Sumitomo Chemical Enters into Equity Participation and Business Alliance Agreement with Myoridge to Promote the Use of Regenerative Medicine and Cell Therapy
Apr. 25, 2022
Sumitomo Chemical Co., Ltd. has signed an equity participation and business alliance agreement with Myoridge Co., Ltd., a startup company spun out from Kyoto University that has a wide range of cell culture technologies. Sumitomo Chemical will accelerate its efforts to promote the use of regenerative medicine and cell therapy, such as quality improvement and production cost reduction for cell products*, by bringing together the technologies and resources of both companies.
Cell products are used as regenerative medicine, cell therapy, and biopharmaceuticals, and the market has high growth potential. In addition, cell products are used for supporting the development of pharmaceuticals and agricultural chemicals, while cultured foods using cell products are expected to become a solution to the problem of food security. The quality of cell products and the cost of culturing them, however, have posed a significant challenge to research and development and commercialization efforts. Myoridge possesses and has developed a wide range of cell culture-related technologies, including iPS cell differentiation and induction technology and its proprietary culture medium screening technology, and has contributed to solving various issues faced by companies that handle cell products.
The Sumitomo Chemical Group defines the regenerative medicine and cell therapy business as a promising area where the Group can leverage the fundamental cell culture-related technologies that it has cultivated through research and development of pharmaceuticals as well as safety testing for agricultural chemicals. In September 2020, Sumitomo Chemical and its subsidiary, Sumitomo Pharma Co., Ltd., established S-RACMO Co., Ltd., a joint venture company for contract development and manufacturing business in the field of regenerative medicine and cell therapy. S-RACMO started the operation of a manufacturing facility this February, and is stepping up efforts to expand its business. Sumitomo Chemical will further advance business development in the field of regenerative medicine and cell therapy through the alliance with Myoridge, while also working to explore new business opportunities by building an innovation ecosystem.
The Sumitomo Chemical Group has positioned “accelerating the development of next-generation businesses” as a pillar of the basic policy under its Corporate Business Plan for FY2022 to FY2024, and is striving to create new businesses in the four priority areas of environment, healthcare, food, and ICT. The Group will continue to work as one to develop innovative technologies and seize new business opportunities, and contribute to achieving a sustainable society.
* Human or animal cells that have been cultured or otherwise processed, such as iPS cells
A spinning out start-up company from Kyoto University, which has technologies of producing iPS cell derived cardiomyocytes by protein-free differentiation method, and culture medium development. Myoridge offers bespoke culture medium development services using its own culture media components database and manufacturing process development support. Myoridge provides infrastructure technology spreading beyond the boundaries of companies and industries through research and development, products, and services focusing on cells. For additional information, visit the company’s website at https://myoridge.co.jp/en/
Sumitomo Chemical Co., Ltd.
Corporate Communications Dept.