Innogene

What Innogene does

Innogene Co., Ltd. (주식회사 이노진, KOSDAQ: 344860) is a South Korean anti-aging solutions company founded in 2005 and headquartered in Seoul, with a cosmetic manufacturing facility in Anyang. The company develops hair loss treatment devices, scalp diagnostic systems, and functional cosmetics, distributing them through three consumer sub-brands — Ballvic (hair loss treatment devices including BallPod and A.GATE), Dr.Medicean (medical-grade dermatological skincare), and Re:Cellby (cell-based anti-aging) — while operating parallel B2B sales of diagnostic hardware (A.TRACER scalp diagnostic device) directly to dermatology clinics and hospitals. Per its website, Innogene positions itself as an "anti-aging leader" combining skin regeneration stem cell research with "medical informatics convergence technology."

The company's core technology stack pairs computer-vision-based image analysis of scalp photographs with big-data-driven treatment outcome prediction models. Its flagship analytical capability is an anatomical coordinate-based quantitative hair loss analysis technique that aligns serial scalp images to facial reference points for objective longitudinal tracking, built on clinical feedback drawn from over 4,000 clients and more than 20,000 hair transplant procedures. The IP portfolio extends beyond software to include registered patents for hair growth factor secretion-promoting compositions based on mitochondrial activation, laser and electromagnetic scalp management devices, DB-based state-specific hair loss treatment systems, smartphone-integrated personal hair loss systems, and proprietary bacterial strains (Actinomyces R434 and Kaldiophonbacter R161) with antibacterial, antioxidant, whitening, and wrinkle-improvement effects. Industrial designs protect the form factor of A.TRACER, BallPod, and A.GATE devices, while registered trademarks cover the corporate identity and the BALLVIC, MEDECEAN, Re:Cellby, Polycusion, and EVETURN brand surfaces.

Innogene operates a hybrid B2B/B2C revenue model with four identified streams: (1) hardware sales of treatment and diagnostic devices to medical institutions via direct enterprise field sales; (2) sales of cosmetic products through retail channels under its multi-brand portfolio; (3) subscription- or service-based quantitative analysis engagements with medical institutions for treatment effect verification and follow-up; and (4) licensing royalties for proprietary bacterial strains and treatment methodologies. The company filed for KOSDAQ listing in January 2023 through a public offering of 2,730,000 common shares and continues to participate in national research collaborations on stem-cell-based skin regeneration and hair growth factor activation.

Name

Innogene

Legal name

주식회사 이노진 (InnoGene Co., Ltd.)

Website

https://innogene.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Innogene (KOSDAQ: 344860) is a South Korean anti-aging company developing hair loss treatment devices, scalp diagnostic systems, and cosmetics, selling to dermatology clinics via direct B2B channels and to consumers through its Ballvic, Dr.Medicean, and Re:Cellby brands.

Ownership category

akta.pro rank

Product category

Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Medicinal and Botanical Manufacturing (325411), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Perfumes, Cosmetics & Other Toilet Preparations (2844), Surgical & Medical Instruments & Apparatus (3841), Biological Products, (No Disgnostic Substances) (2836)

akta.pro industry

PRIMARYHSALADAC

Anti-Aging & Firming Treatments

Home & Personal Services/Personal Care & Beauty Services/Skincare & Facial Services

SECONDARYHLAAAGAA

Stem Cell–Based Regenerative Therapies

Healthcare & Life Sciences/Biotechnology & Biologics/Regenerative Medicine & Tissue Engineering

SECONDARYHLAHALAE

Skin Substitutes & Biologic/Regenerative Wound Therapies (Matrices, Grafts)

Healthcare & Life Sciences/Medical Devices & Diagnostics/Wound Care, Ostomy & Continence Products

Keywords

• Hair loss treatment
• Anti-aging cosmetics
• Medical diagnostic devices
• Stem cell research
• Skin regeneration solutions

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Medical Device Sales: Sale of hair loss treatment devices and diagnostic equipment to medical institutions and dermatology clinics including products like A.TRACER, BallPod, A.GATE.
2. Cosmetic Products: Sale of anti-aging and hair loss cosmetic products under brands including Ballvic, Dr.Medicean, and Re:Cellby.
3. Medical Institution Services: Quantitative analysis technology services for treatment effect verification and long-term follow-up observation in medical institutions.
4. Licensing Royalties: Technology licensing of proprietary bacterial strains and treatment methodologies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Innogene develops and sells proprietary anti-aging solutions combining skin regeneration stem cell research with medical informatics. Its portfolio includes medical devices for hair loss diagnosis and treatment (A.TRACER, BallPod, A.GATE), patented growth factor compositions, and consumer cosmetic brands (Ballvic, Dr.Medicean, Re:Cellby) for scalp, skin, and hair care. The company also offers image-based diagnostic systems and big-data-driven treatment outcome prediction for medical institutions.

