Pictogram and Izel Sign MOU... Collaboration on Bio and Healthcare Investment

Full-Scale Expansion of New Businesses Beyond Existing Filter and Water Purification Divisions

[Asia Economy Reporter Kwangho Lee] Picogram announced that it has signed a Memorandum of Understanding (MOU) for 'Technology Development and Investment Cooperation for Bio & Healthcare Business' with Izel, a bio-specialized company based on stem cell technology (CEO Beomjun Kim).

Through this MOU, Picogram plans to officially enter the bio and healthcare market by combining Izel's patented stem cell-based technology and product development know-how. In particular, both companies promised to actively cooperate to develop new products in various fields such as medical devices as skin repair agents (cosmetic fillers), functional customized cosmetics, and health functional foods, as well as to establish a bio platform.

Izel is a company that possesses numerous stem cell-based technologies, including human adipose stem cell culture fluid stabilization technology, exosome and functional peptide patented technologies. It produces cosmetics, medical devices (Botox, fillers, etc.), and beauty devices, and has supplied products to major domestic cosmetic companies.

Choi Seokrim, CEO of Picogram, said, “Starting with this MOU, we will strengthen cooperation on bio platform development for the commercialization of both companies' bio and healthcare sectors,” adding, “We will not only stabilize the existing filter and water purifier business sectors but also make every effort to enter the new bio and healthcare business that we have planned.”

Beomjun Kim, CEO of Izel, stated, “By integrating Izel’s biotechnologies, functional materials, and various products with the global distribution network that Picogram is building, we are aiming to expand into the global market,” and added, “Through collaboration with Picogram, we will realize our leap into a research and development-based bio platform company.”

Picogram is currently a filter-specialized company exporting water purifiers and filters to over 40 countries worldwide. Since 2015, it has been expanding its competitiveness in the water purifier market by launching its own brand water purifier, Purial, and plans to expand its business into the bio and healthcare sectors beyond its existing business areas.

This content was produced with the assistance of AI translation services.