Sinclair has agreed to buy back Thermi’s remaining inventory.
For more information download announcement PDF