- Accelerate Overseas Business Expansion via Partnership with CVC
- Strengthen Market Position via Overseas M&As and R&D Investments
September 5th, 2024 - PharmaResearch (co-CEOs: Kang Ki-Seok, Kim Shin-Kyu), a leader in aesthetic injectables and regenerative medicines renowned for its flagship skin booster product “Rejuran”, announced a significant milestone in its global market expansion efforts, securing KRW 200 billion investment from global private equity firm CVC through the issuance of redeemable convertible preferred shares (RCPS). Extending beyond capital injection, this investment will enable the company to accelerate overseas market entry through strategic partnership with CVC.
CVC is a leading global private equity firm that manages over €193 billion of AUM, and has a strong investment track record in the healthcare industry across Europe and other key global markets. PharmaResearch aims to leverage CVC’s extensive Asian and global network and experience to achieve rapid and stable penetration into new international markets. As a strategic partner, CVC will provide valuable network and resources to support PharmaResearch’s market expansion and strengthen the company’s global competitiveness.
PharmaResearch plans to utilize the newly secured funds primarily for strategic overseas M&As and the establishment of local subsidiaries to implement region-specific go-to-market strategies and rapidly expand its presence in these markets. The company also intends to utilize the funds to upgrade its R&D capabilities and expand its product pipeline through acquisitions. Investments in innovative product development as well as existing product enhancements are expected to strengthen the company’s product portfolio, leading to increased global competitiveness by delivering greater value to its international customers.
Kim Shin-Kyu, CEO of PharmaResearch, stated, "With CVC’s investment and partnership, PharmaResearch is now in a stronger position to enhance its global market presence and continue focusing on developing innovative products and services. We are committed to delivering value to our customers and shareholders as we continue our journey towards becoming a global leader.”
With our global network and experience, CVC is fully committed to supporting PharmaResearch’s continued growth in the global market and to contributing to the growth of the K-beauty industry globally.
Kyoo-Cheol Chris Rhee CVC Head of Korea
Kyoo-Cheol Chris Rhee, CVC’s Head of Korea, remarked, “CVC is delighted to partner with a company like PharmaResearch.” and added, “With our global network and experience, CVC is fully committed to supporting PharmaResearch’s continued growth in the global market and to contributing to the growth of the K-beauty industry globally.”