SGBio Achieves 100 Billion KRW in Sales, Selected as 2023 Venture 100 Billion KRW Company

Bio regenerative medicine specialist company CJ BIO announced on the 29th that it was selected as a new 'Venture 100 Billion Company' in 2023. A Venture 100 Billion Company refers to a company that has been certified as a venture company at least once through the 'Venture Company Verification System,' which provides preferential benefits, and has annual sales of 100 billion KRW or more.

Yoo Hyun-seung, CEO of CGBio (left), and Park Jung-woo, Head of Development Strategy Team, are posing for a commemorative photo after receiving a trophy at the 2023 Venture 100 Billion Company Ceremony.
[Photo by CGBio]

On the 26th, at the 2023 New Venture 100 Billion Company Certification Ceremony hosted by the Ministry of SMEs and Startups and the Korea Venture Business Association, CJ BIO CEO Yoo Hyun-seung received a trophy on behalf of the company.

CJ BIO began its business in 2006 based on technology in bio-materials such as bioceramics and polymers, focusing on bone substitutes and spinal implants. Currently, it has expanded its business beyond bone and spine to fields such as skin, surgery, cosmetic surgery, and stents, transforming into a regenerative medicine specialist company with growth potential and profitability.

Last year, CJ BIO achieved a record-breaking milestone by surpassing 100 billion KRW in annual sales for the first time, with consolidated sales of 129.7 billion KRW. Operating profit also continued its growth trend, reaching 18.16 billion KRW. The company analyzed, "All business sectors grew evenly, with a significant increase in sales from the cosmetic surgery business."

Sales of the representative cosmetic surgery products, hyaluronic acid (HA) fillers ‘GISELLELIGNE’ and ‘VOM’ filler (export name Aileen), and calcium (CaHA) filler ‘FACETEM’ increased by 89%, 196%, and respectively compared to the previous year. Steady domestic sales growth of the bone substitute NOVOSIS and moist dressing EASYDERM also significantly contributed to surpassing 100 billion KRW in sales.

CJ BIO plans to make next year the inaugural year for global market entry by actively seeking opportunities to enter the U.S. medical device market with its skin graft product line CGDERM and negative pressure wound therapy devices CURASYS and CURAVAC. Additionally, the company aims to expand its cosmetic surgery product lines worldwide through continuous overseas approvals and distributor development.

Yoo Hyun-seung, CEO of CJ BIO, said, “We are very pleased and deeply moved to join the Venture 100 Billion Company club. We will continue to grow sustainably, becoming a company that contributes to the domestic venture and medical device industries, and strive for relentless innovation until the day we achieve 1 trillion KRW in sales and leap forward as a global regenerative medicine specialist company.”