A-SEEDS

What A-SEEDS does

A-SEEDS Co., Ltd. (株式会社A-SEEDS) is a clinical-stage Japanese biotechnology company founded in April 2020 as a spin-out from Shinshu University, headquartered in Matsumoto, Nagano Prefecture. The company develops non-viral gene-modified CAR-T cell therapies for cancer patients with limited treatment options, particularly those with relapsed/refractory solid tumors (including Ewing sarcoma) and hematologic malignancies such as acute myeloid leukemia. Its proprietary technology platform uses the PiggyBac (PB) transposon system for gene delivery, avoiding the limitations of viral vectors and producing CAR-T cells with high stem cell memory-like T cell content, reduced immune exhaustion (low PD-1 expression), and lower manufacturing costs. The clinical pipeline includes three products: AP8901/ACS2015 (EPHB4-targeted, with dual EPHB4 + EPHA2 targeting to address solid tumor heterogeneity, in Phase 1 with first-in-human dosing completed May 2025) and AS116 (GMR-targeted for AML, Phase 1 ongoing at Shinshu University Hospital). Two investigator-initiated Phase 1 trials are currently running in Japan, with a company-sponsored Phase 1/2a trial (CARTiEr E312) planned for H1 2026 in Australia via CDMO partner Cell Therapies Pty Ltd.

The company's business model combines future CAR-T product sales to hospitals and cancer treatment centers, technology out-licensing and royalties to global pharmaceutical partners, and current reliance on non-dilutive government grants (NEDO Deep Tech Startup Support Program and AMED programs) supplemented by equity financing. The GTM motion is enterprise-focused: advancing clinical trials in Japan and Australia, establishing GMP manufacturing via CDMO partnerships (Teijin Reimnet domestically, Cell Therapies internationally), and pursuing licensing deals with global pharma for technology transfer. Key strategic partners include Shinshu University (founding institution), Teijin Limited (co-development MoU), Cell Therapies (Australian manufacturing), AMED's 14-company domestic consortium, and NEDO's deep tech startup program. The company has raised approximately ¥2.82B in equity (¥440M seed Jan 2024 + ¥2.38B Series A Jul 2025) with potential for up to ¥9.2B in additional NEDO non-dilutive matching grants.

A-SEEDS operates with 11-50 employees and is led by CEO Shigeki Yagyu and Founder/Director Yozo Nakazawa, both trained at Baylor College of Medicine's Center for Cell and Gene Therapy. The company holds proprietary patents on PiggyBac transposon-mediated CAR gene expression and dual-targeting CAR constructs, with advisory board support from CAR-T pioneers Dr. Malcolm K. Brenner and Dr. Cliona M. Rooney. As a pre-revenue clinical-stage biotech, A-SEEDS' value proposition rests on differentiated non-viral manufacturing economics, preserved T cell memory function enabling sustained efficacy, and dual-antigen targeting to address solid tumor heterogeneity — positioning the company to compete against established viral vector-based CAR-T products while targeting indications (notably solid tumors) where first-generation CAR-Ts have demonstrated limited efficacy.

Name

A-SEEDS

Legal name

株式会社A-SEEDS

Website

https://www.a-seeds.co.jp/

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

A-SEEDS is a clinical-stage Japanese biotech developing non-viral PiggyBac transposon-based CAR-T cell therapies for cancer patients with limited treatment options, with three clinical-stage products targeting solid tumors (EPHB4) and acute myeloid leukemia (GMR).

Ownership category

akta.pro rank

Product category

Cell Therapy / Regenerative Medicine

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

CAR-T & TCR-T Therapies (HLAAABAC)

akta.pro secondary industries

Gene Therapy CMC/Process Development Platforms (capsid engineering, producer cell lines, plasmids, upstream/downstream) (HLAAACAN), Oncology Gene Therapies (incl. oncolytic vectors & gene-modified approaches) (HLAAACAF)

Keywords

• CAR-T cell therapy
• Cell therapy products
• Cancer immunotherapy
• Regenerative medicine
• Non-viral gene therapy

