VIG Partners Adds Ultra V and ATGC, Launches Livscience
LG Chem's former aesthetics business, a skin-booster company and a botulinum toxin developer are combined into one medical aesthetics company.
- Deal value
- —
- Stake
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- Implied 100%
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- Revenue
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- Op. income
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- Multiples
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Not calculable: terms undisclosed
- Target
- Ultra V and ATGC · Medical aesthetics (fillers, toxins, skin boosters)
- Buyer
- VIG Partners · FI
- Seller
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- Structure
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- Announced
- Jun 22, 2026
- Closed
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- Stage
- Closed
Target
Ultra V holds PDO (polydioxanone)-based regenerative technology and the PDO microsphere biostimulator Ultracol; ATGC has botulinum toxin R&D and manufacturing capabilities (lead candidate ATGC-110). In June 2026 both were combined with LG Chem's aesthetics unit (HA filler Yvoire), acquired by VIG Partners in August 2025 for KRW 200bn, to form Livscience (Money Today, Herald Economy).
Deal rationale
Livscience said it combines the three companies' technologies and business capabilities to form an integrated medical aesthetics company spanning fillers, toxins and devices (Money Today). Per Herald Economy, VIG paired LG Chem's aesthetics unit (annual revenue under KRW 100bn, EBITDA in the KRW 30bn range) with its existing Ultra V and ATGC holdings, with Daishin PE investing about KRW 22bn in a mezzanine position from its Daishin Co-Investment 2022 No.2 fund. LG Chem sold the unit for portfolio adjustment, and synergies with VIG's aesthetic device company VIOL (acquired via 2025 tender offer) were also reported.
Lead
Private equity firm VIG Partners added skin-booster company Ultra V and botulinum toxin developer ATGC as bolt-ons to LG Chem’s aesthetics business, which it acquired in 2025. The three companies were combined and launched as Livscience in June 2026. The price and stakes were not disclosed.
Why this matters
It is a sector-integration investment that brings fillers, skin boosters and toxins into one company. It shows a private equity firm building a medical aesthetics platform through bolt-ons.
Deal terms
| Item | Figure |
|---|---|
| Targets | Ultra V and ATGC (combined with LG Chem’s former aesthetics business) |
| Combined company | Livscience (launched June 2026) |
| Price and stakes | Not disclosed |