Setsuro Tech Co., Ltd.
Capital and business alliance with Sumitomo Corporation
Strengthening business and R&D partnerships to promote the spread of genome editing technology in society
Setsurotech Co., Ltd. (Headquarters: Tokushima City, Tokushima Prefecture, President: Shinichiro Takezawa, hereinafter “Seturotech”), which provides genome editing research and development contract services, is pleased to announce that Sumitomo Corporation
(Headquarters: Chiyoda-ku, Tokyo, Representative We are pleased to announce that we have reached an agreement with Masayuki Hyodo, Director, President and Chief Executive Officer (hereafter referred to as “Sumitomo Corporation”) to conclude a capital and business alliance agreement, including a third-party allotment of shares. Through this alliance, Setsurotech aims to accelerate the commercialization of genome editing products, which are the results of research and development, and to accelerate the penetration of genome editing technology into society.
[Background of the capital and business alliance]
Seturotech, a venture company originating from Tokushima University, is a commissioned development business called PAGEs (Platform App(lication) using Genome Editing by Setsurotech) that works on the development of new breeds in the field of agriculture and livestock using genome editing technology according to customer needs. ” is being developed. Genome-edited breeding, which aims to develop new breeds by applying genome-editing technology to various species, is one of the world’s hot topics, and various developments are being made every day. The market size of genome editing technology in the breeding field is expected to grow from $20 billion in 2020 to $58 billion in 2030. (Quoted from Nihon Keizai Shimbun November 18, 2021) Setsurotech regards genome editing technology as a technology that “brings out the diverse abilities of living things.” We aim to grow into a company.
Since 2020, Setsuro Tech has been working on technical consulting for Sumitomo Corporation’s genome editing business. Through this collaboration, Seturo Tech, which has research and development capabilities that make use of its unique genome editing technology and know-how, and Sumitomo Corporation, which has extensive experience in commercialization both in Japan and overseas, are expected to generate greater synergies. We have reached a partnership. Through this capital alliance through the third-party allotment, we will promote the spread of genome editing products in society.
[Specific measures to be taken through the capital and business alliance] (1) Business alliance
1. Sumitomo Corporation is in charge of the commercialization of genome editing products obtained as a result of efforts and
development by Setsurotech
2. Strengthening the planning and development capabilities and lineup of Setsurotech’s proprietary genome editing products
3. Scheduled to conclude an agency agreement with Sumitomo Corporation for the PAGEs business in Japan and overseas
4. Scheduled to conclude an agency contract with Sumitomo Corporation for ST8, Seturotech’s original genome editing factor
(2) Capital tie-up
Investment by Sumitomo Corporation underwriting shares for sale by third-party allotment of Seturotech
The comments of each company regarding the capital and business alliance are as follows.
Setsuro Tech (President Takezawa):
Through our efforts so far, we have come to understand that Sumitomo Corporation has a great interest in the development of genome editing technology in the field of agriculture and livestock, and that we can share our thoughts. We expect that they will be able to accelerate the genome editing industry by leveraging their business development capabilities and overseas achievements, and have high expectations for this partnership.
Sumitomo Corporation (General Manager, Daikoku Agri-Innovation): We believe that Seturotech’s technical capabilities, which support the healthy and strong growth of living things such as animals, plants, insects, and microorganisms, will play an important role in
sustainable food production. We will promote cooperation with companies that support such a vision as a strategic partner. [About Setsuro Tech]
Setsuro Tech is a venture company from Tokushima University, founded in 2017 based on the technology and know-how cultivated at Tokushima University. In 2015, Tatsuya Takemoto (Representative Director, Chairman and CTO) of the University of Tokushima and others developed a “method for easily and highly efficiently producing genome-edited mice” (Patent No. 6980218). In addition, Shun Sawatsuhashi (Executive CSO) of Tokushima University has developed the VIKING method, which realizes highly efficient genome editing in cultured cells (Patent No. 6956995). Furthermore, we have developed our own novel genome editing factor ST8 (Patent No. 7113415), and are proceeding with research and development to speed up breeding in the fields of medicine,
agriculture, and livestock. Using these unique technologies, Setsurotech develops contracted genome editing services for
researchers in academia and companies, and also provides genome-edited organisms that utilize Cas9 alternatives to a wide range of
industries, pioneering the genome editing industry. We are developing the PAGEs (Platform App (lication) using Genome Editing by
Setsurotech) business that aims to We will contribute to the local industry with the vision of “making Tokushima the birthplace of the genome editing industry.”
◆Outline of Sumitomo Corporation
1. Trade name: Sumitomo Corporation
2. Representative: Masayuki Hyodo, Representative Director, President and CEO 3. Location: Otemachi Place East Tower, 2-3-2 Otemachi, Chiyoda-ku, Tokyo 4. Established: December 24, 1919
5. Main business: Sales of various products and services,
import/export and trilateral trade, and domestic We are developing diversified business activities that make use of our comprehensive strengths, such as overseas business investment.
6. URL: https://www.sumitomocorp.com/en/jp
◆Overview of Setsuro Tech Co., Ltd.
1. Trade name: Setsuro Tech Co., Ltd.
2. Representative: Shinichiro Takezawa, Representative Director 3. Location: Setsuro Fujii Memorial Medical Science Center, 3-18-15 Kuramoto-cho, Tokushima City, Tokushima Prefecture
4. Established: February 22, 2017
5. Main business: Research support service by genome editing and commercialization of new varieties
6. URL: https://www.setsurotech.com/
Details about this release: