On January 2, Carmell, a company specializing in the bio-aesthetics sector, announced that it had signed a definitive agreement to acquire Elevai Skincare’s skincare and haircare business. With this acquisition, Carmell aims to integrate cutting-edge products leveraging stem cell-derived exosome technology into its platform, further strengthening its competitiveness in these markets.
The terms of the acquisition include approximately $1.1 million worth of Carmell common stock and a cash payment of roughly $57,000 upon the sale of specified inventory. Additionally, the agreement includes revenue-sharing provisions, such as paying 5% of the net sales from Elevai’s existing products over the next five years and a milestone payment of $500,000 if Elevai’s haircare products achieve $500,000 in net revenue within 24 months. Carmell will also assume Elevai’s contractual liabilities and trade payables.
Through this acquisition, Carmell expects to gain Elevai’s product portfolio, along with its commercial and product development team, inventory worth approximately $1 million, and accounts receivable of around $30,000. This is anticipated to contribute approximately $2.5 million in annual revenue to Carmell.
Rajiv Shukla, Chairman of Carmell, commented in a statement, “This acquisition will integrate one of the newest advances in stem cell-derived exosome technology into the Carmell platform, further cementing our status as the home of the best bio-aesthetic skincare science, Built by Biology just as Nature intended.”
Elevai Skincare is known for its science-based skincare and haircare products, particularly its physician-dispensed solutions utilizing stem cell-derived exosome technology. The company’s innovative approach is redefining standards in the skincare and haircare markets.
Meanwhile, Carmell continues to innovate with its proprietary technology, the “Carmell Secretome™,” which supports skin and hair health. This technology uses growth factors and proteins extracted from human platelets sourced from FDA-approved tissue banks, offering high efficacy and safety. The company has also developed a unique microemulsion formulation that eliminates harmful additives commonly used in other products while maintaining desirable texture and stability.
This acquisition is expected to further strengthen Carmell’s leadership in the bio-aesthetics market and accelerate its growth trajectory.