Endovision Co., Ltd. (엔도비전) - Korea's Chitosan-Based Biomaterial Platform Pioneer

Company Overview (Updated April 2026)

Endovision Co., Ltd. (엔도비전) is a South Korean biomedical platform company headquartered in Daegu, South Korea. Established on April 3, 2013, the company has evolved from a traditional medical device manufacturer into a chitosan-based biomaterial platform enterprise. With proprietary mushroom-derived vegetal chitosan technology, Endovision develops and commercializes hemostatic agents, wound healing materials, spinal/endoscopic surgical devices, joint injections, and skin boosters.

Platform Vision: Rather than focusing on single products, Endovision aims to become a "Biomaterial Platform Company" leveraging chitosan's unique properties (biodegradability, gelation, cross-linking control) that position it as a next-generation biomaterial following PDRN, collagen, and ECM.

Financial Performance & Growth

Revenue Trajectory

2024 Performance:

- Revenue: KRW 12.96 billion (USD ~9.7 million), with operating profit of KRW 190 million

- Assets: KRW 18.08 billion; Equity: KRW 2.87 billion

2025 Performance (Estimated):

- Revenue: Approximately KRW 22 billion (USD ~16.5 million), representing 60-80% year-over-year growth

- Profitability improved significantly due to automation equipment investments

Funding & Investment History

Pre-IPO Round (January 2026):

- Amount: KRW 11.5 billion (oversubscribed, exceeding initial targets)

- Investors: Quad Ventures, HB Investment, NH Venture Investment, Astone Ventures, Comess Investment, Wooshin Venture Investment, Pioneer Investment (Home & Shopping subsidiary)

- Use of Funds: Clinical trials and regulatory approvals for joint injections and skin boosters; expansion of beauty device and cosmetics manufacturing and marketing

Series A (2020): We Ventures, Korea Asset

Additional Investment (March 2026): KRW 1.5 billion from NH Venture Investment, bringing cumulative funding to KRW 13 billion

Core Technology & Products

Chitosan-Based Biomaterials (Platform Technology)

Endovision utilizes mushroom-derived vegetal chitosan (not shellfish-based) as its core material, enabling superior biocompatibility and reduced allergic reactions. Key product categories include:

- Hemostats: Chitosan-based bleeding control agents for surgical and trauma applications

- Wound Care: Advanced wound dressings incorporating antibacterial chitosan hydrogels

- Wound Healing Solutions: Collagen and ECM-based regenerative materials

UBE Spinal & Endoscopic Surgery Systems

World's First UBE (Unilateral Biportal Endoscopy) System:

- Holds domestic and international patents for UBE surgical tools and biportal endoscopic spinal surgery

- Spinuss & Arthross RF Plasma Console: Low-temperature (40-70°C) RF ablation and coagulation system for precise tissue removal

- Compatible Systems: Products compatible with Smith & Nephew, Stryker, Linvatec, and Arthrex systems

- Scope Kits: Patent-protected advanced endoscopes with optimized design for surgical procedures

- Saver System: Dual-mode (foot switch & hand piece) shaver system with real-time data display

Pipeline Products (Clinical/Development)

- Joint Injection: Chitosan-based intra-articular injectable for osteoarthritis (clinical trials ongoing)

- Skin Booster: Medical aesthetics product line leveraging chitosan technology for dermatological applications

- Beauty Devices: Home-use medical aesthetic devices planned for B2C distribution through partnership with Pioneer Investment (Home & Shopping channel)

Regulatory & Patent Portfolio

Medical Device Approvals

- MFDS (Korean FDA): Over 160 medical device approvals secured over the past decade, ranging from low-risk (Class I) to high-risk (Class IV) implantable devices

- Quality Certifications: ISO 13485, KGMP (Korean Good Manufacturing Practice), CE marking for select products, FDA registration for US market access

Intellectual Property

International Patents:

- US Patent 11,457,909: Sheath device for biportal endoscopic spinal surgery

- US Patent 11,447,001: Guider for spinal operation and cage therefor

- US Patent 11,278,348: High-frequency treatment device for spinal endoscopic surgery

- Additional Patents: Cervical adhesion prevention devices, hemostatic clips, elastic retractors, male urinary incontinence prevention devices, and chitosan-based formulations

Corporate Structure (2026)

Shareholder Structure

- Jeong Min Ho (정민호): 42.85% (CEO & Founder)

- Shin Jin-wan (신진완): 13.11%

- Jeil Pharmaceutical (제일약품): 9.75%

Capital Structure: Total issued shares of 5,234,297 (Common: 3,662,242; Preferred: 1,572,055) with par value of KRW 500 per share (as of February 10, 2026)

Company Profile

Company Name: Endovision Co., Ltd. (주식회사 엔도비전)

Founded: April 3, 2013

Headquarters: 66-26, Dongnae-ro, Dong-gu, Daegu, Republic of Korea (42709)

Representative: Jeong Min Ho (정민호) – CEO & Founder

Employees: 51 (2026)

Business Type: Small-to-Medium Enterprise (SME) / Pre-IPO Company

Industry: Medical Device Manufacturing (Hemostasis, Wound Care, Endoscopic Surgery)

Affiliate: (주)웰바이오랩 (Well Bio Lab)

Website: www.endovision.co.kr

Strategic Directions & 2026 Outlook

IPO Preparation

- Target: KOSDAQ listing in H2 2026

- Lead Underwriters: Korea Investment & Securities and Woori Investment & Securities

- Strategy: Positioning as "Tech-based medical device company with unique chitosan formulation technology" spanning hemostasis, joint injections, and skin boosters

Business Expansion

- B2C Cosmetics: Entering consumer market through partnership with Pioneer Investment (Home & Shopping subsidiary) for beauty devices and cosmeceuticals

- Global Expansion: Current exports to UK, Hungary, and Thailand; expanding to Middle East, Latin America, and Southeast Asia

- Manufacturing Scale-up: Investment in automation equipment to improve profitability and meet growing demand

Market Position

Competitive Landscape

Endovision is recognized as a key player in the global UBE market alongside Karl Storz, Smith & Nephew, Stryker, and Joimax. The company's differentiation lies in:

- Integrated Platform: Only company combining chitosan biomaterials with endoscopic surgical systems

- Cost Competitiveness: "The most competitive price over the world" for RF systems and endoscopic equipment

- OEM Capabilities: Manufacturing for global companies including Zimmer Biomet

Contact Information

Headquarters (Korea)

Address: 66-26, Dongnae-ro, Dong-gu, Daegu, Republic of Korea (42709)

Tel: +82-53-751-1955

Fax: +82-53-751-1964

Email: endosales@endovision.co.kr / info@endovision.co.kr

Website: www.endovision.co.kr

Key Personnel

CEO: Jeong Min Ho (정민호) – Founder and Chief Executive Officer (42.85% shareholder)

Vision: "To become a global bio-technology medical device company used routinely in healthcare worldwide, based on unparalleled chitosan formulation technology"

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