바이오스펙테이터

by Jongwon Jang

Recognized as a non-rodent test laboratory to strengthen the GLP Business and to promote new growth engines in full swing, including new drug screening, clinical Intermediation, and technology transfe

The South Korean non-clinical CRO Croen plans to aggressively expand its businesses this year. The company has completed the construction of a new GLP center which is expected to serve as an outpost of its businesses and will start operation in March.

CEO Seongjin Baek said."2020 will become the most critical year for Croen for its second leap forward. We will do our upmost efforts to improve profitability by stabilizing our CRO business and to increase the corporate value by promoting new businesses."

As Kangstem Biotech became its new largest shareholder in 2017, Croen ushered in an opportunity for growth. In 2019, Croen successfully attracted the investment worth 7 billion KRW from Medici Investment and DS Asset Management and 3 billion KRW from Kangstem Biotech and established the foothold for business expansion.

Croen has been building a GLP center on a plot size of 3,300m² near Yeongtong-gu of Suwon City and received a completion permit this month.

This center can perform animal experiments with rodents such as mice and rats and with non-rodents such as beagle dogs and rabbits. In addition, the company plans to secure space and professional personnel who can perform safety pharmacological tests.

CEO Baek said, "We aim to achieve the certification as a GLP testing laboratory for non-rodent single-dose toxicity test in the second half of this year. This will make possible one-stop GLP toxicity test from rodents to non-rodents for entry into clinical trial. This is expected to increase sales by a significant degree and to improve profitability."

Croen will strengthen its existing GLP business and promote new businesses in full swing.

First, the company will expand new drug screening business. It is also trying to develop and commercialize a new drug leading material optimization test package, called "Croen Lead Screening Package." This package includes in vitro safety test, pharmacokinetics and bioavailability test, genotoxicity test, and in vivo preliminary toxicity test.

The company plans to build a screening business for new drug candidates on stem cell-based organoid chips and to develop leading materials. Since its the largest shareholder, Kangstem Biotech, possesses the original technology in this filed, it is expected to generate synergetic effect.

The clinical translational research program, called TRACS (Translational Research and Animal Clinical Study), is a self-established domain. TRACS is a service used as a tool for optimizing clinical trial plans for humans by evaluating the efficacy and side effects of new drug candidates in pet dogs and cats (sick dogs or cats).

Croen will start technology transfer (licensing) business in earnest from the latter half of this year. It is a business model for technology transfer through exploration, discovery and development of promising new drug candidates by taking advantage of the non-clinical CRO.

CEO Baek said, "The company plans to build a system and secure manpower for licensing business and to secure manpower. We will seek technology transfer of new drug candidates introduced and developed in cooperation with pharmaceutical companies and research institutes and new drug candidates acquired through TRACS."