Dr. Veerapol Khemarangsan, M.D., Chief Executive Officer of Medeze Group Public Company Limited (SET: MEDEZE), informed “Kaohoon” regarding the progress of the Advanced Therapy Medicinal Products Sandbox (ATMPs Sandbox) investment project, stating that there are two sites: 1. Bang Rak Medical Centre and 2. Vachira Phuket Hospital.
The investment for Bang Rak Medical Centre has already been completed, and it is set to be officially launched as the National ATMP Building by the third week of November 2025. This center will focus on osteoarthritis research, which have already been submitted to the Ethics Committee. It is expected to take about one month to make necessary improvements for public safety, and the research is anticipated to be authorized by October 2025. Documentation for the Food and Drug Administration (FDA) inspection of the products has been submitted, and the company is awaiting the FDA’s site visit.
Meanwhile, the Vachira Phuket Hospital will conduct research on facial skin degeneration, for which the research has been completed and is awaiting approval. By November 2025, samples will be sent to Bangkok, and later, cells will be sent back to Vachira Phuket Hospital for injections and further treatment. Beyond these two diseases, future research includes therapies for degenerative disc disease, colon cancer, and anti-aging restoration.
Regarding the plan to purchase new land in the purple zone (industrial and warehouse zone) for constructing a drug manufacturing plant supporting the company’s strategy to become a “Bio-pharma Chemical Company,” the purchase is expected to be completed within this year. The project will comprise several buildings, such as a hair follicle stem cell lab, a cell culture solution factory in partnership with government agencies, and an NK cell (natural killer cell) development lab. The project is projected to complete within a year and a half or begin commercial operations as early as 2027.
Medeze Hair Renaissance Co., Ltd., a subsidiary established with a registered capital of THB 100 million for Asia’s first hair follicle stem cell banking business, has been operating since early 2025. Simultaneously, the company invested THB 12 million in the development of the MEDEZE Plus Auto Matching Software system, using AI technology to analyze target group perceptions and brand insights for marketing activities.
Additionally, the 400-million-baht Robotic Cell Culture System investment is also progressing. The supporting building is complete; the next step is system installation. “Shibuya Corporation” is developing the smart cell culture system, with 40% progress to date, and the project is expected to be completed by March 2026 before the system is relocated and assembled in Thailand for commercial use starting early 2027.
Dr. Veerapol further stated that 2025 is a year of investment for MEDEZE, laying the foundation for the entire advanced medical products ecosystem, resulting in a one-time effect from significant research, personnel, ATMPs Sandbox, land acquisition, upstream business, public relations, government negotiations for support, and more.
For the third quarter of 2025, the company’s performance is expected to be similar to the second quarter, which saw total service revenue of THB 197.64 million, as service utilization remains stable due to the sluggish economic environment and declining spending. However, in the fourth quarter of 2025, performance is expected to rebound, often coinciding with increased childbirth, resulting in higher stem cell collection activity from both umbilical cord blood and tissue.
After the 3Q25 financial statement announcement, the company may slightly revise down its full-year 2025 revenue target, which was originally THB 1 billion, up from 2024’s THB 897 million. Total revenue for the first six months of 2025 is around THB 432 million.
On market expansion, the company plans to enter the Philippines and Mongolia, building on its presence in Singapore, Vietnam, Myanmar, and Cambodia, targeting expansion into one to two new countries per year.
Moreover, in 2026, the main business is expected to resume growth in line with economic recovery and investment clarity. By 2027, MEDEZE expects a strong year thanks to successful drug registrations and sales to all hospitals. Investments made now are projected to drive an average compound annual growth rate (CAGR) of 25% per year. If MEDEZE receives more than ten certifications from the Board of Investment (BOI), the company expects zero tax obligations or only a 1% rate by 2027, down from the current 12%.
