Daewoong Group is moving to sell its regenerative medicine affiliate CGBio to a local private equity firm in a deal that could value the company up to 1 trillion won ($680 million), industry sources said Friday.
The sources said IMM Private Equity has emerged as the preferred bidder for CGBio, securing exclusive negotiating rights to acquire a 51 percent stake held by the company’s largest shareholder, A-Hana. A-Hana is controlled by Bluenet, a company owned by the Daewoong Group’s founding family that holds a 55.84 percent stake.
The transaction is expected to be worth about 600 billion won, implying a valuation of more than 1 trillion won for the company.
“The final stake size and deal price will be determined through further discussions,” the group said, noting the process remains at the preferred-bidder stage with due diligence still pending.
CGBio has recorded rapid overseas growth in recent years, driven by a diversified product portfolio that includes bone graft substitutes, wound care products and aesthetic treatments.
Built on partnerships across Europe, the Middle East, Southeast Asia and South America, exports have grown 31 percent annually, reaching $21.8 million in 2025 from $17.4 million in 2024 and $12.6 million in 2023.
Industry officials expect the private equity firm to focus on expanding the global commercialization of CGBio’s bone graft substitutes.
In 2020, IMM Private Equity invested about 320 billion won to acquire Kolmar Korea’s pharmaceutical manufacturing unit and Kolmar Pharma, merging the businesses to create contract drug manufacturer Genuone Sciences. The firm sold the company in 2024 for about 620 billion won.
minmin@heraldcorp.com
