ExoCoBio Inc. raises $9.3M in Pre-IPO Financing
SEOUL, South Korea, Aug. 25, 2020 /PRNewswire/ -- ExoCoBio Inc. announced that it recently raised $9.3 million in its series C and Pre-IPO funding. For this round, return VCs of K2 Investment Partners, SBI Investment Korea, and Dt & Investment were joined by new comers G.N.Tech/ReeHu Investment and Focus Assets Management. Especially, KNOTUS, No. 1 preclinical efficacy CRO in South Korea, made strategic investment into this exosome industry leader.
Since it was established in 2017, ExoCoBio has raised about $56.3 million accumulatively, maintaining the 4th largest exosome industry leadership in the world.
ExoCoBio has been launching a series of exosome-based aesthetic products which are innovative and brand-new items in regenerative aesthetics industry. Among them, ASCE+™, EXOMAGE™, and CELLTWEET™ are leading brands for skin rejuvenation, skin immune-modulation, and scalp rejuvenation.
ExoCoBio has continuously invested in R&D for exosome regenerative aesthetics and regenerative medicine. The efficacy of Stem Cell-Exosomes manufactured by ExoCoBio has been published in a series of scientific literature. 1) Stem Cell-Exosomes repair skin barrier and reduce systemic inflammation in two preclinical atopic dermatitis models and related papers were published in 2018 and 2020. 2) The most recent publication demonstrated the life-saving efficacy of Stem Cell-Exosomes in an acute kidney injury model. 3) The safety profile of its Stem Cell-Exosomes was also published in 2020.
As for the US market, ExoCoBio has established a strategic alliance with BENEV Company Inc., a globally recognized medical aesthetic brand and FDA registered manufacturer based in Orange County, CA. The brand is known for their scientifically advanced effective skin solutions, and network of medical professionals. 2019 marked the official US launch of the in tandem design between both companies with Exosome Regenerative Complex powered by ExoCoBio ExoSCRT™. Mr. Ethan Min, CEO of BENEV Company Inc. has solid confidence in the partnership between the two brands, having said "ExoCoBio's commitment to science, research and clinicals, is what made the decision to partner with them a winning choice." The remark is a far outcry from just positive thinking by the CEO, as the brand has gained thus far 450+ new medical professional customers since launching Exosome Regenerative Complex showing that he was indeed correct, and that this partnership will be a force to reckon with.
Mr. Sang Woo Kim, Managing Director of K2 Investment Partners said, "Since Series B round, I have been seeing the excellent growth of ExoCoBio. It is absolutely certain that ExoCoBio is No.1 startup in exosome-based regenerative medicine or aesthetics industry."
"We have seen many doctors and customers worldwide satisfied with the performance of our exosome products which lead fast regeneration and anti-inflammation simultaneously, unlike any other conventional products on the market. Based on this fast growth, ExoCoBio is trying to initiate the process of the IPO to be the first public exosome company in the world," said Byong Cho, CEO of ExoCoBio.
Exosomes are nano-vesicles between 30 and 200 nm, secreted by cells for intercellular signaling. They contain a variety of physiologically active substances and play key roles in important cellular processes. In particular, exosomes secreted by stem cells have been found to stimulate cellular or tissue regeneration and can be used for a wide range of applications such as skin and hair.
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SOURCE ExoCoBio Inc.