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HOME >> Investor Relations >> Top Message >> Message Archive (January 4, 2016)

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To Our Investors - January 4, 2016 -

Happy New Year! And thank you for your continued support. Here are some updates about Japan Tissue Engineering (J-TEC).

Key Events in 2016

Yosuke Ozawa

J-TEC was founded on February 1, 1999. Seventeen years have already passed since then. It also has been a year since we became a member of the Fujifilm Group.

J-TEC’s goal for the year 2016 is to accumulate successful results and prove that regenerative medicine industry is established. No regenerative medicine companies in the world have yet to obtain approvals for multiple autologous cell products and make profits from manufacturing and distributing their own products. In order to be the first company to achieve that, we will strive to expand the sales of our existing products as well as bring in revenue from our contract-based development, consulting, and overseas operations.

We will also step up the development of our next products which will be our future revenue sources. We have a lot to do, including early completion of the clinical trial of our autologous corneal epithelium product, application for approval of an additional indication of giant pigmented nevus for the autologous cultured epidermis JACE (the clinical trial for this indication has been completed), as well as achieving successful results in the development project commissioned by Fujifilm, and mapping out our plans to expand the indications for the autologous cultured cartilage and to develop allogenic cultured products.

We will efficiently allocate our limited managerial resources. We intend to build up successful results to be an exemplary manufacturer among the Japanese biotech companies.

Progress in Industry Development

J-TEC’s corporate philosophy includes the phrase “through developing the regenerative medicine industry”. The difficulty in developing an industry, rather than a product or business, has been a challenge throughout our corporate history. An industry cannot be created with just one company. It requires competing companies. It also requires collaboration with stakeholders in many areas. In addition, a company cannot continue its business without reasonable profit. And most importantly, we must provide the products and services that our customers (patients and healthcare providers) need.

How much progress has been made in the regenerative medicine industry? A good news is that 2 products developed by our competitors were approved in September 2015. This means that, together with our 2 products, a total of 4 products are now on the market in Japan. And this was quickly followed by a discussion about the prices for the 2 newly-approved products that are appropriate for their characteristics as regenerative medicine products. Overseas regulatory authorities are studying Japan’s new regulatory system. And foreign-affiliated companies are exploring business opportunities in Japan. These are the signs that the competition has begun.

Our autologous cultured epidermis JACE has penetrated the market as a burn treatment option, after its approval in 2007 and various subsequent sales and marketing activities. On the other hand, our autologous cultured cartilage JACC is yet to be used widely in medical practice, although the sales is increasing steadily. We are fully aware that JACC and its marketing approach must be improved so that the product will be sought after by patients and healthcare providers.

The regenerative medicine industry has been enlivened by the significant changes in the external environment such as laws and regulations. In order to further advance the industry development, we must continue changing and improving the environment within our company, even more actively than the changes in the external environment. J-TEC is the company that opened the door to the regenerative medicine in Japan, and we simply cannot let ourselves fall behind in the competition. Please stay tuned.

January 4, 2016
Yosuke Ozawa
President & CEO
Japan Tissue Engineering Co., Ltd.