What Croen does

Croen (operating as HLB bioCode Inc., 에이치엘비바이오코드) is a preclinical Contract Research Organization headquartered in Suwon, Gyeonggi-do, South Korea, founded in 2009. The company delivers GLP-certified preclinical testing services to pharmaceutical and biotechnology clients, spanning safety assessment in rodent and non-rodent species, toxicologic and clinical pathology, pharmacokinetic and toxicokinetic (PK/TK) bioanalytical evaluation, safety pharmacology, efficacy evaluation, and early-stage lead optimization screening. It also provides chemical substance registration evaluation under Korean regulatory frameworks (Chemical Substances Control Act and Chemical Registration and Evaluation Act, 화평법/화관법). Its technology platform is built on validated bioanalytical method development, formulation validation, and biological sample analysis with reliability assurance (신뢰성 보증) processes disclosed on the company's website.

The company generates revenue through project-based professional services contracts under a direct B2B sales-led motion, supported by dedicated business development personnel for non-clinical trial inquiries, GLP toxicology inquiries, and a structured online consultation system (trial consultation applications, visit consultation bookings, general inquiries). Customers are concentrated in two primary horizontal segments — pharmaceutical companies requiring GLP-certified safety and toxicology data for regulatory submissions, and biotechnology companies requiring preclinical efficacy and safety evaluation. Marketing is inquiry-based with no disclosed pricing; commercial engagement proceeds through direct email ([email protected]) and phone, supplemented by an institutional website.

Croen holds publicly listed status on the Korean exchange, evidenced by regular shareholders' meetings (17th meeting notice issued March 10, 2026) and third-party stock issuance announcements (November 21, 2025). Active strategic MOUs include a genetic-disease drug development partnership with Medici Bio (March 2023), a strategic business cooperation with Nexcel (November 2022), and an academic knowledge-linkage with Seoul Hoseo Professional School's Companion Animal Science department (April 2021). Geographic footprint disclosed in source material is limited to South Korea (Gyeonggi Province), though the services support global pharmaceutical development programs.

Name

Croen

Legal name

HLB bioCode Inc.

Website

https://croen.co.kr

Company type

Public

Founded year

2009

Operating status

Operating

Short description

Croen (HLB bioCode Inc.) is a South Korean preclinical Contract Research Organization delivering GLP-certified safety assessment, toxicology, PK/TK bioanalysis, toxicologic pathology, efficacy evaluation, and chemical substance registration services to pharmaceutical and biotechnology clients.

Ownership category

akta.pro rank

Product category

Preclinical Contract Research Services (CRO)

NAICS

Testing Laboratories and Services (54138), Scientific Research and Development Services (5417)

SIC

Services-Commercial Physical & Biological Research (8731), Services-Testing Laboratories (8734)

akta.pro primary industry

Toxicology & Safety Assessment CROs (GLP) (HLAGAAAC)

akta.pro secondary industries

Bioanalytical & Biomarker CROs (PK/PD/Immunogenicity) (HLAGAAAD), Preclinical CROs (Discovery/Pharmacology/DMPK) (HLAGAAAB), Medical Writing & Regulatory Submission Support CROs (HLAGAAAG)

Keywords

• Preclinical CRO services
• GLP toxicology testing
• Pharmacokinetic analysis
• Safety pharmacology evaluation
• Drug development testing

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Preclinical CRO Services: Contract research organization services providing GLP-certified preclinical testing including safety assessment, toxicology, PK/TK analysis, and efficacy evaluation for pharmaceutical and biotech clients. Revenue generated through project-based contracts for drug development studies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Croen (HLB bioCode) operates as a preclinical Contract Research Organization (CRO) providing GLP-certified drug development testing services. Its offerings cover safety assessment in rodent and non-rodent species, toxicologic and clinical pathology, PK/TK analysis and bioanalytical evaluation, safety pharmacology, efficacy evaluation, lead optimization screening, and chemical substance registration compliance under Korean chemical control laws. Services are delivered to pharmaceutical and biotechnology clients on a project-based contract basis.

