DEXLEVO's Liquid Polymer Filler Raises KRW 26 Billion in Pre-IPO Funding
DEXLEVO has completed its pre-IPO funding of KRW 26 billion. It thus increased its valuation by six times compared to the Series B funding in 2018 thanks to its commercialization performance such as obtaining the European Union’s CE certification on the liquid polymer filler (product name: GOURI) in May of this year. The company plans to build a new cGMP-grade (current Good Manufacturing Practice) production facility in Songdo with the proceeds raised this time and start marketing its flagship product.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202006086/en/
DEXLEVO's GOURI, the world's 1st Fully Liquid type PCL Injectable. (Graphic: Business Wire)
According to industry sources on November 25, DEXLEVO has completed a total of KRW 26 billion in pre-IPO funding from existing investors such as Magna Investment, Smilegate Investment, Hyundai Venture Investment Corp., and Shinhan Capital. Magna Investment and Smilegate Investment each paid KRW 10 billion, while Hyundai Venture Investment and Shinhan Capital contributed KRW 4 billion and KRW 2 billion, respectively, in exchange for new shares (ordinary shares).
Magna Investment paid the funds through the Hana-Magna Growth Booster Fund, a fund jointly created with Hana Financial Investment.
DEXLEVO set the pre-investment valuation of itself at KRW 250 billion during the pre-IPO funding process. At the time of the Series B round in 2018, the pre-investment valuation was about KRW 40 billion. This is more than six times compared to three years ago. The amount of funding also increased 30% from KRW 20 billion originally expected by the company and existing investors.
This seems to be related to the recent successive commercialization performances of DEXLEVO. Starting with obtaining a CE certification of GOURI, its flagship item, in May this year, it participated as a main sponsor of the Aesthetic and Anti-aging Medicine World Congress (AMWC), the world's largest beauty fair, in September where it launched the GOURI brand for the first time. At AMWC, it also signed a $30 million supply contract with overseas buyers.
DEXLEVO was founded in 2013 by CEO Jaewon Yoo, who worked for Samyang Corporation and Celltrion Inc. The company's liquid polymer filler has attracted the market's attention by regenerating collagen in the body in addition to simple cosmetic effects of inducing anti-aging outcomes. With the goal of listing on the KOSDAQ market around 2023, it selected Hana Financial Investment as the main underwriter.
An official from DEXLEVO said, "Currently, interest in GOURI from overseas is growing significantly. The funds raised this time will be used for the construction of a new cGMP-grade production plant in Songdo in Incheon and aggressive marketing effort, so that we will be able to achieve great sales revenue growth next year."
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Altasciences Chosen by Virpax Pharmaceuticals, Inc. to Conduct First-in-Human Study of Epoladerm™ for Chronic Pain Associated with Osteoarthritis of the Knee21.1.2022 17:00:00 CET | Press release
Altasciences is pleased to have been chosen by Virpax® Pharmaceuticals, Inc. (“Virpax”) (NASDAQ:VRPX) to conduct a first-in-human study of Epoladerm™ (diclofenac epolamine) for chronic pain associated with osteoarthritis of the knee. This treatment is supplied in a pre-filled device for administration as a topical spray film. The study will be conducted in Q2 2022 at Altasciences’ clinical pharmacology unit in Montreal, Canada. “We look forward to working with Altasciences to accelerate the development of this analgesic treatment and provide robust data in support of the 505(b)(2) FDA approval pathway,” stated Virpax’s Chairman & CEO, Anthony P. Mack. Virpax’s proprietary technology provides a pre-filled canister for the therapeutic application of a clear, fast-drying spray film that is thinner than a standard liquid bandage. This technology offers convenience and eliminates the need for messy creams or gels. Altasciences leverages decades of experience conducting first-in-human clinic
OMRON Healthcare Remote Patient Monitoring Services Win “Best of” Honors at CES 202221.1.2022 16:21:00 CET | Press release
OMRON Healthcare, Inc., the global leader in remote blood pressure monitoring and personal health technology, spotlighted its new remote patient monitoring services at the 2022 Consumer Electronics Show (CES) and won “Best of” honors for its offerings in the U.K. and U.S: Hypertension Plus by OMRON in the U.K. was selected as a TWICE Picks Awards winner for the 2022 TWICE, Residential Systems and TechRadar Pro Picks Awards VitalSight™ by OMRON in the U.S. was recognised as an INSIDER “Best of” CES selection These remote patient monitoring services gained recognition at the world’s largest innovation show as breakthrough health technology designed to foster greater active health condition management, strengthen the patient-physician connection, and guide behavior change to reduce health risks, while advancing the company’s mission of Going for Zero heart attacks and strokes. “OMRON developed Hypertension Plus as the first step toward transforming chronic care in the U.K., while VitalSig
