Dr. Veerapol Khemarangsan, M.D., Chief Executive Officer of Medeze Group Public Company Limited (SET: MEDEZE), stated that the Company’s Board of Directors Meeting, held on 10 November 2025, resolved to approve a joint investment between the company, the Government Pharmaceutical Organization (GPO), and Cretan Associates Co., Ltd., and the establishment of a joint venture company (with the company name being considered).
The company will have a registered capital of THB 105 million, consisting entirely of 1,050,000 ordinary shares with a par value of THB 100 per share. Initially, the agreement will be signed by the end of 2025, and the company is expected to be registered within the first quarter of 2026.
The purpose of the aforementioned joint venture is to develop, construct, and manage a cell culture media production plant in Thailand. In 2026, activities will focus on design planning, construction permit applications, and applying for investment promotion benefits from the Board of Investment (BOI). Construction will commence in 2027, with commercial production starting in 2028.
The scope of operations includes: 1) all actions related to the production of cell culture media in Thailand, such as sterile rooms and Water for Injection (WI) systems; 2) establishing and managing a warehouse in Thailand to support cell culture media production; 3) marketing activities and export of cell culture media to foreign countries; and 4) any direct or indirect activities related to the production of cell culture media to benefit the joint venture’s operations.
The company is thoroughly preparing in all aspects—personnel, infrastructure, and standards—to support business expansion, especially regarding achieving Good Manufacturing Practice (GMP) standards and developing the Advanced Therapy Medicinal Products Sandbox (ATMPs Sandbox), which will form the foundation for long-term growth. MEDEZE is also transitioning from a stem cell bank to a biopharmaceutical company.
Recently, the government, through the Department of Medical Sciences, has issued new regulations on the criteria and conditions for certifying cell bank standards in 2025, requiring Thai nationals to be major shareholders in cell banks to enhance confidence in the quality, safety, and efficacy of cells stored for medical and public health purposes.
Therefore, cell bank operations must comply with international standards, support, and promote domestic operators to run standard-compliant cell banks, and prevent unfair business practices. As a result, regulations on the standards certification of cell banks are necessary.
Additionally, the ATMPs Cluster Thailand has been established to elevate Thailand as a Medical Innovation Hub, supporting the entire value chain: upstream in research and development (R&D) and stem cell products; midstream in production and quality control to meet comprehensive standards; and downstream in marketing and commercial use.
Under regulatory supervision, such as the Food and Drug Administration (FDA), two pilot ATMPs Sandbox centers are planned: Bang Rak Medical Center and Vachira Phuket Hospital, focusing on research on degenerative disc disease and facial skin aging. In 2026, clinical trials will be conducted with 120 subjects per disease, with results expected by mid-2026 and medication registration by the fourth quarter of 2026.