Headquarters

HQ city

Matsumoto

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. CAR-T Cell Therapy Product Revenue: A-SEEDS is developing proprietary CAR-T cell therapy products targeting solid tumors and hematologic malignancies. Revenue will be generated through the sale of approved CAR-T cell products to hospitals and cancer treatment centers globally. The non-viral PB method enables significantly lower manufacturing costs compared to viral vector-based CAR-T products, providing a cost-competitiveness advantage in pricing and reimbursement negotiations.
2. Technology Licensing and Out-Licensing: A-SEEDS plans to out-license its CAR-T cell technology and manufacturing processes to global pharmaceutical companies. The company explicitly states technology transfer to global pharma as a strategic objective in its NEDO-funded development program. Licensing royalties will provide recurring revenue from pharma partners commercializing A-SEEDS' technology in additional indications or geographies.
3. Government Grants and Non-Dilutive Funding: A-SEEDS receives non-dilutive funding from Japanese government programs including NEDO's Deep Tech Startup Support Program (DTSU) and AMED grants. These funds support R&D activities without equity dilution, supplementing the company's equity financing. The NEDO DTSU matching grant provides up to 2/3 of external capital raised as additional R&D subsidy.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

A-SEEDS researches, develops, and manufactures non-viral gene-modified CAR-T cell therapies for cancer patients with limited treatment options, using its proprietary PiggyBac (PB) transposon technology. Its clinical-stage pipeline includes AP8901/ACS2015 (EPHB4-targeted CAR-T for solid tumors such as Ewing sarcoma) and AS116 (GMR-targeted CAR-T for acute myeloid leukemia), produced through automated manufacturing and supplied to clinical trial sites in Japan and Australia via CDMO partners.

Product overview

A-SEEDS is a clinical-stage biotech company developing a portfolio of non-viral gene-modified CAR-T cell therapies using its proprietary piggyBac transposon (PB) technology platform. The company's clinical-stage pipeline includes AP8901 and ACS2015 (equivalent EPHB4-targeted CAR-T products for solid tumors and Ewing sarcoma) and AS116 (GMR-targeted CAR-T for acute myeloid leukemia). AP8901/ACS2015 can simultaneously recognize EPHB4 and EPHA2 antigens to efficiently attack heterogeneous tumor populations. The company conducts investigator-initiated Phase 1 trials in Japan while preparing for company-sponsored trials in Australia, leveraging CDMO partnerships for global manufacturing scale-up.

Differentiator

Problem solved

Functional benefit

Products and services

• AP8901 (EPHB4-targeted CAR-T) Clinical-stage CAR-T cell therapy developed using A-SEEDS' proprietary non-viral PiggyBac transposon technology. AP8901 is designed to recognize the EPHB4 antigen (with additional EPHA2 co-targeting capability on the ACS2015 equivalent) expressed on solid tumor cells. It is being evaluated in an investigator-initiated Phase 1 clinical trial for patients with Ewing sarcoma and other EPHB4-expressing malignant solid tumors, with the goal of addressing the lack of effective CAR-T options for relapsed/refractory solid tumors.
• ACS2015 (EPHB4-targeted CAR-T) EPHB4-targeted CAR-T cell product equivalent to AP8901 with an optimized manufacturing process enabling cryopreserved apheresis starting material and enhanced clinical suitability. Intended for the Australian Phase 1/2a company-sponsored clinical trial (CARTiEr E312), with trial initiation planned for H1 2026.
• AS116 (GMR-targeted CAR-T) CAR-T cell therapy targeting the GM-CSF receptor (GMR), which is highly expressed in patients with acute myeloid leukemia (AML). Currently in a Phase 1 clinical trial at Shinshu University Hospital evaluating safety, tolerability, persistence, and early signs of clinical activity in AML patients.

