NEXEL

What NEXEL does

NEXEL Co., Ltd. is a Seoul-headquartered biotechnology firm founded in 2012 that specializes in human induced pluripotent stem cell (hiPSC) technology for drug development and preclinical safety testing. Its core product portfolio comprises three lines of cryopreserved hiPSC-derived cells — Cardiosight®-S cardiomyocytes, Hepatosight®-S hepatocytes, and Neurosight®-S neurons — together with a 3D organoid catalog spanning cardiac, heart, liver, brain, and lung organoids, and proprietary drug candidates NP-011 (anti-fibrotic) and NPT-0025 (idiopathic pulmonary fibrosis, dry-powder inhalation). All cell products are manufactured to >90% purity by flow cytometry and are validated on a multi-platform instrument stack including Nanion CardioExcyte96 and FLEXcyte96, Axion Maestro MEA, Patchliner, Clyde Biosciences CellOPTIQ, and Curi Bio Mantarray and NanoSurface plates, much of which NEXEL distributes in Korea under exclusive agreements.

Revenue is generated across four streams: (1) unit-priced iPSC-derived cell product sales shipped globally within seven business days, with volume discounts and quote-based pricing; (2) the NeXST cardiac safety testing service combining electrophysiology, contractility, calcium transient, and viability assessments under ICH S7B-aligned methodology; (3) CDMO and iPSC reprogramming services plus SPLICE-based single-cell RNA-seq analytics; and (4) prospective licensing and royalty revenue from the in-house therapeutic pipeline. The company reaches customers through a direct enterprise sales team ([email protected]), an e-commerce storefront, and a regional partner network spanning CMIC (Japan, exclusive distribution plus strategic investment), BoYa Medical and Nuoxinte (China, the latter with a Suzhou branch), Cambridge Bioscience (UK/Ireland), Celogics (USA JV in Seattle), and GVRP (India). It has earned ISO/IEC 17025:2017 accreditation and KOLAS registration as the first Korean company to provide GLP-grade hiPSC-based cardiac safety testing, is the only Korean member of the HESI CiPA working group contributing to ICH S7B revision, and is preparing for a KOSDAQ IPO targeted in 2025.

Name

NEXEL

Legal name

NEXEL Co., Ltd.

Website

https://nexel.co.kr

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

NEXEL is a South Korean biotechnology firm specializing in hiPSC technology, commercializing cryopreserved iPSC-derived cells, organoids, and cardiac safety testing services for global pharmaceutical and biotech drug developers, and preparing for a KOSDAQ IPO by 2025.

Ownership category

akta.pro rank

Product category

iPSC-derived cells and organoids for drug safety testing

NAICS

In-Vitro Diagnostic Substance Manufacturing (325413), Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

In Vitro & In Vivo Diagnostic Substances (2835), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

In Vitro Model Systems & Organoid Platforms (iPSC/organoids, microphysiological systems) (HLAAAIAJ)

akta.pro secondary industries

Companion Diagnostics (CDx) Development & Trial Testing Support (HLAGAEAJ), Companion Diagnostics (CDx) & Therapy Selection Assays (HLAAALAF)

Keywords

• IPSC-derived cells
• Cardiac safety testing
• 3D organoid technology
• Preclinical drug safety
• Stem cell reagents

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. iPSC-Derived Cell Products: Sale of cryopreserved hiPSC-derived cells (Cardiosight®-S, Hepatosight®-S, Neurosight®-S) and associated media kits. Products are shipped globally within 7 business days. Volume-based discounts available for bulk orders.
2. NeXST Cardiac Safety Services: Contract testing services for cardiac safety assessment using iPSC-derived cardiomyocytes. Includes electrophysiology, contractility, calcium transient, and viability assays. Enables efficient decision-making for drug development programs.
3. CDMO Services: Custom cell differentiation and production services for disease models and specific differentiation requirements. Involves reprogramming, characterization, and delivery of custom cell products.
4. RNA-seq Services: Single-cell RNA sequencing services using SPLICE platform for organoid research, providing end-to-end cell identification and phenotyping.
5. Drug Development Pipelines: Development of proprietary drug candidates including NP-011 (fibrosis treatment) and NPT-0025 (idiopathic pulmonary fibrosis). Licensing and technology transfer revenue potential.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

NEXEL develops, manufactures, and commercializes human induced pluripotent stem cell (hiPSC)-derived biological products including cryopreserved cardiomyocytes (Cardiosight-S), hepatocytes (Hepatosight-S), and neurons (Neurosight-S), as well as 3D organoids (cardiac, liver, brain). The company sells these products globally to pharmaceutical and biotech drug developers and provides contract cardiac safety testing services through its NeXST platform. It also offers CDMO cell customization, iPSC reprogramming, RNA-seq analysis, and is developing fibrosis drug candidates NP-011 and NPT-0025.

