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HOME >> Investor Relations >> Top Message >> Message Archive (January 5, 2011)

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To all of our investors - January 5, 2011 -

Yosuke Ozawa, President and CEOTo all of our investors and shareholders, who have supported Japan Tissue Engineering (J-TEC) and the commercialization of regenerative medicine, I would like to ask you to please provide your continuous support in 2011.

Results from 2 Years of Selling JACE

Exactly two years have passed since January 1, 2009, when we began selling, as a product covered by insurance, the autologous cultured epidermis, JACE, the only product approved in Japan in the regenerative medicine field. JACE is a medical material used for treating patients who have unfortunately suffered severe burns. Due to various factors – JACE is a made-to-order product; the cells that are its raw material differ with the patient; certain conditions must be met to obtain insurance reimbursement; and patients who need JACE are in serious condition – the business difficulties related to JACE have been greater than anticipated; unexpected things happen every day.

However, through the experience of these two years, our employees have begun to have confidence. This is due to the fact that, as a result of producing a high-quality product and providing it throughout Japan, from Hokkaido to Okinawa, we are gradually establishing, on the market, a solid reputation as a manufacturer. Of course, we are also sincerely happy that we are contributing to helping burn patients.

The third year of our JACE business begins in January. JACE is a product that represents J-TEC. At the same time, it is a symbol of Japanese regenerative medicine. We plan to carefully nurture and grow our JACE business.

The Outlook for 2011

The coming year will be a very important year for J-TEC’s development. That is because of our cartilage product. In August 2009, we applied to the Ministry of Health, Labor and Welfare for approval to manufacture and sell autologous cultured cartilage, and we hope to obtain it in 2011. Society is aging not only in Japan but throughout the world. Autologous cultured cartilage is a technical breakthrough that can truly improve the quality of people’s lives. We will do our utmost to provide this product to patients at the earliest possible date.

Next, we hope to produce concrete results through our capital and business alliance with the Fujifilm Corporation. Fujifilm and J-TEC regularly hold steering committee meetings to discuss the alliance’s content and priorities. In addition, we have begun to exchange personnel with each other. In contrast with Fujifilm, which has more than 70,000 employees, J-TEC is an organization with less than 150 people; as a result, we have both made discoveries about the differences between our decision-making processes and the disparities between our managerial resources. I would like for us to use our respective strengths in working together.

And then there is our overseas operation based in Singapore, where we opened an office at the end of last year, on December 1. Working together with local government agencies, especially the regulatory authorities, we will endeavor to become able to provide J-TEC’s top-quality regenerative medicine products to people not only in Asia but throughout the world.

To meet our shareholders’ expectations, we will engage in business with energy and a sense of urgency.

January 5, 2011
Yosuke Ozawa
President & CEO
Japan Tissue Engineering Co., Ltd.