Acquisition of Inibio
Securing Domestic Approval for "Botulinum Toxin"
GC Green Cross Wellbeing is set to make a full-scale entry into the global botulinum toxin market, which is valued at approximately 12 trillion KRW.
On February 12, GC Green Cross Wellbeing announced that it had acquired a stake in the aesthetics company Inibio, including management rights.
The strategy is to enhance synergies in the aesthetics business through the acquisition of Inibio, a company specializing in botulinum toxin products. The company aims to become a new "medical solutions bio company" by establishing two main pillars: its existing "nutritional injection pharmaceuticals" business, centered on its placenta injection product Laennec, and its "aesthetics" business, focused on botulinum toxin, fillers, and skin boosters.
GC Green Cross Wellbeing plans to secure competitiveness in both domestic and international botulinum toxin markets through the acquisition of Inibio. Inibio possesses patented technology for producing products with 100% purity, an extensive overseas network, and GMP (Good Manufacturing Practice) production facilities capable of obtaining FDA (U.S. Food and Drug Administration) and EMA (European Medicines Agency) approvals.
Another reason for the acquisition is that Inibio's botulinum toxin product "Inibo" is free from controversies regarding the origin of its strain. The Inibo strain was sourced from CCUG (Culture Collection University of Gothenburg), a Swedish microbial distribution institution and strain bank.
GC Green Cross Wellbeing is preparing to enter the global market through this acquisition, targeting markets such as the United States, China, and Brazil. The global botulinum toxin market is projected to grow from 12 trillion KRW in 2024 to approximately 31 trillion KRW by 2030. The market is considered a high-potential opportunity due to new indications, entry into various countries, the creation and expansion of new markets in those countries, and the growing needs of customers.
Inibio is rapidly expanding its global network, having signed long-term supply contracts with seven countries worldwide. Among these, China is preparing to submit a New Drug Application (NDA) in the first half of the year after completing Phase 3 clinical trials, with the goal of commercialization in 2026. In Brazil, Inibio aims to obtain ANVISA (National Health Surveillance Agency) certification within the year and is targeting its first shipment by the end of this year.
Meanwhile, in April of last year, GC Green Cross Wellbeing spun off its health functional food business and transformed itself into a "medical solutions bio company" focused on the nutritional injection business. Since then, its business performance has improved significantly. According to its consolidated financial statements, last year's sales reached 133.8 billion KRW, marking an 11.0% increase year-on-year. Operating profit was 13 billion KRW, and net profit was 7.5 billion KRW, representing increases of 24.1% and 10.4%, respectively. In September of last year, the company also received product approval for its placenta injection Laennec from Hainan Province in China and is working to distribute it throughout China, thereby expanding its business overseas.
Inibio is a biopharmaceutical company established in 2017. It owns a GMP production facility in Bucheon, Gyeonggi Province, which boasts the largest production capacity among single factories in Korea.
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