Notice of completion of the equity warrant exercise of Japan Tissue Engineering Co., Ltd
December 18, 2014
FUJIFILM Holdings Corporation (President: Shigehiro Nakajima; hereinafter Fujifilm Holdings) announced that FUJIFILM Corporation (hereinafter Fujifilm ) has completed payment, on December 18, 2014, to exercise all of the equity warrants of Japan Tissue Engineering Co., Ltd. (President: Yosuke Ozawa; Hereinafter “J-TEC”). Exercising these rights will increase the proportion of outstanding J-TEC shares held by Fujifilm Group to 50.33%(*1), and J-TEC will therefore become a consolidated subsidiary of Fujifilm Holdings.
The promotion of practical applications for regenerative medicine(*2) is one of the key growth strategies advocated by Prime Minister Shinzo Abe (“Abenomics”), and on November 25, 2014, the government will enact the Act on Ensuring Regenerative Medicine Safety and the Act on Pharmaceuticals and Medical Devices (Amendment to the Pharmaceutical Affairs Act). Among the provisions of these laws, the fast-track approval process that supports early commercialization of regenerative medicine products, and the outsourcing of cell culturing from medical institutions to external companies, are designed as a form of regulatory reform that accelerates the industrialization of regenerative medicine in Japan. It is in this environment that Fujifilm Holdings accelerates the development of RCP(*3)—compounds with excellent biocompatibility that can be processed into various formulations—as the “scaffold”(*4) to aid cell growth and proliferation, required in regenerative medicine and it has transformed J-TEC into a consolidated subsidiary in order to accelerate the development of regenerative medicine products, expand business areas covered by the regenerative medicine and strengthen J-TEC's financial base.
J-TEC is Japan's only bio-venture enterprise that deals with regenerative medical products. It has obtained approval for manufacturing and distribution of Autologous Cultured Epidermis(*5), “JACE”, and Autologous Cultured Cartilage(*6), “JACC”.
- President : Yosuke Ozawa
- Location : 6-209-1 Miyakitadori, Gamagori, Aichi 443-0022, Japan
- Establishment : February 1, 1999
- Capitalization : 7,794 million yen
- Business description : R&D, manufacturing and marketing of regenerative medical products and R&D support products
*1 Calculated on the basis of the total number of outstanding shares in J-TEC on September 30, 2014, including those owned by both Fujifilm and Toyama Chemical Co., Ltd., a subsidiary of Fujifilm Holdings.
*2 Regenerative medicine is a medical technology that involves the use of cultured cells or tissue to regenerate damaged organs and tissue and restore the functionality of affected parts of the human body. The three key factors of regenerative medicine are (1)“cells” that differentiate and proliferate to form human tissue, (2)“cytokine” that induces cell differentiation and proliferation and (3)“scaffold” required for normal cell growth and proliferation.
*3 Human-type collagen, synthesized with microorganisms, using genetic engineering technology
*4 An extracellular material that provides the base for cells to attach to and correctly proliferate (also known as extracellular matrix)
*5 A regenerative medicine product that involves culturing a patient's own epidermal cells, and forming a sheet to be placed back to the patient for the purpose of regenerating the skin
*6 A regenerative medicine product that involves culturing a patient's own chondrocytes, and turning them into gel to be placed back to the patient for the purpose of regenerating cartilage.
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