TOKYO, March 31, 2025 – Ricoh Company, Ltd. (President and CEO: Akira Oyama) today announced the decision of 44% additional share acquisition of its consolidated subsidiary Elixirgen Scientific, Inc. (CEO: Keiki Sugimoto, Ph.D., Headquarter: Baltimore, Maryland, USA) and consolidation of Elixirgen Scientific as a wholly owned subsidiary. The agreement for this additional acquisition was signed and the procedures for the share acquisition was completed today. The impact of this share acquisition on Ricoh's consolidated financial result for the current fiscal year is minimal.
In 2013, Ricoh started to study cell applications using a bioprinter based on its proprietary printer technology and in 2019, entered into a strategic business partnership with Elixirgen Scientific and began joint operations to create synergies with the bio printer. Since Elixirgen Scientific became a Ricoh subsidiary in 2022, Ricoh has been driving two businesses together with Elixirgen Scientific by providing its production process automation technology and production management know-how cultivated to date: Induced Pluripotent Stem (iPS) business, a drug discovery support business that uses cells differentiated from iPS cells, and CDMO business, contract development and manufacturing of pharmaceutical products that uses messenger RNA (mRNA) drug substance. Based on its assessment that both iPS and CDMO businesses have future growth potential, Ricoh has decided to make Elixirgen Scientific a wholly owned subsidiary.
Ricoh will continue to accelerate the development and improvement of drug discovery platforms to solve social issues such as aging population and pandemics through its biomedical business, aiming to contribute to people's health and quality of life.
Elixirgen Scientific contributes to the efficiency of drug discovery research and disease research using iPS cells with its proprietary Quick-Tissue™ technology that enables high-speed differentiation of iPS cells and Embryonic Stem (ES) cells into various types of cells. It also possesses strength in mRNA design and production by applying mRNA to this technology’s differentiation process.
Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support digital transformation of workplaces, workspaces and optimize business performance.
Headquartered in Tokyo, Ricoh's global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organizational capabilities nurtured over its 85-year history. In the financial year ended March 2024, Ricoh Group had worldwide sales of 2,348 billion yen (approx. 15.5 billion USD).
It is Ricoh's mission and vision to empower individuals to find Fulfillment through Work by understanding and transforming how people work so we can unleash their potential and creativity to realize a sustainable future.
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