#08 "iPS cells will change the world! A big decision to "start a business"
to realize the dream of "changing the world!

As for the current state of iPS cell research, cell product development companies around the world are now working to solve problems such as culture medium cost, culture space issues, and the inability to structure multiple cells in the same way as organs in vivo. We have been working on the infrastructure technology necessary for cell culture by producing iPS cell-derived cardiomyocytes using protein-free culture media and by collaborating with equipment manufacturers and manufacturers of culture substrates and chemicals. As a result, we have succeeded in developing iPS cell-derived cardiomyocytes with excellent lot-to-lot uniformity and properties similar to mature human cardiomyocytes, while keeping production costs low by using a culture medium that combines low molecular weight compounds instead of expensive proteins. Based on this product, we are developing our business in three main areas: sales of iPS cell-derived cardiomyocytes, licensing-out of differentiation induction technology, and contract research for the development of regenerative medical products.

When I was a student at the Graduate School of Engineering, I worked part-time in the laboratory of Dr. Kazunari Minami (now at Osaka University) at the Institute for Integrated Cell-Material Sciences (iCeMS) of Kyoto University to support his iPS cell research, including cell culture and programming of cell image analysis. Upon graduation, Dr. Minami asked me to join him in founding Myoridge with the then director and CTO, Shinichi Sueda (then affiliated with Kyoto University's iPS Cell Research Institute), in order to utilize the results of Dr. Minami's research for drug discovery and new drug development. When it comes to starting a business, the first thing you need is funding, so we started by making presentations to investment companies. However, I was a complete amateur in this field, so I had to start from the very beginning by learning technical terms.

We first became aware of Myoridge around October 2016. We remember that the presentation materials and technology were very outstanding, as well as the faces and qualities of the members. I immediately went to Kyoto to speak with him directly, and Mr. Minami thoughtfully answered my questions where science was concerned. I could tell that he had conceived of this company not only as a researcher, but also after careful consideration of business matters. Mr. Makita was certainly young at the time and probably had little business experience, so to be honest, there was some discussion within the company that I was a little concerned about him. However, I felt that Makita-san's core strength and trustworthiness as a person outweighed my concerns. That is how we first met.

First of all, the fact that they accurately grasped the needs of the market and that their starting point technology is very solid was very appealing to me. The current market needs are to see the effects of various drugs in vitro without animal testing, and Myoridge's strength in being able to use iPS cells to produce products in vitro made it a perfect fit for the needs of the world. In addition, the fact that the core technology of inducing cardiac muscle from iPS cells can be done entirely with small molecules while keeping costs low is also extremely valuable, and I thought that social implementation would spread at an accelerated pace. I thought that this would accelerate the spread of social implementation of the technology.

That's not fair, already (laughs). But Myoridge is such a wonderful entrepreneur that I sincerely want to say, "Please let us invest in you," and I myself am thinking, "Thank you very much for accepting our investment.

After Mr. Beyond decided to invest, Mr. Makita and Dr. Minami visited our company. Our company focuses on technology, but Myoridge is very unique in that he looks at cardiomyocytes administered to people as a true engineering object, and handles cells in an engineering manner! They are one-of-a-kind people that no other company has. (Laughs) I had a gut feeling that it would be interesting as an investor.

As venture capitalists, our three companies have different areas of expertise. First of all, we are based at Kyoto University, the same location as Myoridge, and we have strengths in technology. Beyond is very good at nurturing companies led by young people like Mr. Makita and companies starting from scratch, and REVIC has extensive knowledge in corporate accounting and governance. We hope that each of us will bring our strengths to support Myoridge's rapid growth.

We make it a minimum rule that those who invest, such as ourselves, do not agitate. I think that if we encourage people to start their own businesses, there probably won't be any penny-pinching and people will be unhappy.... On the other hand, as Mr. Morishima said, some people start with conviction, while others raise their own level while doing so. Whatever the case may be, if we decide to push forward after careful consideration, we would like to push forward firmly.

Our company received our very first order for cardiomyocytes in May 2017, and we were so extremely happy that we kept that order form on display in our lab for a long time (laughs). Five years after starting the company, we have now decided to start product development using our cardiomyocyte production method at a pharmaceutical company in the United States. This is the first research aimed at clinical trials, and I believe it will lead to a great leap forward toward social implementation. Our biggest mission is to make regenerative medicine using iPS cells practical and widely available to many people. The more truly effective a treatment is, the more it should be available to everyone, so we would like to actively collaborate with various companies and manufacturers around the world in new research and development in the future.

Really (laughs). I believe that Myoridge's footsteps will encourage those who are currently unsure, and I am confident that the circulation of people will be promoted there, and innovation in Japan will advance much further. I hope that many people will pay attention to and support Myoridge.