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HOME >> Investor Relations >> Top Message >> Message Archive (January 7, 2013)

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To Our Investors - January 7, 2013 -

Happy New Year! I would like to report as follows on the environment now surrounding Japan Tissue Engineering (J-TEC).

The External Environment in 2013

Yosuke Ozawa

There has been a change of government in Japan. The relationship that our company and other bio-venture companies established with the previous administration will thus undergo an adjustment. On the other hand, overall policy regarding the life sciences field should remain essentially the same under the new administration. In particular, regenerative medicine will likely continue to be seen as one of the most important fields of medical innovation.

Moreover, revision of the Pharmaceutical Affairs Act, and legislation related to regenerative medicine, have been proposed as measures not only for promoting research related to iPS cells but also for advancing regenerative medicine technology and products – in which Japan takes great pride – to a practical stage at an early date. J-TEC, which possesses two approved products in the regenerative medicine field, wants to make a constructive contribution to this historic event.

The Internal Environment in 2013

J-TEC’s most important goal in 2013 is to smoothly launch the business for our autologous cultured cartilage, JACC. We obtained approval to manufacture and sell JACC in July, 2012. At present, in cooperation with the Ministry of Health, Labor and Welfare and affiliated societies, we are working to get JACC covered by insurance. I believe that you too, as investors, are highly interested in how much the insurance-reimbursed price for JACC will be, and in which medical institutions treatment with JACC can be received. We intend to steadily disseminate the high quality JACC – Japan’s second regenerative medicine product – by safely delivering it to medical institutions and conducting thoroughgoing follow-up on post-implantation patients.

J-TEC has numerous other goals besides launching the JACC business. While it is a continuous process of trial and error, we are progressing step by step towards realizing our corporate aspiration of commercializing regenerative medicine.

《Main Goals》
  • Making the business for JACE (autologous cultured epidermis) profitable. Sales are currently increasing, but production of 30-50% of orders has to be discontinued prior to shipment due to the death of the patient or for other reasons.
  • Establishing an order of priority for future product development. In particular, it is necessary to clearly prioritize challenging development projects for needed products.
  • Accelerating overseas expansion. Overseas, we will demonstrate the scientific technology, manufacturing and sales know-how, and product quality which J-TEC has developed, and thus endeavor to improve the company's earnings.

Six years have passed since J-TEC became a publicly traded company. On January 1, 2013, the Japan Exchange Group was founded. Signs of recovery are seen in the stock market; overall, however, the harsh conditions in the current business environment of corporations are likely to continue. As a bio-venture that is unique manufacturer, J-TEC aims to become a company that sustains both hope and profit, and that handsomely rewards its shareholders.

On our website, we will update you on the company's situation whenever the occasion warrants. Finally, I ask that you please continue to provide us with your valued support in the coming year.

January 7, 2013
Yosuke Ozawa
President & CEO
Japan Tissue Engineering Co., Ltd.