“We don't just create fillers, we create regeneration.” Amidst the shift in the axis of the anti-aging industry from ‘beauty‘ to “regeneration,” Medifab, a specialized bio-regenerative medicine company, is growing its presence right in the middle of that change. Based on its chitosan and decellularized extracellular matrix (dECM) regenerative platforms, Medifab has expanded its business scope beyond skincare to hair loss and joint regeneration, proving its growth potential by attracting 29. billion won in investment and continuing its steps toward a KOSDAQ listing. We met with CEO Cha Mi-sun, who has connected technology starting from the research lab to the industry, to hear about the present and possibilities of the regenerative medicine-based anti-aging industry.
From Researcher to Entrepreneur: The Journey to Becoming a Regenerative Medicine Strong Small Giant
Driven by the aging population and the spread of the well-aging trend, the anti-aging industry is rapidly moving beyond simple beauty into the realms of ‘regeneration‘ and "treatment." In particular, regenerative medicine technology, which induces recovery at the cellular and tissue level, is in the spotlight as a next-generation industry. Amid these changes, the recent move of Medifap, which has attracted a cumulative total of approximately 29 billion KRW in investment, stands out as a notable example in the market.
Cha Mi-sun, CEO of Medifap, is a quintessential researcher-turned-entrepreneur with a Ph.D. in Microbiology from Pusan National University, having also served as a postdoctoral researcher and research professor at Seoul National University. Having devoted a long time to research in regenerative medicine and biomaterials, she decided to start her own business after keenly experiencing the limitations of research achievements failing to be utilized in the actual industry.
Founded in 2016, Medifap started from this awareness of the problem. Its core technologies are regeneration platforms based on ‘chitosan‘ and ’decellularized extracellular matrix (dECM)." Chitosan has long attracted attention as a material with anti-inflammatory and antibacterial properties favorable for tissue regeneration, but technical barriers have existed to its commercialization as an actual medical material due to difficulties in securing low water solubility and safety.
To solve this problem, CEO Cha developed water-soluble chitosan and ‘Liquid-to-Gel (LTG)’ technology, which transforms from a liquid to a gel inside the body. This technology is a core foundational technology that simultaneously expands procedural convenience and the scope of application, and it can be expanded into various product forms such as injectable and topical types. It is currently being applied to various product lines, including skin boosters and fillers, and has entered the commercialization stage.
In its early days, Medipab was an R&D-centric biotech startup, but CEO Cha quickly recognized the need to shift its business structure.
“It is difficult to become a sustainable company with a structure that only receives investment and repeats R&D. We determined that we must generate revenue through products actually used in the market and expand regenerative medicine technology on that foundation.”
CEO Cha has transformed Medifab from a research-centric organization into a market-centric one, establishing a virtuous cycle leading from technology to products, sales, and reinvestment. While initially focusing on securing technology, he later expanded the business scope to productization, distribution, and brand building across medical devices, skin boosters, and biomaterials, making a strategic choice to minimize the problem of a ‘disconnect between research and the market.’.
Currently, Medifab is targeting the medical aesthetics market by commercializing the water-soluble chitosan-based skin booster ‘Res Novae Crystal Plus,’ while preparing for domestic clinical trials of its next-generation facial filler ‘LTG-S’ (Class 4 medical device).
CEO Cha stated, “LTG-S is a next-generation facial filler specialized in skin regeneration and recovery, and it has the potential to become a new standard in the aesthetic medical field.” He added, “Long-term, we plan to expand our pipeline into the customized tissue regeneration biomaterials market.”.
Based on this growth foundation, Medifap's sales are also growing rapidly. It recorded around 10 billion won in 2024 and around 12 billion won last year, and aims to achieve 30 billion won this year.
Resnove Crystal Plus is receiving a positive response based on Medipab's technological prowess. Based on natural water-soluble chitosan raw material, it is drawing attention as a 5th-generation skin booster that helps stabilize the skin microenvironment with biocompatibility, antibacterial, and anti-inflammatory properties.
