Transfer of Shares in Japan Tissue Engineering Co., Ltd. to TEIJIN LIMITED
January 29, 2021
TOKYO, January 29, 2021 ― FUJIFILM Corporation (President: Kenji Sukeno) has announced that it has entered into an agreement (Application Agreement) with TEIJIN LIMITED (TEIJIN) today, under which it agrees to tender for a tender offer (Tender Offer) to be conducted by TEIJIN for the shares of common stock in Japan Tissue Engineering Co., Ltd. (J-TEC), a consolidated subsidiary of Fujifilm. If the Tender Offer is completed, J-TEC will no longer be a consolidated subsidiary of Fujifilm.
Fujifilm sets healthcare as one of its key business field and pursues the growth strategy. Among others, in the field of biotherapeutics, Fujifilm has been expanding its business in areas such as biopharmaceutical contract development and manufacturing, for which Fujifilm has been actively investing in facilities, and regenerative medicine including drug discovery support providing iPS cell and cell culture media, which are necessary for research and development of new medicine.
Furthermore, in order to strengthen the research and development in the field of biotherapeutics, Fujifilm has established “Bio Science & Engineering Laboratories” in Japan and the US, where it has integrated basic research through production process development in such field. Fujifilm has been working on researches including bio-informatics such as analysis of cellular metabolism and gene expression, cell-engineering such as genome editing technology, automation technology for cell manufacturing and new technology for drug discovery support using cell.
From now on, Fujifilm will direct more attention to the field of biotherapeutics, where the needs of society are high and the market is expected to keep growing in the future. In addition to accelerating the growth in the biopharmaceutical contract development and manufacturing business through the active investment, Fujifilm will expand the regenerative medicine business with its focus on cell and cell culture media, where the strength of Fujifilm is maximized, by reinforcing the drug discovery support business. Furthermore, Fujifilm will conduct effective R&D in collaboration with partners and promote contract development and manufacturing business in cell therapeutics medical field, where the market is emerging and significant growth is expected, to expand the regenerative medicine business.
In an attempt to optimize the business portfolio in the field of biotherapeutics, Fujifilm determined that TEIJIN is the best partner for J-TEC and decided to enter into the Application Agreement in order to further accelerate the growth strategy for J-TEC. As J-TEC engages in development, manufacturing and sales of regenerative medicine products targeting tissue generation such as skin and cartilage, and TEIJIN has management policy and business strategy similar to J-TEC, they are expected to create synergy to the existing products of both parties in the orthopedics field.
Fujifilm continues to contribute to further development of pharmaceutical industry and industrialization of regenerative medicine by actively promoting business in the field of biotherapeutics.