[Edaily Reporter Shin Ha-yeon ] HNH Bio ( HCT(072990)), a company specializing in testing, certification, and calibration, announced on the 7th that its subsidiary, H&H Bio, has completed a merger by absorption with HUMIC, a company specializing in preclinical efficacy evaluation.

The merger was structured with H&H Bio as the surviving company and HUMIC as the dissolving company. The purpose is to enhance management efficiency by integrating the two companies’ management resources and expertise, and to strengthen competitiveness in the non-clinical contract research organization (CRO) business. HCT will retain its status as the largest shareholder following the merger.

The two companies have been collaborating primarily in the fields of toxicity testing and efficacy evaluation, respectively. Through this merger, they plan to provide integrated preclinical CRO services that span from efficacy evaluation in the early stages of new drug development to toxicity testing.

Humic is a company that possesses non-clinical efficacy evaluation capabilities using humanized mouse models, as well as AI-based pathological analysis technology. It has built its research capabilities around a team of researchers from first-generation biotech firms and recorded revenue of 3.6 billion won and net income of 400 million won last year. Recently, the company has continued its growth momentum based on the expansion of its research infrastructure and an increase in orders.

HNH Bio is also showing signs of improved performance as it moves beyond the initial phase of investment in testing infrastructure. Revenue increased from 1.8 billion won in 2024 to 2.2 billion won in 2025, and first-quarter revenue this year reached 1.3 billion won, a 466% increase compared to the same period last year. Operating losses are also narrowing as revenue recognition from non-clinical trials secured last year begins in earnest.

The company expects that the inclusion of Humic’s performance following the merger will contribute to both revenue growth and improved profitability.

An HNH Bio official stated, “This merger is a strategic decision aimed at establishing an integrated value chain that provides both efficacy evaluation and toxicity testing in the preclinical CRO market,” adding, “Clients will be able to reduce new drug development timelines and management costs, while the company will enhance its business competitiveness and profitability by expanding its portfolio of package contracts.”

An HCT official noted, “As the establishment of HNH Bio’s production and sales infrastructure enters its final stages, recent revenue growth and improvements in profitability are gaining momentum,” adding, “Through this merger, we plan to accelerate the achievement of the break-even point (BEP) for our biotech business and cultivate HNH Bio as a pillar of mid- to long-term growth.”