EX Healthcare Secures ₩1 Billion Investment from Korea Credit Guarantee Fund

2024-10-14 MoneyToday
Original News

EX Healthcare (CEO Lee Yong-hee) announced on the 14th that it had secured a ₩1 billion (approximately $740,000) investment from the Korea Credit Guarantee Fund (KODIT) on the 10th.

In addition to this investment, the company is successfully progressing through its Pre-Series A funding round with additional investments from organizations such as the Agricultural Policy Insurance & Finance Service, Korea Social Investment, and CNT Tech.

The company attributed the successful fundraising to several factors, including:

• The innovative nature of its miRNA-based technology,
• Completion of rebranding efforts in the first half of the year aimed at penetrating the U.S. market,
• The official launch of sales through Amazon and its direct-to-consumer platform.

EX Healthcare is a bio company specializing in healthcare solutions powered by miRNA regulatory technology. Most recently, the company developed a muscle loss prevention cream utilizing its skin miRNA modulation technology.

miRNA, a molecule that regulates intercellular signal transmission, has gained significant attention in the scientific community, with its discovery earning a Nobel Prize.

In 2023, the company achieved $580,000 in exports and was recognized by South Korea’s Ministry of SMEs and Startups as a Global Small Giant +1000 and a Global IP Star, highlighting its technological capabilities and growth potential.

EX Healthcare stated that the investment will primarily be allocated to advancing its technology and expanding into global markets, with a particular focus on developing miRNA-based health functional foods and entering the U.S. and Japanese markets.

A company representative emphasized, "We are committed to ongoing technological innovation and global market expansion. Our ultimate goal is to develop groundbreaking solutions that contribute to human health."