BDA advises MEDIPOST on growth capital raise

BDA Partners is pleased to announce that its client MEDIPOST, a leading stem cell therapeutics & cord blood banking biotech company in Korea, has raised growth capital.

The round was led by existing shareholders, SkyLake Equity Partners and Crescendo Equity Partners, with new participation from Woori Private Equity Asset Management and NH Private Equity. The transaction comprised a primary issue of convertible bonds, raising KRW205bn (US$140m).

BDA was the exclusive financial advisor to MEDIPOST.

MEDIPOST is a leading stem cell therapeutics & cord blood banking biotechnology player, established in 2000 and listed on the Korea Exchange, with over 20 years’ operating history. The company is Korea’s leading cord blood banking service provider, and has expanded into allogeneic stem cell–based therapeutics and regenerative medicine, leveraging proprietary expertise in umbilical cord blood–derived stem cell technologies. MEDIPOST’s flagship product, CARTISTEM®, received full market authorization (BLA) approval from the Ministry of Food and Drug Safety (MFDS) in the early 2010s and is an allogeneic mesenchymal stem cell therapy indicated for degenerative knee osteoarthritis (KOA).

CARTISTEM is undergoing clinical trials in the US and Japan. The proceeds from this capital raise will be used to fund the ongoing clinical trials. In 2022, Skylake Equity Partners and Crescendo Equity Partners acquired a control stake in the Company.

Howard Lee, Partner and Head of BDA, Seoul, said: “We’re delighted to have advised MEDIPOST on this growth capital raise. Despite the inherent regulatory and development complexities in the stem cell therapeutics sector, this transaction demonstrates that companies with proven clinical assets and differentiated platforms continue to attract strong investor support.”

Andrew Huntley, Managing Partner and Head of Healthcare, BDA, added, “MEDIPOST has established itself as a rare, fully integrated stem cell therapeutics platform, with years of real-world clinical evidence in Korea through its CARTISTEM degenerative KOA product. This financing will support the advancement of its US and Japan clinical programs, with much larger addressable markets, and expand the company’s global footprint in regenerative medicine. We’re pleased to have supported MEDIPOST and its shareholders through this important milestone. We look forward to the company building on its strong scientific and clinical foundations.”