PharmaResearch Accelerates Global Market Expansion with Investment from Global Private Equity Fund CVC
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 Seock, Kim Thinkyou), 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 Europe-based
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 €180 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 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 Thinkyou, 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.”
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.”