KAICO

What KAICO does

KAICO is a Kyushu University-originated bio-startup founded in April 2018 and headquartered in Fukuoka, Japan, that operates a proprietary silkworm-baculovirus expression platform for producing recombinant proteins. The company's core technology uses recombinant baculovirus injected into silkworm pupae, which then function as mini-bioreactors to express target proteins that are subsequently purified. This system is particularly differentiated for difficult-to-express proteins such as membrane proteins, virus-like particles (VLPs), and large multimeric complexes that frequently fail in conventional E. coli, yeast, or mammalian cell systems; KAICO has completed over 130 custom expression projects with a 100% expression success rate. Exclusive access to Kyushu University's proprietary baculovirus genome and silkworm strains, combined with granted oral-vaccine patents in Japan (JP7678480, JP7502739), forms the foundation of the company's technology moat.

KAICO operates four revenue streams: (1) custom protein expression services (CDMO) sold directly to pharmaceutical, biotech, and academic customers with ~6-month project lead times; (2) KAICO Powder for Pig, a functional feed additive for swine that delivers antigens orally via feed and reduces vaccination labor by 99% compared to injection methods, registered in Vietnam in September 2024 with field trials underway in Thailand and a distributorship signed in Taiwan; (3) research reagents including norovirus VLPs and PCV2 antigens; and (4) Cordyceps militaris supplements cultivated on living silkworms, registered as an INCI cosmetic ingredient. The company runs a GMP-compliant manufacturing facility in Fukuoka and holds ISO 9001 certification for feed additive production.

The business model combines B2B fee-for-service revenue (CDMO) with product sales through regional distribution partners in Asia (DABACO in Vietnam, AMCOVET in Thailand, Reber Genetics in Taiwan) and direct sales for supplements and reagents. KAICO has raised approximately 1.39 billion yen (~$9.3M USD) cumulatively across seed, Series A (multiple tranches), and a Series B closed in April 2025, with strategic investors including Itochu Techno Ventures, Tokyo Century, and FFG Venture Business Partners. The company is preparing for Phase 1 human clinical trials of norovirus vaccine candidates in summer 2026 and has signed a joint R&D agreement with Nippon Soda for veterinary pharmaceutical development.

Name

KAICO

Legal name

KAICO株式会社

Website

https://www.kaicoltd.jp

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

KAICO is a Kyushu University bio-startup using a proprietary silkworm-baculovirus expression system to produce recombinant proteins. It serves pharmaceutical and biotech customers with custom CDMO services, sells a swine feed additive (KAICO Powder) via Asian distributors, and develops human and animal vaccines plus Cordyceps supplements.

Ownership category

akta.pro rank

Product category

Biopharmaceutical CDMO Services

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Drug Substance–Drug Product Integrated CDMO (HLAGABAG)

akta.pro secondary industries

Vaccine Manufacturing & Contract Services (Veterinary Vaccine CDMO) (HLAMAKAI), Gene Therapy (Viral Vector/Plasmid) CDMO (HLAGABAE)

Keywords

• Recombinant protein expression
• Silkworm baculovirus system
• Biopharmaceutical CDMO services
• Oral animal vaccines
• Research protein reagents

Headquarters

HQ city

Nishiku

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. KAICO Powder (Feed Additive) Sales: KAICO manufactures and sells KAICO Powder, a functional feed additive for pigs that supports immune health. The product is sold through distribution partners in Vietnam (registered September 2024), Thailand (field trials started March 2026), and Taiwan (partnership with Reber Genetics). Revenue is generated through product sales to livestock farms and distributors.
2. Custom Protein Expression Services (CDMO): KAICO provides fee-for-service custom protein expression using the silkworm-baculovirus system. Customers submit target protein gene sequences; KAICO performs expression construct design, expression trials, and purification. Delivery is typically 5 silkworm pupae worth of protein, with options for crude extract, purified, or custom-formulated products. Turnaround is approximately 6 months from gene receipt.
3. Research Reagent Sales: KAICO sells research-use recombinant proteins including norovirus VLPs (multiple genotypes), PCV2 antigens, and growth factors. Products are available as purified proteins or silkworm pupae powder. Reagents are sold to pharmaceutical companies, research institutions, and biotechnology companies for vaccine research, diagnostics development, and basic research.
4. Cordyceps militaris (冬虫夏草) Supplement Ingredients: KAICO cultivates Cordyceps militaris (samstagake mushroom) using living silkworms and sells the dried product and extracts as supplement and cosmetic ingredients. The product is registered under INCI as 'Cordyceps/Silkworm Extract' and sold as raw material to supplement and cosmetics manufacturers.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

KAICO operates a proprietary silkworm-baculovirus expression platform that uses living silkworm pupae as bioreactors to produce recombinant proteins. The company offers custom protein expression services (CDMO) for pharmaceutical and biotech customers, sells research-use protein reagents, manufactures and markets KAICO Powder for Pig (an oral feed-additive vaccine for Porcine Circovirus Type 2), and sells Cordyceps militaris supplements and cosmetic ingredients grown on silkworms.

