CG Bio said it acquired M.Base, a company specializing in manufacturing and developing lifting threads, to strengthen its esthetic business portfolio.

According to CG Bio, the company recently signed a contract to acquire a 90 percent stake in M.Base.

CG Bio, an affiliate of Daewoong Pharmaceutical, has been actively developing the medical esthetic business, which utilizes bio-material technology, as a new business model.

Representative items of CG Bio include hyaluronic acid (HA) filler Giselleigne and VOM Filler, calcium filler Facetem, breast massager Beluna, and stromal vascular fraction (SVF) automatic extraction device Cellunit.

With the acquisition of M.Base, CGBIO secured production capacity and development know-how for lifting-thread, it said.

Thread lifting improves skin sagging affected by aging with the insertion of a medical thread with protrusions into the skin and pulling it in the opposite direction of gravity.

Compared to a facial lift through a physical incision, using a lifting thread is cheaper and has the advantage of quick procedure and recovery and less scarring.

“Thread lifting has recently become a representative procedure leading the non-invasive cosmetic surgery market,” CG Bio said.

According to Brandessence market research and Consulting, a U.K.-based market research firm, the global lifting-thread market, which was about $112.2 million in 2020, is projected to have an annual growth of 7.4 percent and reach $177.69 million by 2026.

“Through the acquisition of M.Base, CG Bio has secured both manufacturing and development capabilities for lifting threads,” CG Bio CEO Yu Hyun-seung said.

The company will strive to accelerate the medical esthetic business by exerting optimal synergies with existing cosmetic surgery products, Yu added.