TOKYO, May 20 (Pulse News Wire) – Innovacell Inc. (504A.T) raised approximately ¥1 billion through its initial public offering (IPO) on the Tokyo Stock Exchange's Growth Shijou market on February 24, 2026.
The company used part of the proceeds to repay its European Investment Bank (EIB) loan early, totaling €¥17.5 million, which included €¥15 million in principal and €¥2.5 million in accrued interest. As of March 31, 2026, Innovacell’s balance sheet showed total liabilities of ¥260 million and total assets of ¥11.70 billion, resulting in a net asset value of ¥10.1 billion. Despite repaying the EIB loan ahead of schedule, Innovacell will continue to recognize royalty payments based on future revenues according to the existing contract.
For the quarter ending March 31, 2026, Innovacell reported a consolidated operating loss of ¥723 million against projected expenses of ¥720 million. The company also recorded a net loss of ¥953 million due to listing-related costs amounting to approximately ¥1 billion. Innovacell expects significant progress in the development of its pipeline products, particularly ICEF16 entering human clinical trials and ICEF15 moving towards commercialization.
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