Chitosan and dECM-based regenerative platform expands into skincare, hair loss, and joints
MediFab's competitiveness lies not in individual products, but in its ‘regenerative medicine platform technology.' Its core technologies—namely ▲Chitogen, ▲Regentrix, and ▲Chitogenics—are representative examples. Chitosan and decellularized extracellular matrix (dECM), which serve as the foundation for these technologies, are materials applicable to various tissues such as skin, hair follicles, and cartilage, meaning a single technology can expand into multiple markets. This reduces dependence on specific products and provides a basis for responding flexibly to market changes. In fact, based on the same technologies, MediFab has expanded its business into skin care, hair loss treatment, and medical materials.
“It looks like we are running multiple businesses at once, but in reality, it is a process of applying a single platform in various ways. When you do skincare research, you notice hair loss, and when you delve deep into hair loss research, it naturally connects all the way to joint regeneration.”
The skincare sector is the area where Medifab first achieved success. Centered around the beauty-tech brand ‘Res Novae,’ the company has built an integrated lineup encompassing beauty devices, dermocosmetics, and skin boosters for clinics. In particular, the topical skin booster ‘Res Novae Crystal Plus' has been adopted by about 100 clinics nationwide, succeeding in its initial market settlement. Since then, it has been expanding its supply chain through a distributorship agreement with Dongkook Pharmaceutical, thereby raising brand awareness.
Medipab plans to strengthen its position in the medical aesthetics market through future injectable skin boosters and high-performance product lines, while simultaneously pursuing entry into the global market. The growth of the K-beauty and medical aesthetics markets is serving as a favorable environment for Medipab's overseas expansion strategy.
Hair loss market, approaching from management to regeneration!
The hair loss market is also a core area on which Medipub focuses. CEO Cha explains that hair loss issues should be approached not simply from the perspective of hair care, but from a regenerative perspective of restoring the scalp and hair follicle environment. Research results are also consistently being presented indicating that scalp inflammation and oxidative stress are closely linked to the deterioration of hair follicle function.
“The core of hair loss lies in the microenvironment surrounding the hair follicles rather than the follicles themselves. When the scalp environment collapses due to inflammation or oxidative stress, the function of the hair follicles inevitably weakens.”
Developed from this perspective, ‘Resnove Scalp MD‘ is a spray-type medical device that has obtained MFDS Class 2 medical device and European CE certifications, focusing on alleviating scalp inflammation and maintaining a regenerative environment. In particular, it is designed to help reduce inflammation and oxidative stress after hair transplantation and maintain an environment for hair follicle survival. In addition, the scalp device ’Hyper Shot' is a product that has increased scalp circulation and the delivery of active ingredients by applying South Korea's first simultaneous penetration microporation (MICROPORATION™) technology, recording sell-outs on home shopping channels and cumulative sales of 10,000 units.
CEO Cha is also focusing on the growth potential of the hair loss market. As the global hair loss management market expands rapidly at an annual rate of over 12%—driven by factors such as an aging population, rising stress levels, and changes in lifestyle—interest in scalp health care is growing, leading to an increasing demand for specialized at-home care solutions.
CEO Cha stated, “While the existing hair loss market has remained at the management stage focused on shampoos and nutritional supplements, it will evolve into a market that combines regeneration-based treatment and management,” adding, “We will accelerate our market dominance through medical device certification technology and home care solutions exclusively for hospitals and clinics.”.
CEO Cha Mi-sun is talking with a researcher in the supercritical fluid production room. This is a manufacturing facility for water-soluble decellularized extracellular matrix based on the supercritical carbon dioxide (scCO₂) process, a proprietary technology of the biomaterials specialized company Medifab.
Joint regeneration therapy, Medifab's long-term strategy
Joint regeneration is an area Medipab is focusing on for the long term. Currently, joint treatment is generally centered on pain-relieving injections, but treatments that lead to tissue recovery are limited. These limitations are also the background why regenerative medicine technology is receiving attention.
Medipab is developing a next-generation injectable platform that utilizes chitosan and decellularized extracellular matrix (dECM) to simultaneously induce inflammation relief and joint tissue regeneration. This research has been selected as a National Strategic Project by the Ministry of Trade, Industry and Energy and is being conducted in collaboration with Seoul National University Hospital.
