Carmell Sharpens Aesthetics Focus with Execution of Definitive Agreement to Sell Axolotl Biologix Subsidiary - Seite 2

In January 2024, Carmell announced the addition of several Key Opinion Leaders in the Aesthetics industry to their Scientific Advisory Board and commenced clinical product testing. The Company also completed commercial-scale manufacturing testing at its in-house clean room facility in Pittsburgh, PA. In preparation for commercial launch, the Company also implemented a fully functional direct-to-consumer online sales channel along with a backend logistics platform, an electronic Quality Management System and Oracle NetSuite ERP.

In February 2024, Carmell announced completion of product development of its Gold Limited Edition Exclusive (G.L.E.E.) product, Carmell’s first aesthetic product, for commercial launch in March 2024. Following G.L.E.E. launch, Carmell plans to launch 9 other skincare products that are in advanced stages of development and slated for launch through Summer 2024.

Following the sale of AxoBio, Carmell’s financial position is expected to improve as follows:

• $4 million drop in annualized cash burn (net of revenue) based on AxoBio’s actual January 2024 financials.
• $15.6 million reduction in debt: $7.6 million of AxoBio subsidiary level debt plus $8 million note payable related to the AxoBio acquisition.
• $7 million increase in tangible equity due to elimination of AxoBio’s negative tangible equity.
• 29% reduction in EPS dilution due to the return of 8.09 million CTCX common shares on a fully diluted basis. After closing, Carmell will have 19.25 million common shares outstanding.

About Carmell
Carmell is a bio-aesthetics company that utilizes the Carmell Secretome^TM to support skin and hair health. The Carmell Secretome^TM consists of a potent cocktail of growth factors and proteins extracted from allogeneic human platelets sourced from U.S. Food and Drug Administration-approved tissue banks. The technology underpinning the Carmell Secretome^TM has been extensively tested for safety and efficacy, significantly surpassing standards set by the aesthetics industry, including robust results from a prospective, randomized, multi-center Phase 2 human trial. Besides the Carmell Secretome^TM, the Company has developed a novel micellar nanoparticle formulation that enables delivery of lipophilic and hydrophilic ingredients without relying on the Foul Fourteen^TM, 14 potentially harmful excipients that are commonly used by other companies to impart texture, stability, and other desirable physicochemical attributes to cosmetic products. Additionally, Carmell’s micellar formulations do not utilize mineral or vegetable oils across their entire product line and are designed to be non-comedogenic. The Company is also developing a line of men’s products and a line of topical haircare products. All products are tailored to meet the demanding technical requirements of professional care providers and discerning retail consumers. For more information, visit www.carmellcosmetics.com.