LicensMedical Aims to Become a Leading Global Cooling Medical Device Company

LicensMedical, a company specializing in the commercialization of precision cooling technology, held a press conference at the Fairmont Ambassador Seoul Hotel in Yeouido on March 11, where it presented its growth strategy and vision following its listing.

Through this listing, LicensMedical is offering 1.4 million shares to the public. The desired offering price range is between 9,000 won and 11,000 won, with the total expected offering amount ranging from 12.6 billion won to 15.4 billion won. The book-building process is being held from March 9 to 13, and the public subscription will take place over two days, from March 19 to 20. The lead managers are KB Securities and Korea Investment & Securities.

Founded in 2016, LicensMedical is a medical device company that developed precision cooling technology to address recurring pain and inefficiency issues in clinical settings. The company’s core technology enables precise control of the temperature of ultra-low temperature refrigerants within seconds, quickly cooling the target area to the desired temperature. By quantifying cooling conditions, it ensures consistent therapeutic outcomes. Based on this technological competitiveness, the company received an A·A grade in its technological evaluation for a technology exception listing.

In particular, LicensMedical’s OcuCool was recognized for its technological innovation and became the first Korean medical device to obtain U.S. FDA De Novo approval. The De Novo pathway is a regulatory process for novel medical devices with no existing predicate devices. In addition, LicensMedical has built significant technical barriers by holding over 150 patents and certifications both in Korea and abroad in the field of cooling-based medical devices.

All of LicensMedical’s products are designed based on the same precision cooling platform. The core technology is shared, and functions are expanded in a modular structure depending on the intended application. As a result, the company has broadened its product portfolio to include the medical cryotherapy and cryosurgery device ‘TargetCool,’ the ocular cooling anesthesia device ‘OcuCool,’ the jet injector ‘TargetCool+,’ and the veterinary cooling medical device ‘VetEase.’

As of January 2026, TargetCool, one of LicensMedical's key products, is traded in 44 countries, having established a global supply chain. VetEase also secured a distributor network in eight countries, including the United States, Japan, Thailand, and China. Moreover, VetEase achieved its annual sales target just two months after its launch in 2024. The company stated that, with OcuCool’s FDA De Novo approval, it plans to fully enter the U.S. intravitreal injection (IVT) market starting in 2027.

LicensMedical's revenue growth is also becoming visible. The company’s consolidated revenue for 2024 was 6.3 billion won, up 8.5% compared to the previous year. As of the third quarter of 2025, cumulative consolidated revenue reached 7.5 billion won, already surpassing the annual figure from the previous year. Based on this growth trend, LicensMedical expects to achieve revenue in excess of 19 billion won in 2026.

The company plans to use the funds raised from the offering to establish automated production facilities for consumables and internalize new manufacturing processes. In addition, LicensMedical aims to expand indications for its cooling platform to areas such as hair loss and diabetic skin ulcers, and to accelerate the development of follow-up products, including the premium skin treatment device TargetCool Pro, the all-in-one OcuCool, and home beauty devices.

LicensMedical is also strengthening its global market strategy. The company plans to secure professional sales personnel in each strategic country and establish strategies tailored to local market characteristics to accelerate overseas expansion. Through these efforts, LicensMedical aims to upgrade its global distribution network and expand long-term exclusive supply contracts.

Geonho Kim, Co-CEO of LicensMedical, stated, "LicensMedical was founded with the determination to fundamentally solve unmet needs that have been raised repeatedly in clinical practice. Based on our precision cooling platform, we will broaden the therapeutic paradigm and emerge as a competitive cooling medical device company in the global market."

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