DEXLEVO Liquid Polymer Charge Raises KRW 26 Billion in Pre-IPO Funding | Your money

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SEOUL, South Korea – (BUSINESS WIRE) – Dec. 3 2021–

DEXLEVO has finalized its pre-IPO financing of KRW 26 billion. It thus increased its valuation sixfold compared to Series B financing in 2018 thanks to its marketing performance such as obtaining CE certification from the European Union on liquid polymer filler (product name: GOURI) in May. of this year. The company plans to build a new cGMP (Current Good Manufacturing Practices) grade production facility in Songdo with the proceeds collected this time around and start marketing its flagship product.

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DEXLEVO GOURI, the world’s first fully liquid-type injectable PCL. (Graphic: Business Wire)

According to industry sources, on November 25, DEXLEVO finalized a total of KRW 26 billion in pre-IPO financing from existing investors such as Magna Investment, Smilegate Investment, Hyundai Venture Investment Corp. and Shinhan Capital. Magna Investment and Smilegate Investment paid KRW 10 billion each, 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 created jointly with Hana Financial Investment.

DEXLEVO set its own pre-investment valuation at KRW 250 billion during the pre-IPO funding process. At the time of the Series B round of funding in 2018, the pre-investment valuation was around KRW 40 billion. This is more than six times compared to three years ago. The amount of funding also increased by 30% from the KRW 20 billion initially expected by the company and existing investors.

This seems to be linked to the recent successive marketing performances of DEXLEVO. Starting with obtaining CE certification from GOURI, its flagship product, last May, it participated as a main sponsor of the Aesthetic and Anti-aging Medicine World Congress (AMWC), the largest trade fair in the world. beauty to the world, in September when she 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 caught the market’s attention by regenerating collagen in the body in addition to the simple cosmetic effects that induce skin damage. anti-aging results. With the aim of being listed on the KOSDAQ market around 2023, it has selected Hana Financial Investment as its main underwriter.

A DEXLEVO official said: “Currently, interest in GOURI from abroad is increasing dramatically. be able to record strong revenue growth next year. “

View source version on businesswire.com:https://www.businesswire.com/news/home/20211202006086/en/

CONTACT: DEXLEVO

Sales department

Chris Jeong

[email protected]

KEYWORD: EUROPE SOUTH KOREA ASIA PACIFIC

INDUSTRY KEYWORD: SURGERY MEDICAL DEVICES FINANCE FITNESS AND NUTRITION PROFESSIONAL SERVICES OTHERS HEALTH HEALTH COSMETICS RETAIL TRADE

SOURCE: DEXLEVO

Copyright Business Wire 2021.

PUB: 12/03/2021 02:41 / DISC: 12/03/2021 02:41

http://www.businesswire.com/news/home/20211202006086/en

Copyright Business Wire 2021.


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