[Edaily Reporter Kim Hyung-il ] L&C Bio ( L&C BIO(290650)), a company specializing in human tissue-based extracellular matrix (ECM) platforms, continued its growth momentum by significantly increasing its cumulative revenue and operating profit for the first three quarters of this year. The improvement in performance was driven by the expanded domestic supply of its flagship product, Litwo, and growth in its existing human tissue graft business.

On the 10th, L&C BIO announced its third-quarter 2026 earnings, reporting that cumulative consolidated revenue reached 107.5 billion won—a 76.8% increase year-over-year—while operating profit rose 892.1% to 24.4 billion won. The consolidated operating profit margin rose from 4% in the same period last year to 22.7% this year.

Stand-alone results also improved. Cumulative revenue reached 86.7 billion won, up 77.8% year-over-year, while operating profit rose 327.1% to 25.7 billion won. The stand-alone operating profit margin increased from 12.4% to 29.7%.

This growth in performance is attributed to the expanded supply of “Re2O”—a product based on the skin extracellular matrix (ECM)—to domestic medical institutions, as well as the steady growth of the company’s existing human tissue graft business. Alongside Re2O, product lines such as MegaDerm, MegaCarti, MegaNerve Prime, and MegaFill also contributed to the strong performance.

L&C BIO possesses ECM technologies based on various human tissues, including skin, cartilage, nerves, and bone. Building on this foundation, the company is expanding its business scope from reconstructive medicine to skin structure restoration and the aesthetics sector.

The company is also moving forward with plans to expand production capacity to meet the growing demand for Lituo. Through the approval of a new Good Manufacturing Practice (GTP) production facility this year, L&C BIO has secured a production capacity of 80,000 Lituo units per month. The company plans to finalize preparations for the facilities and equipment needed to increase production capacity to 150,000 units per month by the end of the year and begin full-scale operation of the expanded capacity starting next year.

To meet medium- to long-term global demand, the company is also moving forward with the groundbreaking of its Dongtan global production plant. The plan is to establish a production base that will enhance domestic supply stability while supporting expansion into overseas markets such as the U.S. and China.

The company is also accelerating its entry into overseas markets. In the U.S., it is collaborating with a local human tissue distribution partner to expand supply over the medium to long term starting next year. In Asian markets such as Singapore, Thailand, and Hong Kong, the company is expanding its business with a focus on the Litou series. L&C BIO’s strategy is to position Korea as its core hub for technology development and production while expanding its production and supply infrastructure to the U.S. and China, thereby establishing itself as a global ECM platform company.

The company has also announced measures to enhance shareholder value. L&C BIO disclosed today that, following a board resolution, it has decided to exercise call options on 15 billion won worth of convertible bonds (CBs) and cancel the entire acquired amount. Convertible bonds are bonds that can be converted into shares under certain conditions. This cancellation is expected to alleviate potential dilution of equity and the overhang burden resulting from future share conversions.

Following its recent capital increase to secure funds for growth investments, L&C BIO has decided to cancel the convertible bonds, reflecting its policy of balancing medium- to long-term investments with the protection of shareholder value. The company also plans to review additional shareholder return measures, such as share buybacks and cancellations as well as dividends, in line with future revenue and profit growth.

An L&C BIO official stated, “These results are significant not only for the expansion of revenue but also for confirming the high profitability and growth potential of our ECM platform business,” adding, “In particular, the operating profit margin of approximately 30% on a standalone basis demonstrates our technological competitiveness and the profitability of our business structure.”

The spokesperson continued, “We will proactively respond to growing domestic and international demand by expanding our production infrastructure, including the construction of a new production plant in Dongtan.” They added, “Building on our domestic technological capabilities and production base, we will expand our business presence in key markets such as the U.S. and China, and strive to achieve our mid- to long-term management goals of 1 trillion won in revenue and 300 billion won in operating profit by 2030.”