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HOME >> Investor Relations >> Top Message >> Message Archive (June 24, 2009)

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To all of our investors - June 24, 2009 -

Yosuke Ozawa, President and CEO Things that the Numbers Can't Say

To all the stockholders of J-TEC, I would like to thank you for your constant, unwavering support. With your help, we have developed the first tissue engineered medical product in Japan, and it has been recognized as a medical treatment eligible for health insurance coverage since January of this year. This autologous cultured epidermis “JACE”, is now steadily beginning to shape the market.

As a treatment for patients with severe burns, this tissue engineered medical product we call JACE has begun to penetrate into actual clinical practice. Tissue engineered medical products are now a reality. As has already been stated in notices about this product, in addition to the production approval conditions, JACE has also been granted Points to Consider related to the application of health insurance for this treatment.

As a result, the sales amount shown on the Profit and Loss Statement is slightly lower than the original J-TEC projections. However, J-TEC has acquired something that cannot be expressed in numbers. In the new industry that is tissue engineering, we now have actual results, and these results have opened doors and brought us the trust of the medical profession and regulatory agencies, as well as the ability to help a large number of patients.

Of course, there are some things we could only understand after we tried them out, and there are cases where our hypotheses have been proven wrong, but as the very first tissue engineered medical product to be approved by the Health, Labor and Welfare Ministry, in JACE, we are able to provide patients with a safe product and for this I take honest gratification. In addition to the running cumulation of actual JACE sales, we will move forward with the projects planned for our business during this fiscal year, including development of autologous cultured cartilage and autologous cultured corneal epithelium, and we believe these projects will help build an even deeper relationship of trust with you, our stockholders. It is my hope that the relationship we have begun with our stockholders will continue for a very long time.

June 24, 2009
Yosuke Ozawa
President & CEO
Japan Tissue Engineering Co., Ltd.

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