Nexel and Japan's CMIC Holdings are discussing cooperation for a symposium to be held in September. / photo courtesy = Nexel

 Nexel, a company specializing in human induced pluripotent stem cells (hiPSC), announced on the August 1st that sales in the first half of the year were 1.73 billion won, a 177% increase compared to the same period last year. It is the highest sales in the first half of the year. This is attributable to a significant rise in CDMO sales of subsidiary Nexel USA.

A company official said, "The main reason for this increase in sales is the increase in demand for hiPSC-derived 2D cardiomyocyte products according to the revised ICH guideline S7B/E14 and the expansion of cardiac safety pharmacology evaluation tests. In addition, it is expected to continue with the launch of full-scale business in the Indian market, which was pioneered earlier this year, increased product purchases from GSK and J&J, and the launch of CDMO service to the US Food and Drug Administration (FDA).”

In particular, the company explained that mid- to long-term growth is expected in that CMIC Holdings, the largest CRO in Japan, has chosen Nexel as a business cooperation partner for a project to create an 'Asian in vitro test method hub'.

Nexel and CMIC will finalize the contract on specific cooperation plans by the end of August, and as a first step to commemorate the cooperation, they will hold an international joint symposium consisting of invited guests from both companies at the CMIC headquarters in Tokyo on September 6.

CEO Han Choong-seong said, "Nexel is an export company that increases sales with hiPSC-based 2D and organoid technology and is a global company." "We will not be satisfied with the fruits of cooperation with CMIC, the largest CRO in Japan, and will actively explore the US, Japan, India, Europe and China markets."