Metcela selected for J-Startup 2019, a government led initiative for supporting startups
Metcela Inc., a biotech startup specializing in fibroblast-based cell therapy, announces that the company was selected for J-Startup 2019, a public-private joint initiative for supporting startup.
J-Startup was inaugurated in 2018, and is organized by The Ministry of Economy, Trade and Industry (METI), the Japan External Trade Organization (JETRO) and the New Energy and Industrial Technology Development Organization (NEDO). The selected companies are entitled to make use of joint supports from the public and private sectors for becoming leaders in oversea markets.
With the support from J-Startup supporters and associating organizations, Metcela plans to accelerate the preparations for clinical trial and oversea expansion, as well as explore potential alliances to further its business.
For further information about the program, please refer to the below announcement from METI:
“J-Startup” was inaugurated in June 2018 to mentor ambitious startups into becoming leaders in overseas markets. The startups are selected by METI from a larger pool of companies nominated by outside experts, including venture capitalists, accelerators and personnel in charge of new business ventures in larger companies. Organizations from both the public and private sectors jointly provide intensive support measures to these selected startups, working with cooperating partners, called “J-Startup Supporters”, consisting of large companies and accelerators.
METI, the Japan External Trade Organization (JETRO) and the New Energy and Industrial Technology Development Organization (NEDO) together organized a secretariat that has been conducting the program.
This year, METI newly selected 49 startups as J-Startup companies focusing on three factors i) promotion of open innovation, ii) overseas business development and iii) discovery of promising startups in non-metropolitan regions.
Metcela Inc. is a pre-clinical stage biotechnology company that researches and develops cell-based therapy. Since its establishment on March 2016, Metcela has been focusing on the development of “VCF” or VCAM1-positive Cardiac Fibroblast, a cell-based therapy to provide an alternative therapy option for those with heart failure. With this financing, Metcela aims to develop effective cell delivery system, conduct safety and efficacy experiments, and prepare for the first-in-human Phase I clinical trial. Metcela is also planning to expand the research team and collaborate with the other research institutions, and pursue to develop new product pipelines by taking advantage of its proprietary cell therapy-related technologies.