MEDEZE Group, a pioneering company in stem cell and immune cell innovation, has submitted an IPO filing to the Office of SEC. The company plans to offer nearly 150 million shares, which will be listed on the Stock Exchange of Thailand.
The capital raised from this initiative will position MEDEZE as the leading biotech company in Asia.
Dr. Veerapol Khemarangsan, Chief Executive Officer of MEDEZE Group Public Company Limited ("Company" or MEDEZE), shared that the company specialises in providing services for stem cell analysis, isolation, cultivation, and storage, as well as examining the potential of immune cells (NK Cells). MEDEZE has been successfully operating for over 13 years, offering long-term stem cell storage with innovative and cutting-edge technology. The company's focus is on implementing automated innovations to maximise efficiency and effectiveness in cryopreserved stem cell safety. MEDEZE's state-of-the-art Clean Room Class 100 laboratory is equipped with modern equipment and advanced technology, including cell cryopreservation systems in vapor phase nitrogen, an automated cord blood processing
system (AXP AutoXpress™ Platform), and an automated mesenchymal stem cell cultivation system (Quantum). Additionally, the company has been accredited by the Association for the Advancement of Blood and Biotherapies (AABB), a respected international standard organisation based in the USA. MEDEZE is driven by leading scientists and skilled staff in the biotechnology industry, as well as a strong medical network with renowned hospitals in Thailand.
MEDEZE embarked on its stem cell banking service on July 19, 2010, led by Dr. Veerapol Khemarangsan, Assoc. Prof. Dr. Rangsun Pranpai, and Dr. Chamras Sakulpaisarn, who possess over 10 years of experience in the stem cell business. Currently operating under MEDEZE Group Public Company Limited, MEDEZE has five subsidiaries under its umbrella:
1. MEDEZE Group Public Company Limited: Provides 60-year long-term stem cell storage services, including Newborn Programs, Cord Blood Saving (banking hematopoietic stem cells derived from cord blood), Placenta Saving (banking mesenchymal stem cells derived from cord tissue), and Adipose Saving (banking mesenchymal stem cells derived from adipose tissue) for the general population.
2. MEDEZE NK Company Limited: Offers comprehensive services related to NK Cells (Natural Killer Cells) and has received investment promotion for the "Scientific Testing Service" from The Board of Investment Office (BOI). MEDEZE NK provides testing services to assess the potential strength and count of NK Cells using the Osaki Method, a patented technique developed by Dr. Junichi Masuyama from Japan.
3. MEDEZE Cosmeceutical Company Limited: Engages in the sale of beauty products under the brands DAA and AEDEZEL. These products focus on skin nourishment, protection, and high-quality dietary supplements, utilising specially invented cellular technology to ensure efficacy, safety, and broad user reach.
4. MEDEZE Research & Development Company Limited: Conducts research and development experiments in biotechnology. The company has been selected and announced in the Royal Gazette as a researcher and technology and innovation developer according to the guidelines outlined in the Notification of the Director-General of the Revenue Department in 2021.
5. MEDEZE Treasury Private Limited: Serves as an investment arm, holding and managing the Group's brands while supervising overseas investments.
6. MEDEZE Group Private Limited conducts experimental research and development in natural sciences and medical laboratories to enhance longevity by creating reserve organs for future transplantation.
As of December 31, 2022, MEDEZE adheres to the following certified standards in its business operations:
- ISO 9001:2015, which is the Quality Management System Standards.
- ISO 22716:2007, or Good Manufacturing Practice (GMP).
- Accreditation by the Association for the Advancement of Blood and Biotherapies (AABB) since 2019, a rigorous standard for stem cell banks that complies with the requirements of the United States Food and Drug Administration (U.S. FDA) for the hematopoietic stem cell banking process.
- Clean Room Class 100 Standard since 2013, awarded by the National Environmental Balancing Bureau (NEBB) from Germany. This standard regulates the number of particles, pressure, and temperature in the laboratory.
The CEO of MEDEZE added that the Group operates with a vision to extend lives through BIOLongevity Technology, which has earned prestigious awards. MEDEZE has been recognised as Thailand's Best Stem Cell Banking Company of the Year for four consecutive years and has received Southeast Asia awards for three consecutive years. In 2023, MEDEZE was granted the Southeast Asia Stem Cell Banking Company of the Year Award by Frost & Sullivan, a renowned institution based in the USA.
MEDEZE is prepared to achieve new heights of success by listing on the Stock Exchange of Thailand. The company aims to deliver superior services with the highest medical standards and become a leader in the biotechnology industry as well as the premier stem cell bank in Asia. The capital raised from the IPO will be allocated as follows:
1. Research and Development of Hair Cell Service:
MEDEZE intends to develop innovative solutions for hair and scalp-related issues, such as hair loss, thinning hair, and baldness, which are common among the elderly.
2. Installation of a Full Automated Robotic Cell Processing System:
MEDEZE plans to implement a cutting-edge and state-of-the-art innovation accepted by institutions and organisations worldwide. This system aims to enhance the safety of the storage process, reduce human errors, and minimise variability resulting from different environments. By doing so, MEDEZE aims to establish its stem cell banking service as reliable and comparable to leading corporations globally, attracting both domestic and international customers.
3. Working Capital:
MEDEZE has filed a Registration Statement with the Securities and Exchange Commission (SEC) to offer the sale of securities through an initial public offering (IPO). The listing on the Stock Exchange of Thailand (SET) is scheduled for April 28, 2023.
Currently, MEDEZE has a registered capital of 300 million baht, divided into 600 million ordinary shares with a par value of 0.50 baht per share. The paid-up capital amounts to 225 million baht. MEDEZE plans to offer an IPO of up to 150 million shares, representing 25% of the total ordinary shares.
Nevertheless, MEDEZE has a policy to pay dividends to shareholders, amounting to no less than 30 percent of the net profit after deducting corporate income tax and allocating all required reserves according to the law and the Company's regulations each year.
As of now, the major shareholding structure is as follows: MEDEZE Holding Company Limited holds 45.09% of the shares, which will be reduced to 33.81% after the IPO; Dr. Veerapol Khemarangsan holds 32.02% of the shares, which will be reduced to 24.01% after the IPO; Dr. Chamras Sakulpaisarn holds 18.47% of the shares, which will be reduced to 13.85% after the IPO; Dr. Rangsun Parnpai holds 3.69% of the shares, which will be reduced to 2.77% after the IPO; and Mrs. Phunurai Akkarasacksakun holds 0.73% of the shares, which will be reduced to 0.55% after the IPO.
Additionally, MEDEZE has appointed Yuanta Securities (Thailand) Company Limited as the financial advisor for listing shares on the Stock Exchange of Thailand (SET).
