Suneva Adds Spear Product LineThursday, May 24, 2012
San Diego-based aesthetics company Suneva Medical is expanding its product line for the dermatology, plastic and cosmetic surgery markets with the recent acquisition of a product portfolio from Spear Pharmaceuticals.
Although the privately held company declined to disclose financial terms of the deal announced May 21, Suneva Medical CEO Nick Teti said acquiring the worldwide rights to Refissa and its marketed generic equivalent is expected to be a key driver of revenue growth during the next five years.
The prescription anti-aging cream Refissa is a new formulation of tretinoin, a derivative of vitamin A that contains the same active and inactive ingredients as Renova .05 percent. Calling Refissa the gold standard topical treatment, Teti said it has the strength, formulation and a broad indication for fine facial lines, hyperpigmentation and tactile roughness unlike any other tretinoin cream on the market today.
Acquiring the Spear portfolio augments Suneva’s skin care products Artefill, which is a long-acting dermal filler wrinkle correcting cream, and ReGenica, a regenerative cell-based anti-aging cream. It also adds to a set of three skin care products Suneva inlicensed from Histogen earlier this year.
“It’s an excellent package of products to bring in right now,” said Teti, who expects to expand its staff of 65 employees with marketing and sales professionals.