“It is the development of a ‘hybrid degenerative osteoarthritis treatment” that can replace existing steroid therapy. Utilizing our proprietary chitosan and decellularized extracellular matrix technologies, it will serve as a therapeutic platform that simultaneously induces anti-inflammation and tissue regeneration. We are conducting research with the goal of entering clinical trials within 1 to 2 years and obtaining approval by 2030.”
CEO Cha emphasized, “Aesthetic-centered regenerative platform technology is expanding into the fields of orthopedics and chronic disease treatment, and the vision of a regenerative medicine company that Medifap aims for lies precisely in this scalability.”.
Secured 29 billion won in investment… Choosing ‘verification‘ over ‘speed’
Mediphap is expanding beyond medical aesthetics into broader therapeutic areas, including musculoskeletal diseases and the treatment of intractable wounds. This technological prowess and growth potential are also translating into trust in the investment market. In its recent Series B funding round, the company attracted 23.8 billion KRW, securing a total of approximately 29 billion KRW in cumulative investments. The round, initially planned for 15.0 billion KRW, ultimately saw a significant increase in its final investment size amid high interest from investors.
In the investment industry, Medifab's chitosan-based biomaterial technology and the scalability of its regenerative medicine platform are highly regarded. In particular, growth potential in the fields of skin regeneration materials and medical aesthetics is cited as a key background for investment.
CEO Cha also emphasized ‘verification‘ over 'speed' regarding the IPO plans. This is based on the judgment that, given the nature of the biotech industry, securing trust through clinical trials and regulatory approvals is of the utmost importance.
“I believe it is more important to receive a fair valuation backed by clinical trials, technology validation, and solid performance rather than a short-term increase in corporate value.”
The newly secured investment funds will be primarily allocated toward clinical trials and regulatory approvals for the chitosan skin booster, as well as the global market expansion of the beauty device and dermocosmetics brand ‘Resnove.' Medifab plans to pursue a pre-IPO investment round and aims for a KOSDAQ listing between the end of 2027 and early 2028.
Aiming to be a 100-year company, focusing on the essence of regenerative medicine
CEO Cha stated that his goal is to build a company that can last for more than 100 years, rather than focusing on short-term profits or an exit.
“MediFab is not just a filler company. Skincare and aesthetics businesses are the starting point for technological expansion, and MediFab's ultimate goal is to become a global anti-aging company that provides a ‘total anti-aging solution” spanning the fields of beauty, cosmetics, aesthetics, and therapeutics.”
CEO Cha predicted that anti-aging technology will evolve into an industry that goes beyond aesthetics to transform future ‘health and quality of life.".
“The human body has the ability to heal itself. We want to become a company that implements that healing ability through technology. Creating technology that allows people to maintain their current youth even in their 50s and 70s—that is the direction Medifab aims to go.”
As regenerative medicine technology originating from the laboratory expands through the beauty industry into the anti-aging sector, the industry's attention is focused on what new possibilities Medipab will present. Accordingly, on March 17, we visited Medipab's headquarters to meet CEO Cha Mi-sun in person and hear about her founding story, technological competitiveness, and mid- to long-term strategy for advancing as a regenerative medicine-based anti-aging company.
CEO Cha Mi-sun is touring the GMP-certified production facility of Medifab, which manufactures medical devices and skin boosters.
What led the researcher to become an entrepreneur?
A limitation I always felt while conducting research was: “Why do good technologies fail to make it to actual medical settings?” They prove their potential in the lab, but often encounter technical and institutional barriers at the industrialization stage. The same was true for Medifab's core technology, chitosan-based biomaterials. Through this process, I came to the conclusion that for good technology to change the world, an execution platform called industry is necessary, and Medifab started from that critical awareness. The challenge of connecting research outcomes to real-life changes was the starting point of founding the company.
Q. As a CEO with a research background, you must have experienced many trials and errors while running the company. If there are any lessons you learned from that, what are they?
Technology maturity alone does not guarantee success in the market. Market timing, meaning the entry point and execution speed, is just as crucial as technological maturity.
In the early days of my startup, I also focused on developing tissue regeneration platform technology and bioprinting, but after experiencing the barriers of the market firsthand, I changed direction. Since then, Medifab has shifted to a ‘market-centric strategy," creating a structure where we first launch products that can be quickly applied and then feed those results back into research and development.
