SEOUL, South Korea–(BUSINESS WIRE)–Dec 3, 2021–
DEXLEVO has accomplished its pre-IPO funding of KRW 26 billion. It thus elevated its valuation by six instances in comparison with the Sequence B funding in 2018 due to its commercialization efficiency reminiscent of acquiring the European Union’s CE certification on the liquid polymer filler (product title: GOURI) in Might of this 12 months. The corporate plans to construct a brand new cGMP-grade (present Good Manufacturing Apply) manufacturing facility in Songdo with the proceeds raised this time and begin advertising its flagship product.
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DEXLEVO’s GOURI, the world’s 1st Totally Liquid sort PCL Injectable. (Graphic: Enterprise Wire)
In accordance with business sources on November 25, DEXLEVO has accomplished a complete of KRW 26 billion in pre-IPO funding from present buyers reminiscent of Magna Funding, Smilegate Funding, Hyundai Enterprise Funding Corp., and Shinhan Capital. Magna Funding and Smilegate Funding every paid KRW 10 billion, whereas Hyundai Enterprise Funding and Shinhan Capital contributed KRW 4 billion and KRW 2 billion, respectively, in alternate for brand new shares (unusual shares).
Magna Funding paid the funds by means of the Hana-Magna Development Booster Fund, a fund collectively created with Hana Monetary Funding.
DEXLEVO set the pre-investment valuation of itself at KRW 250 billion throughout the pre-IPO funding course of. On the time of the Sequence B spherical in 2018, the pre-investment valuation was about KRW 40 billion. That is greater than six instances in comparison with three years in the past. The quantity of funding additionally elevated 30% from KRW 20 billion initially anticipated by the corporate and present buyers.
This appears to be associated to the current successive commercialization performances of DEXLEVO. Beginning with acquiring a CE certification of GOURI, its flagship merchandise, in Might this 12 months, it participated as a predominant sponsor of the Aesthetic and Anti-aging Medication World Congress (AMWC), the world’s largest magnificence honest, in September the place it launched the GOURI model for the primary time. At AMWC, it additionally signed a $30 million provide contract with abroad consumers.
DEXLEVO was based in 2013 by CEO Jaewon Yoo, who labored for Samyang Company and Celltrion Inc. The corporate’s liquid polymer filler has attracted the market’s consideration by regenerating collagen within the physique along with easy beauty results of inducing anti-aging outcomes. With the aim of itemizing on the KOSDAQ market round 2023, it chosen Hana Monetary Funding as the principle underwriter.
An official from DEXLEVO mentioned, “Presently, curiosity in GOURI from abroad is rising considerably. The funds raised this time can be used for the development of a brand new cGMP-grade manufacturing plant in Songdo in Incheon and aggressive advertising effort, in order that we will obtain nice gross sales income progress subsequent 12 months.”
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CONTACT: DEXLEVO
Advertising and marketing Division
Chris Jeong
KEYWORD: EUROPE SOUTH KOREA ASIA PACIFIC
INDUSTRY KEYWORD: SURGERY MEDICAL DEVICES FINANCE FITNESS & NUTRITION PROFESSIONAL SERVICES OTHER HEALTH HEALTH COSMETICS RETAIL
SOURCE: DEXLEVO
Copyright Enterprise Wire 2021.
PUB: 12/03/2021 02:41 AM/DISC: 12/03/2021 02:41 AM
Copyright Enterprise Wire 2021.
