◇[E-Daily Reporter SONG YOUNG-DOO ] Hugel, Inc. and HANS BIOMED CORPORATION have begun jointly marketing “CellREDM,” a human tissue-based skin booster. While this appears to be a distribution agreement on the surface, analysts view it as a win-win partnership aligned with both companies’ skin booster business strategies. Hugel, Inc. has gained time needed to develop its own skin booster, while HANS BIOMED CORPORATION has secured a dermatology sales network it previously lacked. This is the backdrop behind the two companies—which are likely to compete in the same skin booster market in the future—choosing to join forces first.

According to a comprehensive report by E-Daily on the 6th ( Hugel, Inc.(145020)and HANS BIOMED CORPORATION(042520)), the two companies have focused on establishing a strategic partnership that goes beyond simple co-marketing to fill each other’s gaps. Their interests aligned: Hugel, Inc. can expand its product portfolio in the short term, while HANS BIOMED CORPORATION can broaden its sales channels to accelerate market penetration.

Hugel, Inc. recently received a license (License No. 349) from the Ministry of Food and Drug Safety to establish a tissue bank. The scope of the license covers “storage, distribution, and import,” but does not include “processing,” which involves the direct processing of tissue. The types of tissue handled are also limited to skin. Ultimately, Hugel, Inc. will serve as a distributor rather than a manufacturer, while HANS BIOMED CORPORATION will be responsible for manufacturing Cell-D’em. This approval effectively marked the final administrative step required for the sale of Cell-D’em.

Hugel, Inc. Builds a “Total Skin Booster Platform”… CellDiem Is the Final Piece of the Puzzle

Hugel, Inc. decided to partner with HANS BIOMED CORPORATION not simply to secure a single ECM product. The company’s vision is to build a “Total Skin Booster Platform” that encompasses a variety of active ingredients.

Starting with “ByRizon,” the HA (hyaluronic acid)-based skin booster currently on the market, the company’s strategy is to incorporate most of the non-HA ingredients used in the market—including human-derived collagen, PN and PDRN, PLLA and PDLLA, recombinant collagen, CaHA, PCL, and exosomes—into its portfolio. To achieve this, the company is pursuing a two-track strategy: in South Korea, it is combining co-promotion and in-licensing, while overseas, it is leveraging open innovation and region-specific mergers and acquisitions (M&A).

A Hugel, Inc. official explained, “Rather than focusing on a single specific ingredient, our goal is to build a diverse lineup of skin boosters to provide a one-stop solution for medical professionals and patients,” adding, “Since in-house product development takes time, our strategy is to rapidly expand our portfolio through proactive business development (BD).”

In fact, Hugel, Inc. is currently developing its own HA- and PN-based skin boosters. However, approval is not expected until after 2030. Since the company cannot leave the market vacant until development is complete, the plan is to first secure a product lineup through the introduction of external products and then complete the portfolio with in-house products.

A Hugel, Inc. official explained, “We are considering developing skin boosters using human collagen,” adding, “L&C BIO was already collaborating with Humedix Co., Ltd., and after comprehensively evaluating product competitiveness and AATB certification, Cellerdiem emerged as the most suitable partner.”

From Potential Competitor to Strategic Partner: Overseas Expansion Also Under Consideration

What’s interesting is that, since Hugel, Inc. is considering developing its own skin boosters, there is a possibility it could compete with HANS BIOMED CORPORATION in the future. However, HANS BIOMED CORPORATION does not view this as a direct competitive relationship.

A HANS BIOMED CORPORATION official stated, “The products Hugel, Inc. is developing use different raw materials than HANS BIOMED CORPORATION’s products,” adding, “As far as we know, CellDiem is based on human tissue, whereas Hugel, Inc. is developing its products by harvesting and culturing cells.” The spokesperson continued, “Since it is still in the development stage, we understand that commercialization is about five years away. In the meantime, we are preparing various strategies, such as expanding our medical device product line, so we do not view this as a direct competitive relationship.”

Industry observers believe HANS BIOMED CORPORATION is likely to be the first to benefit directly from this collaboration. While HANS BIOMED CORPORATION has operated a sales network focused on plastic surgery clinics through its subsidiary Mint Medical, it has been relatively weak in the general dermatology market. Although it was able to target chain dermatology clinics, it faced limitations in providing comprehensive coverage of small and medium-sized dermatology clinics nationwide.

In contrast, Hugel, Inc. possesses one of the strongest sales networks in the domestic dermatology market. Its sales force is reportedly more than three times the size of HANS BIOMED CORPORATION’s. A HANS BIOMED CORPORATION official stated, “We focus on plastic surgery, while Hugel, Inc. focuses on dermatology, so our core sales networks do not overlap,” adding, “We expect that by leveraging Hugel, Inc.’s sales network, we will be able to reach small-scale dermatology clinics in regions we previously could not access.”

From the outset, the two companies defined distinct roles to ensure their sales channels did not conflict. A HANS BIOMED CORPORATION official explained, “We preemptively separated our sales networks to avoid overlap. We plan to create synergy by jointly promoting Celdiem at Hugel, Inc.’s events and introducing Hugel, Inc.’s toxins and fillers at our events.”

The collaboration between the two companies extends beyond the domestic market. HANS BIOMED CORPORATION has a strong presence in the U.S. and Thai markets, while Hugel, Inc. is highly competitive in the Australian market. The U.S. is also a region where Hugel, Inc. is actively expanding its business.

A HANS BIOMED CORPORATION official stated, “Although the current agreement is limited to domestic sales, there is ample room for collaboration overseas in the long term,” adding, “Leveraging the countries where each company has strengths will be mutually beneficial.”