Croma-Pharma GmbH Announces Strategic Milestone as Novaestiq Corp. Joins Waldencast

Saypha® injectables to launch in the U.S. under the Obagi Medical brand, expanding global reach of Croma's science-driven aesthetic solutions

LEOBENDORF, Austria, July 23, 2025 /PRNewswire/ -- Croma-Pharma GmbH, a global leader in minimally invasive aesthetic medicine, today announced the acquisition of Novaestiq Corp. by Waldencast plc (Nasdaq: WALD). Novaestiq, a joint venture between Croma-Pharma and Gore Range Capital, is the company behind the innovative Saypha® ChIQ™ and Saypha® MagIQ™ injectable hyaluronic acid gels, which are set to launch in the U.S. under the Obagi Medical brand.

This transaction marks a key milestone in Croma-Pharma's international growth strategy and reinforces its commitment to providing scientifically validated, high-quality products for the global aesthetic market.

"We are thrilled to see Novaestiq join forces with Waldencast, a move that amplifies our shared commitment to advancing aesthetic medicine," said Andreas Prinz, CEO of Croma-Pharma GmbH. "The introduction of Saypha® ChIQ™and MagIQ™ to the U.S. market under the Obagi Medical brand marks a significant step in delivering innovative, science-driven aesthetic solutions to patients worldwide."

Saypha®, developed and manufactured by Croma-Pharma, is a globally recognized line of hyaluronic acid (HA) injectables known for their safety, efficacy, and high patient satisfaction. With over 40 years of experience in HA products, Croma-Pharma has produced more than 110 million syringes to date, and its fillers are approved in over 80 markets worldwide. The company maintains a dedicated focus on aesthetic medicine and offers a broad portfolio of minimally invasive treatments.

The upcoming U.S. launch of Saypha® injectables, currently undergoing the FDA approval process,¹ is supported by a robust clinical program, including pivotal studies that exceed industry standards in size and diversity. These trials reflect Obagi Medical's and Croma-Pharma's shared commitment to inclusivity and scientific excellence in aesthetic care.

"This partnership is a testament to the strength of our innovation pipeline and our ability to collaborate with visionary partners," added Prinz. "We are confident that Waldencast and Obagi Medical will successfully bring Saypha® to a new generation of U.S. physicians and patients."

About Croma-Pharma GmbH

Founded in 1976, Croma-Pharma GmbH is a family-owned global player in the field of minimally invasive aesthetic medicine. Headquartered in Leobendorf, Austria, the company specializes in the industrial production of hyaluronic acid syringes and distributes its products in more than 80 countries. Croma offers a comprehensive aesthetics portfolio including HA fillers, botulinum toxin, PDO threads, and biostimulators. Learn more at www.croma.at.

About Waldencast

Founded by Michel Brousset and Hind Sebti, Waldencast's ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast's vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand's distinct DNA. The first step in realizing its vision was the business combination with Obagi Medical and Milk Makeup. As part of the Waldencast platform, its brands will benefit from the operational scale of a multi-brand platform; the expertise in managing global beauty brands at scale; a balanced portfolio to mitigate category fluctuations; asset light efficiency; and the market responsiveness and speed of entrepreneurial indie brands. For more information please visit: https://ir.waldencast.com/.

About Obagi Medical

Obagi Medical is an industry-leading, advanced skincare line rooted in research and skin biology, with a legacy of 35+ years of experience. Initially known for its leadership in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Medical products are designed to address a variety of skin concerns, including premature aging, photodamage, skin discoloration, acne, and sun damage. As the fastest-growing professional skincare brand in the U.S. in 2024,² Obagi Medical empowers individuals to achieve healthy, beautiful skin. More information about Obagi Medical is available on the brand's website, https://www.obagi.com. 

About Gore Range Capital

Gore Range Capital is a committed investor in innovation and excellence in skin health. With a focus on creating impactful medical solutions, Gore Range Capital continues to pave the way for next-generation products that offer transformative results for physicians, patients and consumers. Until this transaction, Novaestiq was a joint-venture between Croma Pharma and Gore Range Capital that developed dermal fillers for the North American market. Learn more at: https://www.gorerangecapital.com/.

¹Saypha® products are not approved medical devices, and each product has a premarket approval (PMA) application under review by the FDA. ² Among the Top 10 Professional Skin Care Brands in the U.S., According to Kline's 2024 Global Professional Skin Care Series (China, Europe and the U.S.).

Contact

Valentin Gruber
[email protected]

www.cromapharma.com