Quantifiable outcome

• First-in-human dosing completed for EPHB4-targeted CAR-T (AP8901) in May 2025, demonstrating safety and feasibility in human subjects
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• Cell Therapies Pty LtdcoreTechnology or Integration · 19 November 2025A-SEEDS engaged Cell Therapies, Australia's leading cell and gene therapy CDMO, for technology transfer and GMP manufacture of its lead CAR-T cell candidate (ACS2015) for the CARTiEr E312 clinical trial in Australia. Cell Therapies provides technology transfer, GMP production, and quality release services from its 13-cleanroom GMP facility in Melbourne, Australia, capable of producing up to 2,000 patient doses per year. The partnership includes three commercial-scale manufacturing suites and ten small-scale clean rooms. Cell Therapies holds clinical trial and commercial supply licenses from the Australian TGA as well as GMP manufacturing accreditation from the Japanese Ministry of Health, Labour, and Welfare.
• 帝人株式会社 (Teijin Limited)coreStrategic or Co-development Partner · 28 May 2024A-SEEDS and Teijin signed a memorandum of understanding for co-development of a new CAR-T cell therapy product. Teijin's group company Teijin Reimnet (established 2023 as a dedicated regenerative medicine CDMO) will support manufacturing process development and clinical trial product manufacturing for A-SEEDS' non-viral CAR-T cell therapy products. Teijin brings experience in bringing multiple regenerative medicine products to market and provides manufacturing and regulatory expertise to support A-SEEDS' path to regulatory approval.
• 信州大学 (Shinshu University)coreStrategic or Co-development PartnerA-SEEDS was founded as a spin-out from Shinshu University, with the company's core technology (PiggyBac transposon-based non-viral CAR-T) licensed from research by Professor Yozo Nakazawa at Shinshu University School of Medicine. A-SEEDS collaborates with Shinshu University on investigator-initiated Phase 1 clinical trials for both AP8901 (solid tumors) and AS116 (AML), and the university serves as the foundational research origin of the company's entire technology platform.
• 国立がん研究センター東病院 (National Cancer Center Hospital East)coreStrategic or Co-development PartnerA-SEEDS collaborates with the National Cancer Center Hospital East on investigator-initiated Phase 1 clinical trials for AP8901 (EPHB4-targeted CAR-T). The NCC East is one of Japan's leading cancer research and treatment institutions, providing clinical trial infrastructure, patient access, and regulatory expertise for A-SEEDS' solid tumor CAR-T program.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Novartis: Global pharmaceutical company with Kymriah, the first FDA-approved CAR-T therapy, and a broader cell and gene therapy portfolio. Comparable as the incumbent CAR-T pioneer, defining the regulatory and commercial template that A-SEEDS' solid tumor programs would need to displace.
• Gilead Sciences (Kite Pharma): Global pharmaceutical company with Yescarta and Tecartus CAR-T products through Kite Pharma. Comparable as a broad incumbent dominating CAR-T commercial infrastructure that A-SEEDS would likely partner with or compete against for out-licensing and global commercialization opportunities.
• Bristol Myers Squibb: Global pharmaceutical company with multiple approved CAR-T products (Breyanzi, Abecma) and a deep cell therapy pipeline through its Celgene/Juno acquisition. Comparable as a broad incumbent with overlapping CAR-T products and aggressive expansion into next-generation cell therapy modalities.

Direct peers

• CARsgen Therapeutics: China-based clinical-stage biotech with multiple CAR-T pipeline candidates including zevorcabtagene autoleucel (Claudin18.2 CAR-T approved in China) and several solid tumor programs. Comparable as a CAR-T developer focused on solid tumor indications where A-SEEDS is also competing with EPHB4-targeted programs.
• Allogene Therapeutics: Clinical-stage biotech developing allogeneic (off-the-shelf) CAR-T therapies with multiple clinical-stage programs in hematologic and solid tumor indications. Comparable as a next-generation CAR-T developer pursuing novel manufacturing and gene-editing approaches to improve cell therapy economics and access.
• Tessa Therapeutics: Clinical-stage cell therapy company developing autologous CAR-T therapies for solid tumors and virus-associated malignancies. Comparable as a CAR-T developer focused on hard-to-treat solid tumor indications using genetically modified T cells, with overlapping clinical-stage pipelines.
• Noile-Immune Biotech: Japanese biotech developing CAR-T cell therapies, including a PRIME CAR-T platform using IL-7 and CCL19 expression. Comparable as a Japan-based CAR-T developer with academic origins, similar target indications in solid tumors, and overlapping competitive positioning in the Japanese biotech ecosystem.
• Adaptimmune Therapeutics: Clinical-stage biotech developing engineered T cell receptor (TCR-T) therapies for solid tumors, with Tecelra approved for synovial sarcoma. Comparable as a cell therapy developer targeting solid tumor antigens using gene-modified T cells, with similar Phase 1/2 development timelines and a comparable out-licensing-focused business model.

Emerging players

• Cellectis: Clinical-stage gene editing company developing allogeneic CAR-T therapies using TALEN gene editing technology. Comparable as a CAR-T developer using novel non-conventional gene modification approaches, including work on universal CAR-T cells that addresses similar manufacturing and accessibility challenges A-SEEDS targets with its non-viral platform.
• Iovance Biotherapeutics: Commercial-stage biotech with the first FDA-approved tumor-infiltrating lymphocyte (TIL) therapy (Amtagvi) for advanced melanoma, expanding into solid tumor cell therapy broadly. Comparable as a cell therapy developer addressing solid tumors with novel autologous manufacturing approaches, though using TILs rather than CAR-T.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors10 records

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M&A

Investments

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Frequently asked questions about A-SEEDS