Dr. Veerapol Khemarangsan, Managing Director of Medeze Group Public Company Limited (SET: MEDEZE), revealed to “Kaohoon” that 2026 will be a year of execution. The company has set a goal to drive total revenue growth to THB 1 billion, up from a projected THB 800 million in 2025.
The upbeat outlook was due to the easing of various negative factors, which should result in more customers using services related to the storage of umbilical cord blood stem cells, umbilical cord tissue stem cells, adipose tissue stem cells, Natural Killer cells (NK Cells), and hair follicle cell storage.
Additionally, starting in 2026, the company will focus on cost control and benefit from an 8-year investment promotion tax incentive from the Board of Investment (BOI), reducing its tax burden from 12-15% to just 2%, thereby significantly improving profitability.
Currently, the progress of the Advanced Therapy Medicinal Products Sandbox (ATMPs Sandbox) pilot innovation center project is under ethical review by the medical ethics committee, to allow human product trials. This is expected to be concluded and approved by the end of January 2026.
Most recently, the company has submitted relevant documents for the development of ATMPs to the Food and Drug Administration (FDA) for detailed inspection and is preparing to develop the sandbox center at Bang Rak Medical Center and Vachira Phuket Hospital. The company expects that by March 2026, or by April at the latest, all related parties will officially announce approval of the ATMPs Sandbox and begin official product trials.
Dr. Veerapol stated that in developing ATMPs, the company aims first to develop products for osteoarthritis and skin aging disorders, which should be registered within 2026, and plans to develop and register new products for two additional disease groups per year.
Moreover, the company has projected the market size for target patient groups for future development as follows:
- Osteoarthritis, with approximately 6 million patients and an estimated 180,000 interested in and able to access treatment with stem cells.
- Skin aging disorders, with an estimated 32.5 million patients and 980,000 able to access injections of adipose-derived mesenchymal stem cells (AD-MSCs).
- Anti-aging, with an estimated 12.4 million patients and 370,000 able to access stem cell treatment.
- Herniated disc, with about 380,000 patients and 11,000 able to access AD-MSCs treatment.
- Hair loss, with about 580,000 patients and 17,000 able to access hair follicle stem cells.
- Chronic kidney disease, with about 350,000 patients and 10,000 able to access AD-MSCs.
- Liver disease, with about 640,000 patients and 19,000 able to access AD-MSCs.
In January 2026, the company will also announce a plan to expand into the Mongolian market, as the country possesses relatively high purchasing power and is considered a promising market with a population base of about 4 million. Initially, MEDEZE will invest in the development of a laboratory in a partner orthopedic hospital to support research and development of ATMPs, with the first product targeting osteoarthritis.
Dr. Veerapol added that 2027 is expected to be a good year, as the company will start to recognize revenue from ATMPs, and in 2028, total revenue and profit should double. He expects much broader public acceptance and mainstream recognition of stem cell storage and use, while contributions from ATMPs will increase. He is confident that the government will offer full support, especially in terms of regulatory matters, opening opportunities for MEDEZE to become an ATMPs Hub.