Product overview

Croen (HLB bioCode) operates as a preclinical Contract Research Organization (CRO) offering a unified platform of drug development services. The core offering is the Nonclinical CRO Business, supported by specialized testing modules including Safety Assessment (rodent/non-rodent), Toxicologic/Clinical Pathology, PK/TK Analysis and Pharmacokinetic & Analytical Evaluation Services, Safety Pharmacology Evaluation, Efficacy Evaluation, and Lead Optimization screening. Additional services include Chemical Substance Registration Evaluation for regulatory compliance. The company also provides GLP-certified testing and reliability assurance (신뢰성 보증) as part of its comprehensive service portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Nonclinical CRO Business Contract research organization services providing comprehensive preclinical testing solutions for drug development, including safety assessment, toxicology, and pharmacokinetic evaluations. Targeted at pharmaceutical and biotechnology clients requiring regulatory-grade preclinical data for drug development and approval submissions.
• Pharmacokinetic & Analytical Evaluation PK/TK analysis and bioanalytical services including analytical method development, feasibility testing, formulation validation (content, homogeneity, stability), concentration analysis, biological sample specificity and carry-over analysis, and pharmacokinetic/toxicokinetic parameter confirmation. For pharmaceutical and biotech R&D teams quantifying drug and metabolite concentrations.
• Safety Assessment (Rodents/Non-rodents) Safety evaluation testing in rodent and non-rodent species for preclinical toxicity assessment of drug candidates. For pharmaceutical and biotech sponsors requiring GLP-compliant general toxicology studies.
• Toxicologic Pathology / Clinical Pathology Pathology evaluation services combining toxicologic and clinical pathology expertise for preclinical safety assessment. Provides expert interpretation of histopathology, hematology, and clinical chemistry findings for drug development programs.
• Safety Pharmacology Evaluation Safety pharmacology assessment services evaluating potential adverse effects of drug candidates on vital organ systems (cardiovascular, central nervous system, respiratory). For sponsors needing ICH S7-aligned safety pharmacology data packages.
• Efficacy Evaluation Pharmacological efficacy assessment services to demonstrate therapeutic potential of drug candidates through in vivo/in vitro pharmacology studies. For pharmaceutical and biotech sponsors requiring proof-of-concept efficacy data.
• Lead Optimization (Early-Stage Drug Development Screening) Early-stage drug development screening and lead optimization services to identify and refine promising drug candidates before formal preclinical toxicology studies. For pharmaceutical and biotech R&D teams advancing candidates from discovery toward development.
• Chemical Substance Registration Evaluation (Compliance with Chemical Substances Control Act / Chemical Registration and Evaluation Act) Regulatory compliance evaluation services for chemical substance registration under Korean chemical regulations (화평법/화관법). For chemical manufacturers and importers requiring regulatory dossiers for product placement in the Korean market.

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Medici Bio (메디치바이오)coreStrategic or Co-development Partner · 17 March 2023Croen signed MOU with Medici Bio for collaborative development of genetic disease drugs. This strategic partnership focuses on developing novel therapeutics for genetic diseases, combining Croen's preclinical expertise with Medici Bio's research capabilities.
• Nexcel (넥셀)coreStrategic or Co-development Partner · 25 November 2022Croen entered into strategic business cooperation MOU with Nexcel. This partnership aims to leverage combined capabilities for enhanced service offerings in the preclinical and pharmaceutical development space.
• Seoul Hoseo Professional School Department of Companion Animal Science (서울호서전문학교 반려동물학과)minorStrategic or Co-development Partner · 28 April 2021Croen established knowledge linkage MOU with Seoul Hoseo Professional School's Companion Animal Science department. This collaboration supports academic-industry knowledge exchange in the veterinary and animal health sector.

Recent moves5 records

Expansion highlights4 records

Direct peers

• ChemPartner: Asia-based CRO providing preclinical, bioanalytical, and drug discovery services. Direct competitor in preclinical safety and PK/TK work, especially for cross-border Korean biotech sponsors.
• Frontage Holdings: Asia-headquartered CRO offering bioanalytical, preclinical, and clinical services. Closely comparable in scale and service mix to Croen, particularly around bioanalytical/PK and safety assessment.
• Biotoxtech: Korean preclinical CRO specializing in GLP toxicology and safety assessment — a direct domestic peer with overlapping service portfolio and similar regulatory positioning.

Broad incumbents

• Wuxi AppTec: Asia-based global CRO/CDMO with extensive preclinical safety, bioanalytical, and PK services. A key regional competitor for Korean biotech preclinical work, with much larger capacity.
• Medpace Holdings: Mid-sized global CRO with preclinical and clinical operations. While more clinical-focused, it competes for Korean biotech sponsor preclinical planning and bundled program work.
• Eurofins Scientific: Global testing services group with significant bioanalytical and pharmaceutical testing operations. Competes with Croen in bioanalytical method development and chemical registration testing services.
• Charles River Laboratories: Global preclinical CRO offering safety assessment, toxicology, and research models services. Direct overlap with Croen's GLP toxicology and safety pharmacology offerings, but at vastly larger scale and geographic reach.
• Labcorp Drug Development (formerly Covance): Full-service global CRO with significant preclinical and clinical capabilities. Competes with Croen for nonclinical safety and PK/TK studies from Korean biotech clients with global development programs.

Regional players

• PRC Eurofins (Eurofins Korea): Korean arm of Eurofins offering pharmaceutical and chemical testing services locally. Direct regional competitor for Croen's bioanalytical and chemical registration testing in the Korean market.
• Korea Testing & Research Institute (KTR): Major Korean testing and certification body with chemical and life sciences testing capacity. Overlaps with Croen's chemical substance registration testing work under Korean chemical regulations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Croen