Product overview

KAICO operates a silkworm-baculovirus expression platform as its core technology, offering both B2B services and self-developed products. The B2B side provides custom protein expression services (CDMO) and research reagents. Self-developed products span three segments: (1) Animal Health - KAICO Powder for Pig (functional feed additive) and PCV2 oral vaccine for swine, both using silkworm-expressed antigens administered via feed; (2) Human Vaccines - norovirus vaccine candidates in development with both oral and injectable formulations; (3) Supplements - Cordyceps militaris products grown on silkworms for cosmetics and dietary use. All products leverage the company's proprietary silkworm expression system where recombinant proteins are produced within living silkworm pupae acting as bioreactors.

Differentiator

Problem solved

Functional benefit

Brands

• KAICO Powder for Pig: A functional feed additive for pigs developed using silkworm-expressed proteins. Registered as a feed additive in Vietnam since September 2024, it supports immune function in pigs and can be mixed with regular feed, stored at room temperature, and administered without injections, reducing labor by 99% compared to conventional vaccination methods.
• KAICO Powder

Products and services

• Protein Expression Service (CDMO) Custom recombinant protein expression service using silkworm pupae as bioreactors. Customers submit target gene sequences; KAICO performs expression construct design, expression trials, and purification, delivering crude extract, purified, or custom-formulated proteins. Service targets pharmaceutical and biotechnology companies developing vaccines, therapeutics, and diagnostics.
• Research Reagents Research-use recombinant proteins including norovirus VLPs (multiple genotypes GI.2, GI.3, GI.4, GI.6, GII.2, GII.3, GII.4, GII.6, GII.17) and PCV2 antigens. Available as purified proteins or silkworm pupae powder. Sold to pharmaceutical companies, research institutions, and biotech firms for vaccine research, diagnostics development, and basic research.
• KAICO Powder for Pig (PCV2 Oral Vaccine) Functional feed additive and oral vaccine for pigs targeting Porcine Circovirus Type 2 (PCV2) using silkworm-expressed antigens. Mixed directly into regular feed, eliminating the need for individual injections; achieves equivalent growth performance to injectable vaccines while reducing vaccination labor by 99%. Room-temperature storage and distribution eliminate cold chain requirements.
• Cordyceps militaris Supplements and Cosmetic Ingredients Cordyceps militaris cultivated on living silkworms and sold as dried product and extracts for use as supplement and cosmetic raw materials. Registered under INCI nomenclature as 'Cordyceps/Silkworm Extract'. Sold to nutraceutical supplement manufacturers and cosmetics companies seeking functional ingredients rich in cordycepin and beta-glucan.

Quantifiable outcome

• 99% reduction in vaccination labor time compared to individual injection methods
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core, strategic and minor.