Differentiator

Problem solved

Functional benefit

Brands

• Cardiosight®-S: iPSC-derived cardiomyocytes product line
• Hepatosight®-S
• Neurosight®-S
• NeXST
• Mantarray™
• NP-011
• NPT-0025

Products and services

• Cardiosight-S Cryopreserved hiPSC-derived cardiomyocytes that spontaneously beat with stable cardiac pacing after thaw. Available in two SKUs (C-001: >2.5×10⁶ viable cells/vial; C-002: >5.0×10⁶ viable cells/vial) with corresponding Long-term culture and Electrophysiology media kits. Validated on Nanion CardioExcyte96, Patchliner, FLEXcyte96, and Axion Maestro MEA platforms. Targets pharmaceutical and biotech drug developers for cardiotoxicity screening and cardiac safety assessment.
• Hepatosight-S Cryopreserved hiPSC-derived hepatocytes forming a polygonal cell monolayer after thaw. Available in two SKUs (H-001: >5.0×10⁶ viable cells/vial; H-002: >10.0×10⁶ viable cells/vial) with corresponding media kits (HMS-001: 100ml; HMS-002: 200ml). Demonstrates superior toxicity response fidelity compared to HepG2 cells and closer alignment with primary human hepatocytes. Targets drug metabolism and hepatotoxicity testing for pharmaceutical developers.
• Neurosight-S Cryopreserved hiPSC-derived cortical neurons forming an intertwined neuronal network rapidly after thaw. Available in two SKUs (N-001: >2.0×10⁶ viable cells/vial; N-002: >4.0×10⁶ viable cells/vial) with three media kit options: standard culture kit, larger volume kit, and electrophysiology kit. Demonstrates electrical activity and synchronization suitable for neurotoxicity and seizure-risk assessment. Targets neuroscience research and drug safety testing.
• Cardiac & Heart Organoid hiPSC-derived 3D cardiac organoids (COs, 200–400 μm diameter) with approximately 95% cTnT-positive cardiomyocytes, and Heart Organoids (HOs, 600–800 μm diameter) with 50–60% cardiomyocytes co-cultured with fibroblasts and endothelial cells. Used for cardiac safety pharmacology, disease modeling (myocardial infarction, cardiac fibrosis), and drug response evaluation.
• Liver Organoid hiPSC-derived 3D hepatic organoid (HO) with greater than 98.5% ALB-positive hepatocytes, demonstrating CYP450 enzyme activity and hepatotoxicity responses comparable to primary human hepatocytes (PHH). Used for drug metabolism, detoxification, and hepatotoxicity testing.
• Brain Organoid hiPSC-derived cerebral organoid generated through EB formation, germ layer differentiation, neural induction, neuroepithelial expansion, and maturation stages. Composed of neurons, neural stem cells, and immune cells; recapitulates cerebral cortex, forebrain, choroid plexus, and hippocampus regions. Proliferates for up to two months, growing over 5 mm in size. Used for neurodevelopmental disorder modeling and drug testing.
• Mantarray 3D tissue contractility analysis platform from Curi Bio, distributed by NEXEL. Uses proprietary magnetic sensing technology to measure contractile force of 3D engineered muscle and heart tissues in a 24-well format. Provides clinically relevant functional data including beat rate, contraction velocity, relaxation velocity, and twitch force. Enables label-free, non-optical measurement with greater than 95% tissue formation success rate.
• NanoSurface Plates Biomimetic nanopatterned cell culture plates from Curi Bio, distributed by NEXEL. Promotes structural alignment and functional maturation of iPSC-derived cardiomyocytes, skeletal muscle, neurons, and other cell types. Available in 96-well and 384-well ANSI/SLAS standard formats with No. 1.5 glass-bottom wells for high-quality imaging.
• CellOPTIQ Platform Cardiac safety analysis platform from Clyde Biosciences, distributed by NEXEL. Provides patch-clamp-level data in medium-throughput 96-well format using voltage-sensitive optical sensors. Simultaneously measures voltage, calcium signals, and contractility in a single experiment for comprehensive assessment of mixed ion channel effects for cardiac safety evaluation.
• NeXST Cardiac Safety Service Cardiac safety service using NEXEL's Cardiosight-S hiPSC-derived cardiomyocytes. Covers electrophysiology (MEA, impedance, field potential), contractility (FLEXcyte96, Mantarray, muscle motion analysis), calcium transient (Nautilai/Curibio), and cardiomyocyte viability assessments. Supports high-throughput screening for early cardiotoxic compound elimination and precise dose-response cardiac safety analysis. Validated under ICH S7B guidelines and ISO/IEC 17025 accredited. Targets pharmaceutical and biotech drug developers.
• CDMO (Contract Development and Manufacturing Organization) Custom manufacturing service that customizes and produces desired cells including disease models and specific differentiations. Differentiates hiPSCs into target cell types (cardiomyocytes, neurons, hepatocytes, and others), evaluates differentiation efficiency via RT-PCR, FACS, and ICC, and delivers 3 vials (greater than 1×10⁶ cells/vial) with a comprehensive analysis report. Turnaround time approximately 1–3 months. Targets pharmaceutical, biotech, and academic customers with custom cell needs.
• iPSC Reprogramming Service Service that reprograms fibroblasts and PBMCs (peripheral blood mononuclear cells) into iPSCs using Sendai virus (4 Yamanaka transcription factors: Oct3/4, Sox2, c-Myc, Klf4) and mRNA-based transduction. Includes cell recovery, reprogramming (15–80 days), clone picking, iPSC expansion, and pluripotency characterization via RT-PCR, ICC, and FACS. Delivers 3 vials (greater than 1×10⁶ cells/vial) with results analysis report. Turnaround approximately 1–3 months. Targets academic and pharmaceutical customers requiring patient-derived iPSC lines.
• RNA-seq (SPLICE Service) End-to-end single-cell RNA sequencing service using the SPLICE platform for organoid research. Provides scalable, standardized phenotyping via long-read single-cell RNA-seq capturing full-length transcripts for cell typing, isoform-level expression, and exome-wide variants in one assay. Customers ship cells and receive verified cell identity in a searchable database; replaces antibody panels and reduces in-vivo validation needs.
• NP-011 hiPSC-derived anti-fibrotic drug candidate (MFG-E8 protein analog) targeting fibrosis-related diseases. Patent registered in US and Japan (April 2025), Korea (January 2025), with PCT applications covering liver disease, heart disease, pulmonary fibrosis, and ulcerative colitis indications. Phase 1 clinical trial completed in Australia (August 2023).
• NPT-0025 hiPSC-derived drug candidate for idiopathic pulmonary fibrosis (IPF). Patent registered in Korea and Japan; under examination in EU and China. Compositions target fibrotic lung disease using dry powder inhalation formulation.