Schlumberger Announces Fourth-Quarter and Full-Year 2021 Results21.1.2022 12:50:00 CET | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2021. Fourth-Quarter Results (Stated in millions, except per share amounts)Three Months EndedChangeDec. 31, 2021Sept. 30, 2021Dec. 31, 2020SequentialYear-on-yearRevenue* $6,225 $5,847 $5,532 6% 13% Income before taxes - GAAP basis $755 $691 $471 9% 60% Net income - GAAP basis $601 $550 $374 9% 61% Diluted EPS - GAAP basis $0.42 $0.39 $0.27 8% 56% Adjusted EBITDA** $1,381 $1,296 $1,112 7% 24% Adjusted EBITDA margin** 22.2% 22.2% 20.1% 2 bps 208 bps Pretax segment operating income** $986 $908 $654 9% 51% Pretax segment operating margin** 15.8% 15.5% 11.8% 31 bps 401 bps Net income, excluding charges & credits** $587 $514 $309 14% 90% Diluted EPS, excluding charges & credits** $0.41 $0.36 $0.22 14% 86% Revenue by Geography International $4,898 $4,675 $4,343 5% 13% North America* 1,281 1,129 1,167 13% 10% Other 46 43 22 n/m n/m $6,225 $5,847 $5,532 6% 13% *Schlumberger divested certain businesses i
ZuluTrade - World’s Largest Social Trading Platform Joins the Finvasia Group21.1.2022 12:08:00 CET | Press release
ZuluTrade is strongly positioned to become the biggest and the largest broker neutral social trading platform with acquisition by Finvasia Group. 2022 will see ZuluTrade strengthening its current capabilities and widen its product line by venturing into different markets and financial instruments. The expansion will include contemporary asset classes like cryptocurrencies and traditional asset classes like stocks and bonds. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220120005780/en/ ZuluTrade - World’s Largest Social Trading Platform Joins the Finvasia Group (Graphic: Business Wire) ZuluTrade has been at the forefront of copy trading for more than a decade and has helped over a million investors across more than 100 countries trade a volume of over USD 2 trillion. ZuluTrade 2.0 Future plans include launching a more engaging social investing platform with enhanced social and technology features, built on ZuluTrade’s curre
Ipsen Nominates Karen Witts as New Independent Board Member21.1.2022 07:00:00 CET | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220120006035/en/ Karen Witts (Photo: Business Wire) Ipsen (Euronext: IPN; ADR: IPSEY) announced today the nomination of Karen Witts to its Board of Directors as independent member. Karen Witts was Group CFO at Compass Group Plc until October 2021. Compass is the world’s leading food service company, operating in 43 countries and employing more than 500k people. She was responsible for corporate strategy and planning, business performance management and reporting, financial reporting and control, tax and treasury activities, M&A, internal audit and enterprise risk management, investor relations, and led the digital and technology function. Prior to this, Karen was Group CFO at Kingfisher Plc, the international home improvement company. She has also held various senior strategic finance positions at companies including Vodafone Group Services Ltd, and BT Plc. She
Peru Is Presenting Itself at FITUR 2022 as a Bio-safe Destination, Committed to Outdoor Experiences21.1.2022 02:48:00 CET | Press release
Peru is in attendance at the 42nd edition of FITUR 2022 to position itself as a safe and ready destination for international travellers, motivating them to rediscover the South American country, reported the Comisión de Promoción del Perú para la Exportación y el Turismo [Peruvian Export and Tourism Promotion Commission] (PROMPERÚ). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220119005812/en/ Inauguration of the Peru stand at FITUR 2022 by the executive president of PROMPERÚ, Amora Carbajal. ©PROMPERÚ In line with its promotion and recovery strategy, Peru is presenting a delegation made up of 19 co-exhibitors in order to show off the best of its tourist offering in the nature, adventure and culture segments. Likewise, it announced its collaboration with the Asociación Española de Agencias de Incentivos – IdeMICE, in order to enhance the attributes of the destination in this segment. In addition, the executive president of
McAfee Continues to Provide Leading Online Protection to Consumers21.1.2022 02:40:00 CET | Press release
Today, McAfee Corp. (NASDAQ: MCFE, “McAfee”), a global leader in online protection, provided an update regarding its pure-play consumer offering and the previously announced divestiture of its enterprise business. In July 2021, McAfee completed the sale of its enterprise business. This transaction allowed McAfee to singularly focus on its consumer business and accelerate its strategy to be the leader in online protection for consumers. “McAfee continues to safeguard the privacy, security and identity of our consumers as the digital world evolves rapidly,” said Gagan Singh, Executive Vice President & Chief Revenue and Product Officer, McAfee. “We continue to stand firm that meaningful protection is a personal right for consumers and have recently rolled out major updates and industry firsts, including McAfee Total Protection and Protection Score, that look out for consumers online, including their privacy and identity.” The McAfee Enterprise business was purchased by Symphony Technology