SEOUL, South Korea–(BUSINESS WIRE)–Feb 11, 2022–
Korea is predicted to enter the super-aging period on the quickest charge globally, and a variety of its customers available in the market are anticipated to be comprised of its aged inhabitants. Because the economically competent senior era is attracting consideration attributable to its shopping for energy, varied anti-aging merchandise are being launched into the wonder market. In response to Hebronstar, which makes a speciality of administration consulting, the home anti-aging market is predicted to develop at a median annual charge of 13.2%, with cosmetics main 75% of this progress, adopted by the medical sector (18%) and repair sector (7%).
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The first Totally Liquid kind PCL Injectable for Basic Pores and skin Anti-Getting old care. (Graphic: Enterprise Wire)
Given the transition of the senior era into a brand new main shopper class, the pores and skin magnificence market is trending towards minimally invasive and non-invasive procedures that may cowl getting old past magnificence. Botulinum toxin and hyaluronic acid filler are the anti-aging procedures that presently lead the market. Nevertheless, these merchandise have clear limitations when it comes to their lasting effectiveness. As well as, owing to the intensified competitors as a result of market’s low entry obstacles, customers’ potential to discern the standard of varied merchandise stays restricted.
DEXLEVO is a enterprise firm that has attracted important curiosity attributable to its growth of modern merchandise, such because the world’s first profitable liquid polymer fillers. The corporate emerged with a pre-investment valuation of KRW 250 billion through the pre-IPO funding course of in November of final 12 months.
Purpose to enter the worldwide skincare market
Based in 2013, DEXLEVO develops magnificence merchandise primarily based on biodegradable polymer know-how. After important analysis, the corporate developed the world’s first liquid polymer fillers. DEXLEVO’s liquid polymer filler is in a liquid kind when outdoors the physique, in contrast to present small particle formulations. Nevertheless, when injected into the physique, it transforms into particles and regenerates collagen within the pores and skin to precise anti-aging results. Jaewon You—the CEO of DEXLEVO—mentioned, “Whereas we had been in search of an merchandise after setting our enterprise route within the skincare discipline, we paid consideration to the truth that biodegradable polymer filler merchandise, which had been well-liked in Korea on the time, are in small particle kind and are solely utilized in restricted areas such because the nasolabial folds.” He added, “By liquefying it, we now have developed the world’s first liquid polymer filler with out restrictions on use and unintended effects.”
DEXLEVO’s liquid polymer filler is completely different from present fillers in that it promotes collagen regeneration inside the pores and skin. Current fillers even have a collagen regeneration impact. Nevertheless, since they’re within the type of particles, it’s inconceivable to inject them into the pores and skin evenly. Thus, these fillers might solely be used for topical areas similar to nasolabial folds. Nevertheless, DEXLEVO solved this limitation. When a excessive molecular compound is injected into the pores and skin in liquid kind, it may be utilized in varied areas by regenerating collagen across the pores and skin whereas reworking it into small particles inside the pores and skin.
Based mostly on differentiated know-how, DEXLEVO secured a European CE marking for the liquid polymer filler underneath the model identify ‘GOURI’ within the first half of 2021, thereby laying the inspiration for its entry into the worldwide market. As well as, upon launching ‘GOURI’ at AMWC, DEXLEVO signed provide contracts with native corporations in Spain, Saudi Arabia, UAE, Europe, Southwest Asia, and Latin America. Jaewon You said, “With GOURI, which has obtained European CE (a conformity mark of EC directives) certification since 2022, we’re getting into into native markets in Europe, the Center East, and Latin America. In Korea, the product approval course of can be accomplished by 2022 and the product can be launched in 2023, following which medical trials with the US FDA will proceed.”
Secured an funding worth of KRW 250 billion
Jaewon You, who gained sensible expertise at Samyang Company and CELLTRION, noticed nice potential within the skincare market given the fast restructuring of society into an getting old one. Jaewon You said, “Within the pharmaceutical and biofields similar to anticancer medicine and medicines for treating uncommon illnesses, it isn’t straightforward to compete with world Massive Pharma when it comes to monetary energy and analysis potential, however I believed that we had adequate competitiveness within the skincare discipline globally.” He added, “Korea has a excessive curiosity in beauty procedures attributable to its tradition that values extroversion, and I seen this as a possibility to make the most of our glorious medical personnel and manufacturing base.”
With the profitable launch of ‘GOURI’ in 2021, DEXLEVO, which participated as the principle sponsor of AMWC and signed a provide contract value about 30 million {dollars}, raised KRW 26 billion in pre-IPO funding final November. Current shareholders, which included MAGNA funding and HANA monetary funding (KRW 10 billion), Smilegate Funding (Smilegate Aphrodite Serve One Fund; KRW 10 billion), Hyundai Enterprise Funding (Hyundai Youth Fund No. 2; KRW 4 billion), and Shinhan Capital (KRW 2 billion), participated within the pre-IPO funding.
Apparently, the funding worth was set at 250 billion gained, which is roughly six occasions greater than the pre-investment customary (collection B of KRW 40 billion in 2018). Jaewon You said, “The unique funding was deliberate to be KRW 20 billion, however it was elevated to KRW 26 billion attributable to energetic funding requests from present shareholders who extremely evaluated the corporate’s future progress potential.” He added, “Along with present shareholders, many enterprise capitalists and personal fairness (PE) companies additionally expressed their intention to take a position, however the present shareholders alone exceeded the deliberate funding, so the exterior funding was excluded.”
Moreover, Jaewon You said, “The way forward for DEXLEVO is vital, and I imagine that an IPO shouldn’t be the purpose, however that the IPO will observe. The last word purpose is to change into the primary firm within the world magnificence trade.”
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CONTACT: DEXLEVO
Advertising and marketing Division
Chris Jeong
KEYWORD: EUROPE SOUTH KOREA ASIA PACIFIC
INDUSTRY KEYWORD: WOMEN SENIORS OTHER RETAIL MEN OTHER HEALTH BIOTECHNOLOGY CONSUMER HEALTH COSMETICS RETAIL
SOURCE: DEXLEVO
Copyright Enterprise Wire 2022.
PUB: 02/11/2022 01:03 AM/DISC: 02/11/2022 01:03 AM