Quantifiable outcome

• 45% of all drug withdrawals are related to cardiovascular issues
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature7 records

Partnerships

16 partnerships are on record, tiered minor and core.

• Nuoxinte Biotechnology (China)minorChannel Partner/ Reseller/ Distributor · 1 February 2024Contract signed February 2024 for cardiac toxicity testing services in China. NEXEL also established Nuoxinte as a branch in Suzhou, China.
• CMIC Holdings (Japan)coreChannel Partner/ Reseller/ Distributor · 1 September 2023Business cooperation agreement and investment signed September 2023, followed by exclusive distribution agreement signed December 2023. CMIC serves as exclusive distributor for Japanese market and strategic partner for business expansion in Japan.
• Hailer Bio-Medicine (China)minorStrategic or Co-development Partner · 1 May 2023MOU signed May 2023 for biotechnology platform cooperation.
• Johns Hopkins University Microphysiological SystemscoreStrategic or Co-development Partner · 1 March 2023MOU signed for stem cell and organoid research collaboration. Joint research in microphysiological systems using human iPSC-derived cells and organoids.
• GVRP (India)minorChannel Partner/ Reseller/ Distributor · 1 March 2023Supply agreement signed March 2023 for hiPSC-derived cell products distribution in India.
• CROENminorStrategic or Co-development Partner · 1 November 2022Technical business MOU for drug non-clinical evaluation signed November 2022.
• Curibio (USA)coreTechnology or Integration · 1 August 2022Exclusive sales and equipment cooperation agreement signed August 2022. Curibio provides CardioExcyte 96 and FLEXcyte 96 cell monitoring systems; NEXEL serves as exclusive distribution partner for these instruments in Korea.
• Korea Safety Assessment InstituteminorStrategic or Co-development Partner · 1 July 2022Cooperation agreement for hiPSC cell model and drug evaluation method development signed July 2022.
• Woojung BiominorChannel Partner/ Reseller/ Distributor · 1 July 2022Joint marketing agreement for NeXST SVC (cardiac safety evaluation service) signed July 2022.
• Korea Institute of Toxicology (KIT)coreStrategic or Co-development Partner · 1 April 2022Technology transfer agreement for hiPSC-derived liver organoid production signed December 2022. Collaboration on Wilson's disease model development, with patent jointly registered.
• Celogics (USA)coreChannel Partner/ Reseller/ Distributor · 1 October 2021Joint venture established October 2021 in USA (Seattle) for North American market operations and distribution of iPSC-derived cardiomyocytes.
• Kangwon National University Institute of Medical Science (KNUIMS)minorStrategic or Co-development Partner · 1 March 2021MOU signed March 2021 for collaborative research in pulmonary fibrosis treatment, focusing on accelerating NPT-002X idiopathic pulmonary fibrosis therapy drug development.
• Nanion Technologies (Germany)coreTechnology or Integration · 1 April 2020Strategic partnership established April 2020 to open CardioExcyte96/FLEXcyte96 reference demonstration laboratory in Korea. Nanion provides scientific expertise in experimental design and assay development.
• Cambridge Bioscience (UK/Ireland)minorChannel Partner/ Reseller/ Distributor · 1 March 2019Distribution contract signed March 2019 for iPSC-derived cell products in UK and Ireland markets.
• T&R BiofabminorStrategic or Co-development Partner · 1 August 2017MOU signed August 2017 for bioprinting technology development using stem cell-derived cell products.
• BOYA Medical (China)minorChannel Partner/ Reseller/ Distributor · 1 May 2017Distribution contract signed May 2017 for iPSC-derived cell products in China.