Product overview

Innogene is a unified anti-aging solutions platform combining skin regeneration stem cell research and medical informatics convergence technology. The company operates a portfolio of three sub-brands—Ballvic (scalp and hair health), Dr.Medicean (professional skincare), and Re:Cellby (cell-based regeneration)—alongside a core hair loss treatment technology platform. The platform integrates hair loss treatment devices, growth factor compositions, image analysis diagnostic systems, and big data-based treatment prediction capabilities. The company also recently developed anatomical coordinate-based quantitative analysis technology for objective hair loss progression tracking.

Differentiator

Problem solved

Functional benefit

Brands

• Ballvic (볼빅): Hair loss treatment device brand including BallPod and A.GATE products
• Re:Cellby (리셀바이)
• Dr.Medicean (닥터메디션)

Products and services

• A.TRACER Scalp Diagnostic Device A scalp diagnostic device designed to objectively analyze and diagnose hair loss conditions using image analysis, for use by dermatology clinics and medical institutions.
• BallPod Hair Loss Treatment Device A medical hair loss treatment device sold under the Ballvic brand for dermatology clinics and hair loss treatment centers.
• A.GATE Hair Loss Treatment Device A medical hair loss treatment device for clinical use in dermatology and hair loss treatment settings.
• Ballvic (볼빅) Scalp and Hair Health Brand A consumer-facing sub-brand offering scalp and hair health solutions, including hair loss prevention products, scalp care treatments, and the BallPod/A.GATE treatment devices.
• Re:Cellby (리셀바이) Cell-Based Anti-Aging Brand A consumer sub-brand offering cell-based anti-aging and skin regeneration solutions derived from the company's stem cell research.
• Dr.Medicean (닥터메디션) Professional Skincare Brand A professional medical-grade skincare line including the MEDECEAN product line for dermatological skin care and treatment.
• Hair Loss Quantitative Analysis Technology An image analysis technology for medical institutions that uses facial anatomical reference points to align and compare scalp images taken at different time points, enabling objective quantitative tracking of hair loss progression and treatment outcome verification.
• Mitochondrial Activation Hair Growth Composition A patented cosmetic composition for hair loss prevention and symptom relief that promotes hair growth factor secretion through mitochondrial activation, used in functional hair care products.
• Skin and Scalp Management Device (Laser and Electromagnetic) A medical device combining laser irradiation and electromagnetic field generation for skin and scalp management in dermatology clinics.
• Polycusion (폴리쿠션) A branded cosmetic/cosmeceutical product line under Innogene's portfolio.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature6 records

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Amorepacific Corporation: Korea's largest cosmetics conglomerate (Sulwhasoo, Innisfree, Laneige). Comparable as competitor in Korean anti-aging cosmeceuticals and consumer skincare, but operates at significantly greater scale with global brand distribution.
• LG Household & Health Care: Korean beauty/cosmetics/consumer care leader (Whoo, Su:m, Ohui). Comparable in anti-aging and hair care consumer cosmetics, with domestic manufacturing and retail distribution that overlaps with Innogene's sub-brand strategy.
• Daewoong Pharmaceutical: Mid-tier Korean pharma with aesthetics/dermatology business (Nabota botulinum toxin). Comparable in selling through Korean dermatology clinics and pursuing the regenerative aesthetics pipeline, though Daewoong operates at much larger scale globally.
• Kolmar Korea Holdings: Leading Korean cosmetics manufacturer/ODM with growing brand portfolio. Comparable in domestic cosmetics manufacturing and anti-aging product development, but operates at a much larger contract-manufacturing-plus-OBM scale.

Regional players

• Cosmax Inc. World's largest cosmetics ODM/contract manufacturer with Korean roots, including R&D in cosmetic actives. Comparable as a Korean cosmetic manufacturer with stem-cell/regenerative cosmetic development capabilities, though Cosmax's business is contract-based rather than branded.

Direct peers

• Classys Inc. KOSDAQ-listed Korean maker of non-invasive aesthetic medical devices (Ultraformer, Volnewmer). Comparable as a Korean-listed aesthetic device company selling to dermatology clinics, though Classys focuses on lifting/contouring vs. Innogene's hair-loss/scalp niche.
• Dongkook Pharmaceutical: KOSDAQ-listed Korean pharma with hair loss product portfolio (finasteride-based). Most direct comparator in the Korean hair-loss therapeutics market, with similar regulatory and reimbursement exposure but a drug-based rather than device-based model.

Emerging players

• Wontech Co., Ltd. Korean manufacturer of medical/aesthetic laser devices including hair removal and scalp treatment. Comparable as a Korean developer of aesthetic light/laser hardware for clinics, overlapping with Innogene's laser and electromagnetic scalp management devices.
• Caregen Co., Ltd. Korean biotech specializing in cosmetic and pharmaceutical peptides/biomimetic growth factors. Highly comparable R&D overlap in growth-factor-based skin and hair regeneration, though Caregen focuses on B2B active ingredients versus Innogene's branded device+cosmetics model.
• WELT Corp. Small Korean aesthetic medical device maker focused on hair-loss and skin treatment devices including AI-assisted scalp analysis. Closely comparable niche focus (hair-loss devices with diagnostic/AI components) and similar scale to Innogene.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 Innogene