Cell and gene therapy contract development and manufacturing (CDMO) corporations ENCell said on the 4th that it issued convertible bonds (CB) totaling 22.5 billion won. The convertible bonds are scheduled to be paid in on the 12th.
NH Investment & Securities is underwriting the CB issuance, and key investors in the bio-healthcare sector, including the NH-Meritz Bio New Technology Investment Partnership, BNH Investment, and Partners Investment, participated in the acquisition. The coupon rate is 0%, the yield to maturity is 3%, and the maturity date is Dec. 12, 2030.
NH Investment & Securities is underwriting the CB issuance, and major investors in the bio-healthcare sector, including the NH-Meritz Bio New Technology Investment Partnership, BNH Investment, and Partners Investment, participated.
ENCell is expanding its business based on its CDMO capabilities for cell and gene therapies, and it is in full swing expanding its stem cell therapy business, including its recently self-developed Charcot-Marie-Tooth disease (CMT) type 1A therapy "EN001," which obtained phase 2a clinical approval from the Ministery of Food and Drug Safety. This fundraising is meaningful in that it reflects a high external assessment of its growth potential based on its own pipeline.
ENCell plans to use the secured funds to push forward with the early commercialization of EN001, accelerate research and development to expand indications such as sarcopenia, and fully expand into new anti-aging businesses such as Japan's regenerative medicine and stem cell-based skin boosters. As demand for anti-aging regenerative medicine and the stem cell-based aesthetic treatment market grows rapidly, ENCell plans to strengthen its overseas expansion strategy centered on Japan and the United States to secure a new revenue base from 2026 onward.
Chief Executive Jang Jong-uk of ENCell said, "Starting next year, we plan to pick up the pace to deliver tangible commercialization results in the advanced regenerative therapy field," adding, "Based on this investment, we will expand our anti-aging business using stem cells as a mid- to long-term growth momentum."