Currently, we are operating the organization around three core principles: ▲ The market is the laboratory, ▲ Execution beats strategy, and ▲ Platform-centric expansion.
So, the background behind Medipab pursuing R&D and commercialization simultaneously stems from experiences with various trials and errors.
For a biotech company to achieve sustainable growth, relying solely on research and development has its limitations. From the early stages, Medifap has pursued technological development and commercialization in parallel, establishing a virtuous cycle where revenue feeds back into R&D. If regenerative medicine material platform technology is the axis of long-term growth, the medical aesthetics and dermocosmetics businesses are the foundation that supports it. By operating these two axes together, we have been able to create a stable growth structure.
Q. What is the ‘regenerative medicine-based anti-aging company" that Medifab aims to be? I am curious about your mid- to long-term portfolio.
While the traditional aesthetics industry has focused on external improvement, Medifab focuses on activating the tissue's ‘regenerative capacity.‘ To this end, it has built a portfolio centered on ▲ the water-soluble chitosan-based material platform ’Chitogen™,‘ ▲ the regenerative signal transduction platform ’Regentrix™,‘ and ▲ the fusion technology ’Chitogenix™.".
Chitogen™ is a water-soluble chitosan-based high-purity biomaterial platform and the starting point of Medifab's regenerative material technology.
Regentrix™, developed as a world first, is a decellularized extracellular matrix (dECM)-based regenerative signaling platform that delivers biological signals necessary for tissue regeneration. Furthermore, Chitogenix™, which combines the two technologies, is a next-generation regenerative platform with diverse application potential in the fields of medical aesthetics and regenerative medicine.
Currently achieving success in medical aesthetics, our goal is to expand into skin, hair loss, and joint regeneration in the future to grow into a global regenerative medicine platform company.
Q. What is the differentiator of the regeneration platform based on the core technologies of ‘chitosan‘ and ’decellularized extracellular matrix (dECM)'?
The key is that it is a ‘material that creates regeneration signals.' While conventional materials focused on physically filling tissue, Medifab focuses on creating an environment where cells can regenerate on their own.
Chitosan is advantageous for anti-inflammation and tissue regeneration, but it has low water solubility and is difficult to process. However, after years of research, Medifab has succeeded in developing its proprietary technology, ‘Chitogen™,’ which makes it processable for medical use. Regentrix™, based on the world's first developed decellularized extracellular matrix (dECM), is designed to deliver signals that allow cells to regenerate on their own. In particular, through a supercritical fluid process, the technology eliminates immunogenicity and unnecessary components while preserving effective signals necessary for regeneration, such as collagen and elastin, to the maximum extent possible.
Combining these two technologies, Chitogenix™ is a biomimetic platform that mimics the human body's regenerative mechanisms, with its greatest strength being its expandability into various fields of regenerative medicine. We are currently preparing clinical trials for a next-generation skin booster product applying this technology.
The research on the ‘chitosan-dECM hair loss treatment platform,’ conducted jointly with the Korea Institute of Science and Technology, is attracting attention.
This study is significant in that it confirmed the ‘scientific validation‘ and "scalability" of Medifab's technology.
Through international academic journals, the effectiveness of Medifab's proprietary technologies, water-soluble chitosan and chitosanics, has been proven, confirming that the technology—traditionally focused on aesthetics—can be expanded into the medical field of hair loss treatment. Through this technology, using an approach that improves the ‘scalp environment" rather than just the hair follicles themselves, we plan to expand the application scope in the future to various tissue regeneration fields beyond the scalp.
Q. I am curious about the performance and technology roadmap for each field, such as skincare, hair loss, and joint regeneration.
Medipap's technology is structured to expand step by step from cosmetics to medical aesthetics and regenerative therapy. Currently, it is achieving success in the skincare and scalp care markets, centered around the ‘Res Novae’ brand. The beauty device ‘Core Impact‘ has surpassed cumulative sales of 60,000 units, and the professional skin booster ‘Res Novae Crystal Plus' is used in about 100 specialized clinics. In the hair loss sector, while expanding its scalp care product line including the scalp device 'Hypershot', it is also researching next-generation hair loss treatment platforms. In the long term, it plans to expand into tissue and joint regeneration therapy, entering the realm of regenerative medicine in earnest.
