S-Quatre Corporation

What S-Quatre Corporation does

S-Quatre Corporation (株式会社S-Quatre) is a Tokyo-based biotechnology company established in January 2024 as a wholly-owned subsidiary of Kidswell Bio Corporation via an absorption-type company split. It is dedicated to cell therapy and regenerative medicine, anchored by the SHED (Stem cells from Human Exfoliated Deciduous teeth) platform, and also holds an exclusive worldwide license to the anti-RAMP2 antibody from National University Corporation Tokushima University across cancer, ophthalmology, and inflammatory indications. The cell therapy pipeline (SQ-SHED series) targets periodontal tissue regeneration, bone/cartilage regeneration, and cerebral palsy, the last being positioned as a global-first SHED-derived cell therapy with FDA Pre-IND alignment.

The company's revenue base comes from its biosimilar portfolio — GBS-007 ranibizumab (launched 2021), GBS-010 pegfilgrastim (launched 2023), and a darbepoetin alfa biosimilar with additional indications approved in May 2024 — which are developed and commercialized through partner-led models: Senju Pharmaceutical for GBS-007, Mochida Pharmaceutical for co-development, and Alfresa Holdings for distribution. Cell therapy products remain pre-commercial.

The business model is asset-light and partnership-driven: cell therapy R&D is funded via government mechanisms including AMED and supported through collaborations with Nagoya University and Tokushima University, while biosimilar manufacturing is being internalized through a joint venture with Mycenax Biotech (October 2025) and overseas operations are being established via a US subsidiary formed with Treehill Partners (February 2026). With 11–50 employees, S-Quatre operates as a focused development vehicle within the Kidswell Bio group rather than a vertically integrated pharma.

Name

S-Quatre Corporation

Legal name

株式会社S-Quatre

Website

https://kidswellbio.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

S-Quatre Corporation is a Tokyo-based regenerative medicine subsidiary of Kidswell Bio developing SHED (stem cells from human exfoliated deciduous teeth) cell therapies for periodontal, bone/cartilage, and cerebral palsy indications, alongside a partnered biosimilar portfolio including GBS-007 ranibizumab and GBS-010 pegfilgrastim.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254)

SIC

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

akta.pro primary industry

Cell Therapy Developers (Allogeneic/Off-the-shelf) (HLAAABAB)

akta.pro secondary industries

Cell Processing & Ancillary Materials (media, cytokines, beads, vectors, disposables) (HLAAABAH), Biosimilar Development & Clinical/Regulatory Services (comparability, trials, pharmacovigilance) (HLAAAHAJ), Recombinant Protein Biosimilars (hormones, enzymes, cytokines) (HLAAAHAB), Anti-VEGF Biosimilars (HLAIAFAG)

Keywords

• Regenerative medicine
• Cell therapy
• Biosimilar pharmaceuticals
• Stem cell therapy
• Allogeneic cell medicine

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Biosimilar (Bio-相似品) Sales: Sale of biosimilar pharmaceutical products including ranibizumab biosimilar (GBS-007), pegfilgrastim biosimilar (GBS-010), darbepoetin alfa biosimilar, and cancer treatment biosimilars developed in partnership with Senju Pharmaceutical and Mochida Pharmaceutical.
2. Regenerative Medicine (Cell Therapy): Development and commercialization of SHED-based cell therapy products. Revenue model based on product sales and licensing fees upon regulatory approval.
3. Co-development and Licensing: Co-development arrangements with pharmaceutical partners including upfront payments, milestone payments, and royalties. Partners include Senju Pharmaceutical (ophthalmology), Mochida Pharmaceutical (oncology), and KAIOM Biosciences / Mycenax Biotech (biosimilar API manufacturing JV).

