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Main company details for S-RACMO.
Sumitomo Chemical Company Limited (Head Office: Chuo-ku, Tokyo, Japan; "Sumitomo Chemical") and Sumitomo Pharma Co., Ltd. (Head Office: Chuo-ku, Osaka, Japan; "Sumitomo Pharma") announced today that they have agreed to change their respective ownership ratios in their joint venture Contract Development and Manufacturing Organization (CDMO), S-RACMO Co., Ltd. (“S-RACMO”), a company that develops manufacturing methods and manufactures products for the regenerative medicine and cell therapy field. On October 1, 2024, Sumitomo Chemical’s ownership ratio will increase to 66.6% from 49%, and it will lead the CDMO’s business operations.
The field of cell therapy had a market size of approximately $2 billion in 2022, and it is expected to grow rapidly at an annual rate of 10-15% going forward. S-RACMO was established and began business operations in 2020. It has been leveraging Sumitomo Chemical’s platform technology in iPS/ES cells, along with its know-how as a contract manufacturer of pharmaceuticals, while also taking advantage of Sumitomo Pharma’s expertise gained by developing sophisticated manufacturing methods and pharmaceutical development through its many years of research and multiple projects in the regenerative medicine and cell therapy business. Combining these strengths, S-RACMO has been working to deepen and further enhance its capabilities as a CDMO in the regenerative medicine and cell therapy field. In addition to a manufacturing facility whose establishment was completed in 2021, it is in the midst of constructing a new manufacturing facility that is scheduled to be completed in 2025. In terms of its financial performance, as well, it has recorded profits in three consecutive years since fiscal 2021, while also achieving increasing profits.
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