• Reber GeneticscoreChannel Partner/ Reseller/ Distributor · 17 June 2026Partnership for sales and distribution of KAICO Powder for pig in Taiwan market. Reber Genetics is a livestock veterinary pharmaceutical company based in Taipei, Taiwan. Signed distributorship agreement in June 2026 following MOU in March 2026. Partner handles product registration, sales, and distribution to Taiwanese pig farmers.
• AMCOVETcoreStrategic or Co-development Partner · 26 March 2026Partnership with AMCOVET, a major livestock enterprise in Bangkok, Thailand, for field verification trials of KAICO Powder. Trials started March 2026 at AMCOVET's pig farm with approximately 300 pigs. Results will inform Thailand market entry planned for end of 2026.
• Baiya PhytopharmstrategicTechnology or Integration · 8 October 2025MOU for protein expression services collaboration. KAICO's silkworm-baculovirus system and Baiya's plant expression system are complementary. Partners will cross-promote reagent catalogs and explore joint projects for customers requiring multiple expression platforms.
• Nippon Soda (日本曹達)strategicStrategic or Co-development Partner · 6 August 2025Joint R&D agreement for veterinary pharmaceuticals. KAICO will apply its silkworm-baculovirus high-difficulty protein expression technology to develop proteins for specific animal disease targets. Aims for future product commercialization.
• Life Up (合同会社ライフアップ)minorStrategic or Co-development Partner · 15 May 2025Partnership for sericulture at abandoned school in Asagiri Town, Kumamoto Prefecture. Life Up operates sericulture at former Sue Elementary School starting June 2025. Aims to create employment for people with disabilities while producing silkworms for KAICO.
• Shinryo Corporation (新菱冷熱工業)strategicStrategic or Co-development Partner · 3 March 2025MOU for silkworm utilization business. Shinryo developed MayuFacture® large-scale silkworm rearing system. Partnership aims to supply KAICO with silkworm pupae for year-round KAICO Powder production, enabling manufacturing outside of mulberry leaf growing season.
• DABACO GroupcoreChannel Partner/ Reseller/ Distributor · 30 January 2025DABACO Group (Vietnam's largest northern-scale livestock enterprise) conducting large-scale field trials of KAICO Powder at its pig farms. Trial involves approximately 2,000 pigs comparing KAICO Powder feed additive, injectable vaccination, and non-supplemented groups.
• Suzunari CorporationcoreStrategic or Co-development Partner · 19 April 2024Partnership for sustainable sericulture and regional revitalization. Suzunari develops solar-sharing silkworm farming facilities using shipping containers and other modular structures. KAICO purchases all silkworm cocoons produced as raw material for vaccine production.
• Komagane City, Nagano PrefecturecoreStrategic or Co-development Partner · 26 March 2024Partnership for sericulture industry revitalization and regional economic activation. Sericulture conducted at Komagane Silk Museum using former teacher housing. KAICO purchases all silkworm cocoons produced. Mulberry tree planting initiative to expand feed production.
• Kyushu UniversitycoreTechnology or Integration · 1 October 2022Technology origin and ongoing research partnership. KAICO licenses Kyushu University's proprietary baculovirus genome and silkworm strains. University researchers (notably Prof. Kusakabe) co-develop oral vaccine technologies and norovirus vaccine candidates. J-ST supports collaborative research.
• Protec (株式会社プロテックス)minorStrategic or Co-development Partner · 2 October 2020Joint development of COVID-19 antibody detection kit. Protec used KAICO's silkworm-expressed spike protein to develop detection reagent. Protec commercialized antibody testing service for companies and organizations.
• Euglena Co. (株式会社ユーグレナ)minorStrategic or Co-development Partner · 1 October 2020Joint research for COVID-19 vaccine development (2020). Euglena conducts vaccine practicalization research using KAICO's silkworm-expressed spike protein antigens. Partnership at Tohoku University Hospital Immunological Research Center.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• GenScript (ProBio): GenScript's ProBio division offers contract protein expression services and CDMO capabilities across multiple platforms including mammalian, microbial, and insect cell systems. Directly comparable to KAICO as a biologics CDMO serving pharma and biotech customers with recombinant protein needs, including difficult-to-express targets.
• Oxford Expression Technologies: Specialist in baculovirus expression vector systems (BEVS) for recombinant protein production and vaccine development. Comparable to KAICO as a focused baculovirus/insect cell expression technology provider with CDMO services and proprietary expression tools.
• Bioneer Corporation: Korean molecular biology and CDMO company offering protein expression services, gene synthesis, and recombinant protein production. Comparable to KAICO as an Asian-region biotech CDMO serving research and commercial customers with custom recombinant protein needs.
• Cyagen Biosciences: Provider of custom protein expression and viral vector services for research and preclinical applications. Comparable to KAICO in offering fee-for-service recombinant protein production with multiple expression system options for biotech and pharma customers.
• AB Vector: Provider of baculovirus expression technology and custom protein production services using insect cell systems. Closely comparable to KAICO's silkworm-baculovirus CDMO offering, though AB Vector uses lepidopteran cell culture rather than whole-organism silkworm bioreactors.

Broad incumbents

• Zoetis: World's largest animal health company with a comprehensive portfolio of veterinary vaccines, diagnostics, and feed additives. Comparable to KAICO as a broad incumbent in animal health pharmaceuticals, with which KAICO Powder and PCV2 oral vaccine will compete in the swine segment.
• Boehringer Ingelheim Animal Health: Major global animal health company with strong portfolio in swine vaccines (including PCV2 injectable vaccines). Relevant peer because KAICO's PCV2 oral vaccine directly targets the injectable vaccine market that Boehringer currently dominates.
• Phibro Animal Health: Diversified animal health and nutrition company offering vaccines, medicated feed additives, and nutritional specialty products. Comparable to KAICO's animal health business in addressing livestock producers' disease prevention and nutrition needs through feed-based delivery.
• Elanco Animal Health: Global animal health company with significant presence in livestock vaccines and feed additives. Relevant peer given KAICO's positioning in the swine oral vaccine and functional feed additive categories where Elanco operates.
• Ceva Santé Animale: Global veterinary pharmaceutical company specializing in animal vaccines and pharmaceuticals, with notable presence in swine and poultry markets in Asia. Comparable as an incumbent competing in KAICO's target swine health categories.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCkj-E08Il0TbbijsbZknEnw
• LinkedInjp.linkedin.com/company/kaicoltd
• Xx.com/KAICO92678804

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KAICO