Cumulative Funds Raised Amount to Approximately 1.7 billion yen (Approximately $11.3 million USD)
KOBE, Japan–(BUSINESS WIRE)–VCCT Inc.(President: Masayo Takahashi) is pleased to announce the completion of a private equity allotment of approximately 600 million yen ($4 million USD). The allotment involved new shares to Sysmex Corporation (President: Kaoru Asano), DAI-DAN CO., LTD. (Representative Director, President: Ichiro Fujisawa), and YASKAWA Electric Corporation (Representative Director, President: Masahiro Ogawa). VCCT will continue to accelerate the development of retinal regenerative medicine together with these partners.
With the completion of this fundraising round, the total amount of funds raised by VCCT now amounts to 1.7 billion yen ($11.3 million USD). This includes 800 million yen ($5.3 million USD) in convertible bonds, as well as approximately 300 million yen ($2 million USD) in capital loans from Japan Finance Corporation, The Shoko Chukin Bank, Ltd., and Kobe shinkin bank (as of 31st October 2023 1$=150 yen).
VCCT is dedicated to the development and application of cutting-edge cell therapy treatments focusing on retinal diseases. Our CEO, Masayo Takahashi, led the world’s first clinical study of retinal cell transplantation derived from induced pluripotent stem cells (iPS cells) in 2014 when she was with RIKEN BDR, and VCCT has since conducted numerous clinical studies of retinal regenerative medicine in collaboration with the clinical team at Kobe City Hospital. As a front runner in regenerative medicine research, VCCT has accumulated a wealth of clinical expertise in this field.
Furthermore, in July 2023, a consortium including VCCT was selected by the Ministry of Economy, Trade and Industry (METI) for the second supplementary budget of FY2022 for the “Infrastructure development Project for Implementation of Regeneration, Cell Therapy, and Gene Therapy”. VCCT will play a central role in this project with its joint research partner Kobe City Eye Hospital to develop processes for automated cell production, quality information management system, and the system for suitable patient selection. Our goal is to establish an end-to-end supply chain and viable business model for regenerative medicine.
A word by Masayo Takahashi, President of VCCT Inc.
We are grateful for the support of our business partners, financial institutions, stakeholders, and the Japanese government. The development of retinal regenerative medicine is progressing smoothly.
With the funds secured from this private equity allotment and the Ministry of Economy, Trade and Industry’s grant, we will accelerate the establishment of infrastructures needed for a viable business to provide regenerative medicine. With clinical demonstration of its benefits, VCCT will aim for full-scale commercialization in Japan as soon as possible. We will also initiate global development of our therapy products, and are currently preparing to raise further funds from international investors.
Company Profile
Company name: VCCT Inc.
Location: Kobe Eye Center 5F, 2-1-8 Minatojima-minamimachi, Chuo-ku, Kobe, 650-0047, Japan
Representative: Masayo Takahashi, Representative Director, President, and CEO
Established: March 8, 2021
URL: https://www.vcct.jp/en/
VCCT is a seed/growth-stage biotechnology company developing a portfolio of ex vivo and in vivo cell therapy solutions for ocular diseases. We are a proud member of the Kobe Eye Center Initiative, a consortium of organizations that unifies research, clinical practice, and patient care, for the benefit of patients suffering from ocular diseases. Under the guiding principle of “Total solutions for every patient”, we challenge ourselves to think of every possible way to improve the lives of the visually impaired people.
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Contacts
VCCT Inc.
ct_info@vcct.jp
Query form (preferred) https://www.vcct.jp/en/get-in-touch-en/