PICOGRAM Acquires Stake in EYESEL to Expand Business in Bio and Healthcare Fields

[Edaily, Reporter Lee Jung-hyun] May 26, 2023, 11:49 AM    https://www.edaily.co.kr/news/read?newsId=02233686635612856&mediaCodeNo=257

PICOGRAM Co., Ltd.(376180)(CEO, Sukrim Choi) announced on the 26th that it has acquired 24,000 shares, equivalent to a 12.7% stake, in EYESEL Co., Ltd., a stem cell-based beauty and healthcare company. The investment amount is approximately 3 billion KRW. EYESEL is a Bio-platform company that develops cosmetics, medical devices(such as Botox and fillers), beauty devices, and health functional foods based on stem cell stabilizing technology derived from human and plant cells. It recorded annual sales of 8.5 billion KRW and operating profit of 2.4 billion KRW last year. Currently, it exports its products to over 10 countries, including the United States and Russia, in addition to domestic sales.

Through this stake acquisition in EYESEL, PICOGRAM aims to expand its business into the beauty and healthcare fields, in addition to its existing water filter and purifier business. Furthermore, EYESEL plans to utilize PICOGRAM's domestic and international networks to expand its presence in the global market. 

Mr. Sukrim Choi, CEO of PICOGRAM, stated, "By combining EYESEL's advanced biotechnology with PICOGRAM's brand of home appliances for living environment, we plan to create new value. This stake acquisition decision is an important step for the company to enter the bio and healthcare business field, which we have been preparing for. We will explore ways for both companies to grow together through collaboration with EYESEL." 

PICOGRAM is currently a water filter specialist company that exports filters and purifiers to over 40 countries worldwide. In addition to its existing business sectors, it is preparing to expand into the bio and healthcare sector. In 2022, PICOGRAM obtained registration as a cosmetics manufacturer and seller to enter new business ventures. In the same year, in October, PICOGRAM and EYESEL signed a MOU for "technological development and investment cooperation for bio and healthcare business."