Awell and StemExOne Sign MOU to Advance Biomedical Technologies and Strengthen Industry Competitiveness

• Agreement aims to leverage each company’s technological assets and strengthen commercialization collaboration
• Synergies expected by combining Awell’s offline network of hospitals and clinics with StemExOne’s diverse stem cell-related products
• First joint initiative launches sales of umbilical cord stem cell-conditioned medium cosmetics through the specialized cosmeceutical platform Awell Shop
• Companies plan to identify new joint business opportunities through continued collaboration in business development and technology R&D

Awell Co., Ltd., a medical community platform company led by CEO Wan Kim, and biotech venture StemExOne Co., Ltd., headed by CEO Ssang-Goo Cho, announced on the 4th that they have signed a memorandum of understanding (MOU) aimed at advancing biomedical technologies and strengthening competitiveness in the industry.

Photo caption: StemExOne CEO Ssang-Goo Cho (left) and Awell CEO Wan Kim pose for a commemorative photo following the signing ceremony. (Photo courtesy of Awell Co., Ltd.)

The agreement was signed to promote the utilization of the two companies’ technological assets and strengthen cooperation in commercialization. Going forward, the companies plan to leverage Awell’s extensive offline network of hospitals and clinics to expand StemExOne’s business in areas including stem cell-conditioned medium cosmetics and products for skin and hair-loss care.

As their first collaborative initiative, the companies have begun selling STEMONE Alpha, a cosmetic product formulated with umbilical cord stem cell-conditioned medium produced using advanced high-functionality stem cell culture technology, through Awell’s specialized cosmeceutical platform, Awell Shop.

The two companies also plan to identify and pursue new joint business opportunities by promoting exchanges and collaboration between their professionals in business development and technology R&D.

Awell CEO Wan Kim said, “With interest in stem cell-related technologies continuing to grow, we are very pleased to collaborate with outstanding stem cell technologies and products as part of the medical community platform that Awell is building.”

StemExOne CEO Ssang-Goo Cho said, “We hope that our stem cell-related products and therapeutic technologies—including our cosmetics, skin and hair boosters, and veterinary medical devices, whose technological excellence has been recognized—will be introduced to more hospitals that need them through Awell’s extensive and powerful online and offline hospital network. We also hope this collaboration will help raise broader awareness of our technologies.”

Awell Co., Ltd. is a convergence company spanning the medical, biotechnology, and ICT sectors. The company aims to build an integrated online and offline medical community platform by applying technologies such as AI and the metaverse to personalized healthcare consulting based on individual health data. Its business areas include AI healthcare big data, medical tourism services that enable overseas patients to access advanced Korean medical services, management and marketing consulting for hospitals and clinics, and distribution of advanced convergence medical devices.

Awell CEO Wan Kim has more than 20 years of experience in ICT new business development, marketing, and the medical sector. His career includes work on the Chollian portal business, B tv business development at SK Broadband, SK Store home-shopping business planning, SK Broadband’s smart rental business, SK fixed-mobile convergence services, and smart-home platform strategy. He also has extensive business experience in healthcare and stem cell-related fields.

StemExOne Co., Ltd. was founded in July 2020 by Prof. Ssang-Goo Cho, former head of the KU Institute of Science and Technology at Konkuk University, based on more than 20 years of research expertise in stem cell and regenerative engineering, including exosome technologies.

Established as a subsidiary of Konkuk University Holdings to commercialize advanced research originating from Konkuk University’s stem cell and regenerative biotechnology capabilities, StemExOne is a biotech venture focused on improving the quality of life for both people and companion animals.

StemExOne has developed High-Immonosome, an exosome-conditioned medium technology with enhanced immunomodulatory properties, and High-Entrosome, an exosome-conditioned medium technology designed for improved uptake by target cells.

Building on these technologies, the company is developing therapeutics for a range of inflammatory and neurological conditions, including refractory cystitis, dermatitis, psoriasis, atopic dermatitis, arthritis, and neuropathies.

StemExOne is also developing stem cell-conditioned media and exosome raw materials based on its proprietary technologies. The company has recently obtained manufacturing approval for a veterinary product intended for skin improvement and is expanding its beauty portfolio beyond its commercially available STEMONE Alpha cosmetics to include next-generation skin and hair booster products.

Reporter Mok Sang-hyun
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