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

S-Quatre Corporation develops, manufactures, and commercializes biosimilar pharmaceutical products and SHED-based allogeneic stem cell therapies for regenerative medicine. Its product portfolio includes approved biosimilars (ranibizumab biosimilar GBS-007, pegfilgrastim biosimilar GBS-010, darbepoetin alfa biosimilar, and a cancer treatment biosimilar) and a clinical-stage SHED (Stem cells from Human Exfoliated Deciduous teeth) pipeline targeting cerebral palsy, spinal cord injury, intractable bone fractures, and brain tumors. The company operates through co-development and co-commercialization partnerships with established Japanese pharmaceutical companies.

Product overview

S-Quatre Corporation (doing business as Kidswell Bio Corporation) operates as a biosimilar development and manufacturing company combined with a cell therapy/regenerative medicine business. The company develops and manufactures biosimilar pharmaceutical products including anti-VEGF antibody biosimilars for ophthalmology (GBS-007/Ranibizumab biosimilar), PEG-G-CSF biosimilars for neutropenia (GBS-010), darbepoetin alfa biosimilars for renal anemia, and cancer treatment biosimilars. Additionally, the company operates a regenerative medicine division focused on SHED (Stem Cells from Human Exfoliated Deciduous teeth) for treating conditions such as cerebral palsy, spinal cord injury, and brain tumors. The cell therapy business was spun off into a separate subsidiary company (S-Quatre Corporation) in January 2024.

Differentiator

Problem solved

Functional benefit

Brands

• SQ-SHED: S-Quatre's stem cell product derived from human exfoliated deciduous teeth (SHED), being developed for cerebral palsy and other neurological conditions, with FDA Pre-IND meeting confirmation for cerebral palsy trial plan.

Products and services

• Ranibizumab Biosimilar (GBS-007) Anti-VEGF antibody biosimilar for ophthalmology indications including age-related macular degeneration (AMD), diabetic macular edema, and retinal vein occlusion. Co-developed with Senju Pharmaceutical Co., Ltd. for the Japanese market.
• Pegfilgrastim Biosimilar (GBS-010) PEGylated granulocyte colony-stimulating factor (PEG-G-CSF) biosimilar for treating chemotherapy-induced neutropenia. Approved and launched in Japan.
• Darbepoetin alfa Biosimilar Erythropoiesis-stimulating agent biosimilar for treating renal anemia. Co-developed with Sanko Chemical Laboratory Co., Ltd. for the Japanese market.
• Cancer Treatment Biosimilar Cancer treatment biosimilar developed in partnership with Mochida Pharmaceutical Co., Ltd. (持田製薬株式会社) for the Japanese market.
• SHED / SQ-SHED (Stem Cells from Human Exfoliated Deciduous teeth) Allogeneic stem cell therapy derived from deciduous tooth pulp for regenerative medicine applications including cerebral palsy, spinal cord injury, intractable bone fractures, malignant lymphoma, vasculitis, pulmonary hypertension, and brain tumors (glioma). Established GMP-grade Master Cell Bank. SHED cells demonstrate superior chemotaxis toward glioma tumor cells compared to other tissue-derived stem cells. SQ-SHED is the proprietary product designation advancing toward FDA trials.

Quantifiable outcome

• SHED demonstrated superior chemotaxis toward glioma tumor cells compared to other tissue-derived stem cells in cell experiments
• +2 more outcomes

Named customers2 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

Feature4 records

Partnerships

20 partnerships are on record, tiered core, minor and major.

