ExoCoBio, A Leader in Exosome Technology, Completes the Acquisition of BENEV, a Global Medical Aesthetic Brand

2023-07-12

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This combination will create synergistic effects to boost the commercialization of exosome technology around the world. ExoCoBio will continue to support all the business activities currently engaged by BENEV, including its medical device and PDO thread businesses. MISSION VIEJO, Calif., July 12, 2023 /PRNewswire/ -- ExoCoBio, a global leader in exosome-based regenerative aesthetics, is pleased to announce that they have completed the acquisition of a majority ownership in BENEV, a global medical aesthetic company based in the U.S. Founded in 2000, BENEV is a pioneer in the medical aesthetics industry as the manufacturer and distributor of the world's first growth factor-based skincare products. They have expanded their business to market and distribute other innovative medical aesthetics products, including an award-winning RF microneedling system, best-in-class PDO threads, and the Exosome Regenerative Complex developed by ExoCoBio in the U.S. and other countries. As a leader in these three categories that BENEV calls their "Regenerative Trifecta", the company is one of the fastest growing companies in the U.S. aesthetic medical market, attaining more than 117% CAGR in total revenue over the past 3 fiscal years. ExoCoBio is an unmatched leader in exosome-based regenerative aesthetics and medicine, and currently holds 54 patents and 15 scientific publications. Their exosome products, ASCE+™ and ERC™ launched in 2019, are the best-in-class next generation exosome products, with over 3.5 million cases sold since the launch. In March 2023, ASCE+™ and ERC™ product line was awarded "The Best Cosmetics" at The Aesthetic and Anti-aging Medicine World Congress (AMWC), which is the world's pre-eminent global anti-aging congress. Exosomes are one of the most important categories in this space and are in high demand. Exosomes are vesicles composed of various bioactive substances of nano size (30-200 nm) that serve as key signaling molecules between cells in our body. They are secreted for intercellular communication and play a crucial role in inducing immune regulation or activation in recipient cells, thereby influencing the microenvironment surrounding the cells. Exosomes have the potential to target specific cells and enhance the efficacy of active ingredients, making them highly promising for applications in various fields such as cosmetics, diagnostics, and therapeutics. According to Mr. Byong Cho, CEO/CTO of ExoCoBio, "We are very pleased with this important acquisition which will contribute to the fast growth and business expansion of ExoCoBio. BENEV is a perfect complement to our mission to bridge exosome science to clinical application to further elevate exosome technology as a mega-trend in the market." Mr. Ethan Min, CEO of BENEV, adds, "We are truly grateful and pleased to announce ExoCoBio's acquisition of BENEV. We have been on a journey together as a strategic and financial partner for the last six years since the U.S. launch of Exosome Regenerative Complex. With this acquisition, we are confident that our expertise, standing in the industry and brand, paired with ExoCoBio's science, technology, funding and pipeline products will generate a strong synergy for our strategic growth in the global medical aesthetic market." About ExoCoBio Inc. ExoCoBio, established in 2017, is the world's leader in exosome-based regenerative aesthetics and medicine. It is one of top 3 exosome biotech companies and commercialized ASCE+™ and ERC™, the world's first and best exosome-based aesthetic products, which led to a new exosome skin booster industry since 2019. About BENEV Company Inc. BENEV, established in California in 2000, is an FDA-registered drug manufacturer, specializing mainly in topical solutions for skin and hair, including its exosome products, as well as innovative medical devices such as PDO threads and radiofrequency microneedling device, in the U.S. and around the world. BENEV is an established player in the medical aesthetic market emphasizing health, longevity, and beauty-related products in the U.S., Asia and other marketing around the world. BENEV has a fully integrated business model, which includes manufacturing, research and development, sales, and marketing. For more information, susan@benev.com