Scale indicators4 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Fujifilm Cellular Dynamics International: Fujifilm Cellular Dynamics International (FCDI) is the largest global supplier of iPSC-derived cells including cardiomyocytes, hepatocytes, and neurons, with an established catalog, GMP manufacturing, and broad pharma distribution. It is NEXEL's most direct competitor in hiPSC-derived cell products and cardiac safety testing.
• Axol Bioscience: Axol Bioscience produces iPSC-derived cardiomyocytes, neurons, and other cell types used in drug discovery and safety testing. It competes directly with NEXEL's Cardiosight-S and Neurosight-S product lines and serves overlapping pharma and academic customers.
• bit.bio: bit.bio uses proprietary opti-ox technology to produce iPSC-derived cells at scale, with strong positioning in iPSC-derived neurons and growing cardiomyocyte/hepatocyte offerings. Comparable to NEXEL in the iPSC-derived cell catalog business and overlap in pharma disease modeling customers.

Broad incumbents

• Stemcell Technologies: Stemcell Technologies is a long-established supplier of stem cell research reagents, media, and culture tools used by every major academic and pharma stem cell laboratory. Overlaps with NEXEL in the iPSC research-tools space but operates at a much broader portfolio scale.
• Lonza: Lonza is a global CDMO and cell-and-gene services provider that also supplies cell therapy manufacturing and certain iPSC-related services. Comparable to NEXEL in CDMO scale-up, custom cell manufacturing, and in serving large-pharma clients, though Lonza's portfolio is far broader.
• Charles River Laboratories: Charles River is a global CRO offering preclinical safety, cardiac safety pharmacology, and drug discovery services to pharma and biotech. Comparable to NEXEL's NeXST cardiac safety service offering, though Charles River operates at vastly larger scale across all therapeutic areas.

Emerging players

• Emulate: Emulate develops organ-on-chip platforms for liver, lung, intestine, and brain that compete with NEXEL's organoid products in preclinical safety and disease modeling. Both companies target the same regulatory-driven shift toward human-relevant in vitro models, though via different technology architectures.
• CN Bio: CN Bio offers organ-on-chip and microphysiological systems (notably liver and lung chips) used in drug safety and efficacy studies. It overlaps with NEXEL's organoid-based disease modeling and hepatotoxicity offerings for pharma customers adopting NAMs.
• BrainXell: BrainXell specializes in iPSC-derived neural cell types for neuroscience drug discovery and neurotoxicity testing. It is a direct niche competitor to NEXEL's Neurosight-S product and competes for the same neuroscience and neurotox academic/pharma customers.
• DefiniGEN: DefiniGEN produces iPSC-derived hepatocytes and other disease-relevant cell types for metabolic disease and drug-induced liver injury studies. It overlaps with NEXEL's Hepatosight-S product line and liver organoid platform in hepatotoxicity use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=XBIZq31qEAI

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NEXEL