Q. What are the differentiation points of the key products of the beauty-tech brand ‘Resnove’?
Resnove is a beauty-tech brand that expands Medifab's regenerative material technology into the skin and scalp care sectors. Skincare, devices, and clinic-use skin boosters are connected in a single platform, and in particular, it applies LTG technology, where liquid transforms into gel within the body, to enhance the delivery and sustainability of active ingredients. It is characterized by providing an ‘integrated anti-aging solution" that combines device and biomaterial technologies.
Word-of-mouth recommendations for scalp care products such as the scalp device ‘Hypershot’ and the 'Expert Shot Scalp Ampoule' are spreading rapidly.
Because consumers responded to ‘technology-based products." Rather than simple products, we designed them as solutions combining recycled materials and devices so that users can physically experience the improvement of their scalp environment. In particular, we believe that the device structure, which increases ingredient delivery efficiency, and the integrated management system provided a differentiated experience compared to existing products, leading to this market response.
Q. What is the most important task in Medipab's future growth strategy?
It is a balance between technological advancement and global expansion. We are currently focusing on three pillars: ▲advancing recycled material technology, ▲entering the global medical market, and ▲expanding lifecycle-based anti-aging solutions. Our long-term goal is to build a ‘total anti-aging platform" encompassing skin, scalp, and tissue regeneration.
Q. We have attracted a cumulative investment of 29 billion KRW. Why do you think investors evaluated Medifab so highly?
I think it is the market's trust in the ‘technology-based business model‘ that Medifap has built. I believe the company received a positive evaluation for being equipped with three elements simultaneously: differentiated regenerative medicine material technology, a business structure that leads to actual sales through its brand "Resnove," and expectations for next-generation skin booster technology. In particular, I think the development of products targeting the future market, such as next-generation skin boosters applying LTG (Liquid to Gel) technology, was highly evaluated by investors.
Q. We are preparing for a KOSDAQ listing in the late 2027 to early 2028 timeframe. What are your goals through this listing?
Listing on the KOSDAQ is not just about raising capital; it is a turning point for leaping forward as a ‘global regenerative medicine platform company.‘ It is a ‘second foundation." We intend to use this as an opportunity to secure global regenerative medicine standards, expand R&D investments, and strengthen our global organizational capabilities.
Ultimately, our goal is to grow into a company that improves people's quality of life through regenerative medicine technology.
Competition in the global bio and regenerative medicine market is fierce. Please explain Medifab's unique strengths and its strategy for overseas expansion.
Medipab's competitiveness lies in its ‘converged regenerative material technology‘ and "scalability." Its proprietary regenerative medicine material platform—which merges Chitogen™, a water-soluble chitosan material technology, with Regentrix™, an ECM platform based on regenerative signals—is difficult to replicate and can be expanded into various therapeutic areas. Building on this, the company is expanding its market presence by combining global partnership, overseas certification strategies, and K-bio manufacturing competitiveness.
Lastly, what kind of change does Medifab want to create in the domestic and international regenerative medicine sectors?
‘It is about changing the "paradigm of aging." The goal is not simply to improve physical appearance, but to enhance the quality of life itself by activating the human body's regenerative capacity. Medifab aims to be a company that contributes to helping people live healthier, longer, and better lives through regenerative medicine technology.
Cha Mi-sun, CEO of Medifab, is...
2016–Present CEO of Medifap
Research Professor at Seoul National University Boramae Hospital, Associate Professor with full-time faculty status at Seoul National University, Ph.D. in Microbiology from Pusan National University
[Key Performance]
25 years of R&D experience in biomaterials and nanobiotechnology
55 SCI research papers, about 40 patents
Advisory Committee Member for the Medical Device Evaluation Department at the Ministry of Food and Drug Safety
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Resnobe has officially entered the Olive Young Beauty Mansion Seongsu. [Photo by Medifab]
An exclusive planning set sold at Olive Young Beauty Mansion Seongsu. [Photo Mediheal]
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