What Medinet Co does

Medinet Co, Ltd. (株式会社メディネット, TSE Growth: 2370) is a Japanese regenerative medicine and cell therapy CDMO founded in 1995 and headquartered in Ota-ku, Tokyo. The company operates the Shinagawa Cell Processing Facility (Shinagawa CPF), a GMP/GCTP-compliant manufacturing site near Haneda Airport that holds both a Specified Cell Product Manufacturing License (FA3150001, since May 2015) and a Regenerative Medical Product Manufacturing License (13FZ110003, since January 2020). Its core business is contract manufacturing and development of immune cell therapies — including αβT, NK, γδT, NKT, and dendritic cell-based products — for medical institutions, university hospitals, and pharmaceutical companies across Japan.

Medinet generates revenue through four streams: (1) Specified Cell Product Manufacturing (CMO) — fee-per-treatment contract processing of immune cells for medical institutions under the Act on the Safety of Regenerative Medicine; (2) Regenerative Medicine Product CDMO — process development through commercial manufacturing under the PMD Act for pharma and biotech clients (including Janssen Pharma for α-GalCer/DC); (3) Value Chain Solutions — engineer dispatching, technical training, facility design, and documentation consulting; and (4) in-house regenerative medicine product development, most notably ATL-DC-101, a dendritic cell vaccine for adult T-cell leukemia co-developed with the National Hospital Organization. Pricing for cell processing services is transaction-based (approximately ¥2 million per patient treatment course at the patient-pay level for immune cell therapy, which is not covered by national health insurance). The company also operates the Self Cancer Tissue Depository (自己がん組織バンク), a service to store patient tumor tissue for future dendritic cell vaccine production (new contract acceptance ending September 2026).

Medinet is publicly listed on the Tokyo Stock Exchange Growth Market (formerly Mothers), with FY2025 revenue of ¥810.3 million, R&D spend of ¥452.5 million (55.8% of revenue), and a customer base anchored by Medical Corporation Koshikai, which accounts for 55.1% of total sales. The company has executed multiple new stock acquisition rights rounds (17th–19th, 2020–2023) and has registered capital of ¥5,102 million as of September 2025. The firm carries cumulative losses and has disclosed going concern risk, though management assesses continuity as not in doubt. Co-founder Yoshiji Kimura founded the company in 1995; current Representative Director and President Kanenao Kubushiro was appointed in 2021.

Name

Medinet Co

Legal name

株式会社メディネット

Website

https://medinet-inc.co.jp

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

Medinet Co (TSE Growth: 2370) is a Japanese regenerative medicine CDMO operating the GMP/GCTP-compliant Shinagawa Cell Processing Facility to manufacture immune cell therapies (αβT, NK, γδT, NKT, dendritic cells) for medical institutions and pharmaceutical companies, with in-house development of the ATL-DC-101 cancer vaccine.

Ownership category

akta.pro rank

Product category

Cell Therapy Manufacturing Services (Regenerative Medicine CDMO)

NAICS

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

SIC

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

akta.pro primary industry

Cell Therapy CDMO (Autologous/Allogeneic Manufacturing) (HLAGAGAA)

akta.pro secondary industries

Cell Therapy CDMO (HLAGABAD), Clinical Trial Material (CTM) Manufacturing & Supply CDMO (HLAGABAK)

Keywords

• Cell processing services
• Regenerative medicine CDMO
• Immune cell therapy
• Contract cell manufacturing
• Cell therapy development

Headquarters

HQ city

Kahoku

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Cell processing services (特定細胞加工物製造業): Contract manufacturing of specified cell products for medical institutions under the Regenerative Medicine Safety Act. Revenue is based on cell processing type and number of treatments using a variable fee structure. Cells processed include αβT cells, NK cells, NKT cells, γδT cells, dendritic cells, and others.
2. CDMO services (再生医療等製品製造業): Contract development and manufacturing of regenerative medicine products and investigational products for pharmaceutical companies and biotech firms, under the Pharmaceutical and Medical Device Act. Covers process development through commercial production.
3. Value chain solutions (バリューチェーン事業): Engineer dispatching, technical training, facility design and management consulting, and documentation support for cell processing operations.
4. Regenerative medicine product development: In-house development of regenerative medicine products (regenerative medical products) targeting manufacturing and marketing approval, including ATL-DC-101 (dendritic cell vaccine for adult T-cell leukemia).
5. Self Cancer Tissue Depository (自己がん組織バンク): Free tissue storage service for patients; tissue used for dendritic cell vaccine production. Tissue storage is free; transport costs borne by contracting party.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Medinet Co is a publicly-traded Japanese regenerative medicine and cell therapy CDMO providing contract cell processing services to medical institutions and pharmaceutical companies under Japan's Act on the Safety of Regenerative Medicine and the Pharmaceutical and Medical Device Act. Its offerings span Specific Cell Products Manufacturing (CMO), CDMO Business (process development through commercial production of regenerative medicine products), Value Chain Business (technical personnel dispatch, facility design, consulting, documentation), and the Self Cancer Tissue Bank service. Cell processing covers αβT, NK, γδT, NKT, and dendritic cell therapies, supported by the GMP/GCTP-compliant Shinagawa CPF manufacturing facility.

