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Cosmos Health Advances Commercialization of CCX0722 Weight Management Solution with Completion of Pilot Production and Scale-Up Phases; Significant Step Towards Entering $143Bn Global Market
Cosmos Health (NASDAQ:COSM) announced the successful completion of the pilot production and scale-up phases for its weight management solution, CCX0722, a biocompatible hydrogel. These milestones mark the end of the development phase, following earlier project updates such as the initiation in November 2022, the completion of the second phase in June 2023, and a European patent filing in December 2023. The hydrogel exhibited a swelling ratio of over 100 g/g, a significant improvement confirmed during the scale-up process. Cosmos Health anticipates completing additional key steps by the end of 2024, including clinical trials and preparing CCX0722 for classification as a Type III medical device. The global weight management market, valued at $142.58 billion in 2022, is projected to reach $298.66 billion by 2030, driven by rising obesity rates. CEO Greg Siokas expressed enthusiasm for entering this lucrative market, while R&D Advisory Board member Dr. Panagiotis Zoumpoulakis highlighted the commitment to advancing healthcare solutions.
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