• Treehill PartnerscoreStrategic or Co-development Partner · 1 October 2025UK-based Treehill Partners co-invested with S-Quatre (through parent company Kidswell Bio) to establish a US-based subsidiary for accelerating overseas clinical development of SHED products. Basic agreement reached in February 2026. This partnership is critical for international expansion of the cell therapy business.
• Alfresa Holdings CorporationcoreStrategic or Co-development Partner · 1 October 2025Alfresa Holdings, Kidswell Bio, KAIOM Biosciences, and Mycenax Biotech established a joint venture in October 2025 for biosimilar API and formulation manufacturing in Japan. The JV strengthens domestic biosimilar manufacturing capacity. S-Quatre participates through parent company Kidswell Bio.
• KAIOM Biosciences Corporation (シオム・バイオサイエンス)coreStrategic or Co-development Partner · 1 October 2025Co-JV partner with Alfresa Holdings and Mycenax Biotech for biosimilar manufacturing. KAIOM contributes to the joint venture for API and formulation production targeting commercial launch after 2030.
• Mycenax Biotech Inc.coreStrategic or Co-development Partner · 1 October 2025Taiwan-based biotech company co-JV partner with Alfresa Holdings and KAIOM Biosciences for biosimilar API and formulation manufacturing in Japan.
• Tokai National University Corporation (Nagoya University)coreStrategic or Co-development Partner · 1 January 2024Nagoya University conducts clinical research on cerebral palsy treatment using SHED. The university received AMED (Japan Agency for Medical Research and Development) approval and enrolled first patient in the cerebral palsy clinical trial. Joint patent application filed for cerebral palsy treatment.
• S-Quatre Corporation (storage and transport contractor)coreTechnology or Integration · 1 May 2023S-Quatre established a basic service contract for high-quality, stable SHED storage and transport services, strengthening its functional capabilities for cell therapy manufacturing.
• AstraZeneca K.K. (アストラゼネカ株式会社)minorGTM or Marketing Partner · 1 December 2022S-Quatre participates in i2.JP, an open innovation initiative led by AstraZeneca K.K. focused on supporting Japanese healthcare innovation.
• Hamamatsu University of Medicine (浜松医科大学)coreStrategic or Co-development Partner · 1 November 2022Collaborative research on next-generation SHED applications for brain tumors (glioma). Published third research paper in 2022 demonstrating SHED migration toward glioma cells. SHED showed superior chemotaxis compared to other stem cell sources.
• Showa Denko Materials Co., Ltd. (昭和電工マテリアルズ株式会社)majorTechnology or Integration · 1 September 2022Basic service agreement for process development and investigational product manufacturing of regenerative medicine products.昭和電工マテリアルズ supports GMP manufacturing process development for SHED products.
• Kaim Co., Ltd. (株式会社カイオム・バイオサイエンス)majorStrategic or Co-development Partner · 1 May 2022Joint research agreement for antibody pharmaceutical development. Contributed to the biosimilar API/ formulation JV formed in October 2025.
• Metセラ株式会社 (MetSera Inc.)majorStrategic or Co-development Partner · 1 January 2022Business alliance for regenerative medicine. Stock transfer of a consolidated subsidiary completed in April 2022. MetSera focused on diabetes kidney disease treatment using stem cell technology.
• Biomimetics Sympases Inc. (株式会社バイオミメティクスシンパシーズ)majorTechnology or Integration · 1 December 2021Commissioned development contract for 'designer cells' - enhanced SHED-based cell medicine using genetic engineering to improve therapeutic efficacy for various conditions.
• Showa University Dental Hospital (昭和大学歯科病院)coreStrategic or Co-development Partner · 1 June 2021Showa University Dental Hospital provides deciduous (baby) teeth as raw material source for SHED manufacturing. Partnership established in June 2021 to build a stable supply chain for stem cell production.
• Tokyo Metropolitan Institute of Medical Science (東京都医学総合研究所)majorStrategic or Co-development Partner · 1 January 2020Four-party joint research agreement with Nagoya University and Tokyo Medical and Dental University for cerebral palsy treatment using dental pulp stem cells.
• Gifu Pharmaceutical University (岐阜薬科大学)majorStrategic or Co-development Partner · 1 September 2019Joint research on stem cell therapies for eye-related diseases. Presented at the 43rd Japan Ocular Pharmacology Society meeting on optic nerve protection by SHED.
• Showa University (昭和大学)majorStrategic or Co-development Partner · 1 September 2019Joint research on bone-related diseases using dental pulp stem cells. Part of broader academic network supporting SHED applications across multiple therapeutic areas.
• Juntendo Medical University (学校法人順天堂)majorStrategic or Co-development Partner · 1 September 2017Joint research and development agreement for immune cell processing technology. Also collaborated on JUNTEN BIO subsidiary for commercializing research findings.
• Japan Regenerative Medicine Co., Ltd. (株式会社日本再生医療)minorStrategic or Co-development Partner · 1 October 2016Capital and business alliance for regenerative medicine business development. Strategic partnership to support regenerative medicine commercialization.
• Senju Pharmaceutical Co., Ltd. (千寿製薬株式会社)coreStrategic or Co-development Partner · 1 August 2015Long-standing co-development partner for ophthalmology biosimilars. GBS-007 (ranibizumab biosimilar) received manufacturing/marketing approval in Japan with additional indications approved.
• Mochida Pharmaceutical Co., Ltd. (持田製薬株式会社)coreStrategic or Co-development Partner · 1 August 2015Co-development partner for cancer treatment biosimilars. Received manufacturing/marketing approval for cancer treatment biosimilar product.

