KEXING BIOPHARM CO.(SH:688136) Zheng Quan Shi Bao Wang·2025-12-17 11:09Core Viewpoint - Kexing Pharmaceutical's subsidiary has made significant progress in the field of recombinant type III collagen, with its product entering clinical trials, indicating a strong potential in the aesthetic medicine market [1][4]. Group 1: Product Development and Clinical Trials - Kexing Medical's recombinant type III humanized collagen product has passed clinical trial registration and has begun enrolling participants for its first trial [1]. - The product aims to treat dynamic wrinkles on the forehead through a clinical study designed to evaluate its effectiveness and safety [1][2]. - The company has also submitted a registration application for its second-class medical device, a collagen dressing [1]. Group 2: Technological Advantages and Market Potential - The recombinant type III collagen is derived from advanced biotechnology, ensuring high biocompatibility and bioactivity, which mitigates the risk of immune rejection associated with traditional animal-derived collagen [2]. - This collagen type is crucial for youthful skin and addresses aging signs such as wrinkles, making it a focal point in aesthetic medicine [2]. - The market for recombinant type III collagen in aesthetic applications is expanding rapidly, with a projected retail market size for aesthetic injectables in China expected to grow from 309 billion yuan in 2019 to 670 billion yuan in 2023, reflecting a compound annual growth rate (CAGR) of 21.4% [3]. Group 3: Strategic Positioning and Future Outlook - Kexing Medical has previously launched products in the consumer sector, including collagen masks and serums, which have gained popularity in Southeast Asia [4]. - The entry into clinical trials for the recombinant collagen product marks a significant milestone in the company's R&D and commercialization efforts in the aesthetic field [4]. - The company plans to continue focusing on the aesthetic medicine sector, emphasizing technological innovation and the development of high-quality products to meet market demands [5].