Product overview

Medinet Co is a Contract Development and Manufacturing Organization (CDMO) providing a ONE-STOP total solution for regenerative medicine and cell therapy. The company operates through four main business segments: (1) Specific Cell Products Manufacturing - contract manufacturing of specified cell products for medical institutions; (2) CDMO Business - development and manufacturing services for regenerative medical products and investigational products; (3) Value Chain Business - comprehensive solutions including personnel dispatch, facility design, and consulting; and (4) Self Cancer Tissue Bank - cancer tissue storage service. The company offers multiple immune cell therapy technologies including αβT cells, NK cells, γδT cells, dendritic cells, and NKT cell-activated dendritic cells. All operations are supported by the Shinagawa Cell Processing Facility (品川CPF), a GMP/GCTP-compliant manufacturing facility.

Differentiator

Problem solved

Functional benefit

Brands

• 自己がん組織バンク (Self Cancer Cell Depository): Japan's first treatment-focused cancer tissue storage service for future cancer treatment using the patient's own cancer tissue for dendritic cell vaccines.

Products and services

• Specific Cell Products Manufacturing (特定細胞加工物製造業) Contract manufacturing of specified cell products (αβT, NK, γδT, NKT, and dendritic cell therapies) for medical institutions under Japan's Act on the Safety of Regenerative Medicine. Includes cell isolation, culture, expansion to clinical-scale cell numbers, and delivery to medical institutions.
• CDMO Business (再生医療等製品/治験製品のCDMO事業) Contract development and manufacturing services for regenerative medical products and investigational products, from process development through commercial manufacturing under Japan's Pharmaceutical and Medical Device Act (PMD Act). Targeted at pharmaceutical companies and biotech firms developing regenerative medicine products.
• Value Chain Business (バリューチェーン事業) Total solution services for the regenerative medicine cell processing value chain, including technical personnel dispatching, technical training, facility design and management consulting, and documentation support for cell processing operations.
• Self Cancer Tissue Bank (自己がん組織バンク) Service to collect, process, and store a patient's own cancer tissue excised during surgery for future use in dendritic cell vaccine manufacturing. Tissue storage is free; transport costs are borne by the contracting party.

Quantifiable outcome

• Over 200,000 cell processing instances delivered to medical institutions with zero major incidents
• +2 more outcomes

Named customers11 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• MaxCyte Inc. (US)coreTechnology or Integration · 1 February 2023Joint development collaboration on electroporation technology for dendritic cell vaccine manufacturing. MaxCyte's electroporation platform (Cell Loading System) is used in Medinet's DC vaccine processing.
• Kyoto Prefectural University of Medicine (京都府公立大学法人京都府立医科大学)coreStrategic or Co-development Partner · 1 November 2019Joint research agreement and joint patent application for cell therapy technologies. Combines academic research capabilities with Medinet's development and manufacturing expertise.
• Kyushu University (国立大学法人九州大学)coreStrategic or Co-development Partner · 1 November 2019Joint research agreement for regenerative medicine and cell therapy. Long-standing relationship including joint research department 'Advanced Cell Therapy Research Department' established at Kyushu University Center for Advanced Medical Innovation in 2012.
• Medigen Biotechnology Corp. (Taiwan)coreTechnology or Integration · 1 October 2019Licensing agreement for γδT cell culture processing technology to Taiwanese listed biopharmaceutical company. Enables international expansion of Medinet's immune cell therapy technologies.
• National Cancer Center (国立研究開発法人国立がん研究センター)coreStrategic or Co-development Partner · 1 October 2019Joint research agreement for regenerative medicine and cell therapy development. Combines National Cancer Center's research capabilities with Medinet's cell processing expertise.
• Kanazawa University (国立大学法人金沢大学)minorStrategic or Co-development Partner · 1 June 2019Cell processing facility management support services for university hospital's cell therapy programs.
• JUNTEN BIO Co., Ltd. (株式会社JUNTEN BIO)minorStrategic or Co-development Partner · 1 December 2018Contract development agreement for manufacturing technology of regenerative medicine products.
• National Hospital OrganizationcoreStrategic or Co-development Partner · 1 March 2018Joint development agreement with National Hospital Organization aiming to obtain manufacturing/marketing approval for ATL-DC-101, a dendritic cell vaccine for adult T-cell leukemia, as a regenerative medicine product.
• Kenkoigaku Association (一般財団法人健康医学協会)minorStrategic or Co-development Partner · 1 May 2017Agreement for specified cell product manufacturing services.