Scale indicators3 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Heartseed Inc. Japan-based clinical-stage company developing iPS-derived cardiomyocyte cell therapy (HS-001) for heart failure. Directly comparable as a Japanese allogeneic cell therapy developer with partnered academic clinical programs and a similar regulatory pathway targeting Japan-first approval.
• JCR Pharmaceuticals Co., Ltd. Japanese biopharma with TEMCELL HS Inj., the first allogeneic cell therapy product approved in Japan for acute GvHD. Comparable in being a Japan-based allogeneic cell therapy developer with approved products, manufacturing infrastructure, and pipeline across multiple indications.
• SanBio Co., Ltd. Japanese regenerative medicine company developing SB623, an allogeneic cell therapy for stroke and other CNS indications. Closely comparable as a Japanese allogeneic stem cell therapy developer focused on neurological/rare disease indications and seeking US market entry.
• Nichi-Iko Pharmaceutical Co., Ltd. Japan's largest generic drug manufacturer with an active biosimilar pipeline (including G-CSF and antibody biosimilars). Comparable to the Kidswell Bio/S-Quatre biosimilar business as a domestic Japanese player developing and commercializing biosimilars through partnership networks.
• Sawai Group Holdings Co., Ltd. Japanese generics leader with an expanding biosimilar portfolio across oncology, ophthalmology, and hematology indications. Comparable to S-Quatre/Kidswell Bio as a Japan-based biosimilar developer with approved products and ongoing pipeline investment.
• Mesoblast Limited: Australia-based commercial-stage allogeneic cell therapy company with products like Remestemcel-L. Directly comparable as an allogeneic, off-the-shelf cell therapy developer with a multi-indication pipeline and active pursuit of regulatory approvals in the US and other major markets.
• Fate Therapeutics, Inc. US-based clinical-stage company developing off-the-shelf allogeneic cell therapies using engineered iPSC-derived NK and T cells. Comparable to SHED as a next-generation allogeneic platform with proprietary cell engineering (analogous to S-Quatre's designer cells) targeting oncology and immunology indications.

Broad incumbents

• Mochida Pharmaceutical Co., Ltd. Established Japanese pharmaceutical company that is both a co-development partner and a broader competitor in biosimilars and specialty therapeutics. Comparable as a long-standing Japanese pharma with biosimilar development capabilities and oncology franchise overlap.
• Terumo Corporation: Major Japanese medical device and life sciences company with regenerative medicine/cell processing capabilities and CDMO services. Comparable as a Japan-headquartered player supporting the cell therapy ecosystem through devices, processing technology, and manufacturing partnerships.
• Astellas Pharma Inc. Major Japanese pharmaceutical company with a regenerative medicine and cell/gene therapy division (including Universal Cells and Xyphos acquisitions). Comparable as a large Japanese pharma investing in next-generation cell therapy platforms and international commercialization partnerships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gene-techno-science-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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M&A

Investments2 records

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Frequently asked questions about S-Quatre Corporation