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Picogram acquired shares of Eyesel “Expansion of business in bio and healthcare”

  • DATE
    2023-05-26 16:13:05
  • HIT
    1778

[E-Daily Reporter Lee Jung-hyun] Picogram (376180) (CEO Choi Suk Rim) announced on the 26th that it had acquired 12.7% of the stock by purchasing 24,000 shares of Eyesel, a stem cell-based beauty and health care company. The investment amount is about 3 billion won.



Eyesel is a bio platform company that develops cosmetics, medical devices (Botox, fillers, etc.), beauty devices, and health functional foods based on stem cell stabilization technology derived from human and plant cells. Last year, it recorded annual sales of 8.5 billion won and operating profit of 2.4 billion won, and is currently exporting its products not only to Korea but also to more than 10 countries including the US and Russia.

 

Picogram plans to expand its business to the beauty and healthcare fields in addition to the existing filter and water purifier business through the acquisition of Eyesel's stake. In addition, Eyesel plans to expand the global market by utilizing Picogram's domestic and international networks.

 

Choi Suk Rim, CEO of Picogram, said, "We plan to create new value by adding Eyesel's advanced biotechnology to the Picogram living environment brand. Since this decision to acquire the stake is an important step to announce Picogram’s full-fledged entry into the bio-healthcare business field we have been preparing for so far, we will seek ways for both companies to develop together through collaboration."

 

Picogram is a specialized filter company that currently exports water purifiers and filters to more than 40 countries around the world. In addition to the existing business sector, it is preparing to expand its business in the bio-healthcare sector. In order to enter the new business, it completed registration for cosmetics manufacturing and sales in 2022, and in October of the same year, it signed a business agreement with Eyesel for ‘technology development and investment cooperation for bio-healthcare business’.


[Source : Edaily, Reporter Lee Jung-hyun]