Scale indicators9 records

Recent moves14 records

Expansion highlights6 records

Broad incumbents

• JCR Pharmaceuticals Co., Ltd. Japanese pharmaceutical company (TYO: 4552) with established cell therapy products (e.g., TEMCELL HS-Injection) and broader regenerative medicine capabilities. JCR is a more diversified pharmaceutical company but overlaps with Medinet in contract cell processing, regenerative medicine manufacturing, and serving Japanese medical institutions.
• Lonza Group AG: Global CDMO leader (SWX: LONN) with significant cell and gene therapy manufacturing capabilities including autologous and allogeneic cell therapy services. Lonza is a benchmark for global cell therapy CDMO scale and increasingly serves Japanese cell therapy developers, putting it in competitive overlap with Medinet for international CDMO contracts.
• Catalent, Inc. Global CDMO (NYSE: CTLT) with cell therapy manufacturing capabilities and a broad development services portfolio. Catalent is comparable to Medinet in providing specialized cell therapy manufacturing services to pharmaceutical and biotech clients, particularly for investigational and commercial product manufacturing.
• Astellas Pharma Inc. Japanese pharmaceutical company (TYO: 4503) that has made significant investments in cell therapy through acquisitions (Universal Cells) and internal programs. Astellas represents a potential customer and competitor in cell therapy development and could leverage its scale to capture value currently served by Medinet's CDMO.
• FUJIFILM Diosynth Biotechnologies: Global biopharmaceutical CDMO and subsidiary of FUJIFILM Holdings with growing cell and gene therapy manufacturing capacity. FUJIFILM Diosynth is a domestic Japanese-headquartered competitor with greater scale and capital, targeting the same pharma/biotech customers seeking cell therapy manufacturing services in Asia.
• CMIC Holdings Co., Ltd. Japan's largest CRO/CDMO group (TYO: 2309) providing drug development services from preclinical through manufacturing. While broader in scope than Medinet, CMIC represents the established alternative for Japanese pharma/biotech seeking development and manufacturing partners and competes for some of the same institutional clients.
• WuXi Biologics (WuXi AppTec): Chinese-headquartered global CDMO (HKEX: 2269) with growing cell and gene therapy manufacturing capabilities. WuXi is a competitor for global cell therapy manufacturing contracts and increasingly serves Japanese biotech developers, creating indirect competitive pressure on Medinet's CDMO positioning.
• Samsung Biologics Co., Ltd. Korean-headquartered global CDMO (KRX: 207940) expanding into cell and gene therapy manufacturing. Samsung Biologics competes for the same international cell therapy manufacturing contracts and is establishing Asia-Pacific CDMO presence, putting it in broader competitive overlap with Medinet for Japanese and Asian pharma clients.

Direct peers

• Takara Bio Inc. Japanese cell and gene therapy CDMO/biotech (TYO: 4974) offering cell processing, viral vector manufacturing, and regenerative medicine services. Takara Bio is a direct competitor in cell therapy manufacturing infrastructure and serves overlapping pharma/biotech customers in Japan and internationally.
• Healios K.K. Japanese regenerative medicine company (TYO: 4593) developing stem cell therapies and operating in the same cell therapy and regenerative medicine ecosystem. Both companies are TSE Growth-listed and compete for the same pool of Japanese patients, medical institutions, and research collaborations in cell-based therapies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/medinet-co-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments3 records

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Frequently asked questions about Medinet Co