# Heartseed Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/heartseed-co

- Industry: Biotechnology
- Headquarters: Tokyo, Japan
- Website: www.heartseed.jp
- Total disclosed funding: $87M
- Latest round: Series D (May 25, 2023)
- Investors on record: 15

## About

Based in Japan, Heartseed Co., Ltd. focuses on advancing cardiac regenerative medicine through innovative treatments aimed at addressing severe heart failure conditions, leveraging cutting-edge biotechnology.Heartseed Co., Ltd. specializes in cardiac regenerative medicine, particularly for severe heart failure. Founded in 2015 and headquartered in Tokyo, Japan, the company has conducted 9 deals, with the most recent deal occurring on July 30, 2024. In this deal, Heartseed raised JPY 2 billion through an IPO, selling shares at JPY 1,160 each on the Tokyo Stock Exchange Growth Market. The company was founded by Keiichi Fukuda, who has a background in leading other healthcare ventures. As of the latest funding round, which was a Series D, Heartseed has raised a total of JPY 2,015 mn, resulting in a current valuation of JPY 49,418.842 mn.Heartseed Inc. specializes in cardiac regenerative medicine, focusing on the treatment of severe heart failure due to conditions such as heart failure with reduced ejection fraction and dilated cardiomyopathy. The company's primary product, HS-001, involves transplanting cardiac muscle derived from allogeneic induced pluripotent stem cells (iPS cells) directly into the myocardium, addressing the lack of vital ventricular muscle in heart failure cases. Heartseed aims to expand access to its regenerative technologies through research collaborations and clinical trials with various healthcare institutions globally.Heartseed's revenue model is based on B2B transactions, forming partnerships with healthcare providers and hospitals to implement its regenerative therapies. The company engages in strategic collaborations that facilitate the delivery of its cardiac regenerative solutions, which involve contractual agreements for technology access and service delivery. While specific pricing for HS-001 and other services is not disclosed, Heartseed positions its offerings competitively within the regenerative medicine market to promote accessibility and scalability.Heartseed plans to utilize the recent Series D funding raised in July 2024, amounting to JPY 2 billion, to accelerate the development and launch of new products within the cardiac regenerative medicine sector. The company is targeting expansion into international markets, with a focus on regions including North America and Europe by the end of 2025. This growth strategy will involve advancing their clinical trials and enhancing collaborations with healthcare institutions to broaden their market reach.

## Funding rounds

- Series D, May 25, 2023, $14M — Sumitomo Mitsui Trust Investment, Arcus I, SMBC Venture Capital, SBI Investment, Keio Innovation Initiative, UTokyo Innovation Platform, Medical Incubator Japan, Koei Tecmo Capital
- Series C, Jun 11, 2021, $36M — Sumitomo Mitsui Trust Investment, SMBC Venture Capital, SBI Investment, Nissay Capital, Medipal Holdings Co., Ltd, Keio Innovation Initiative, UTokyo Innovation Platform, Medical Incubator Japan, ITOCHU CHEMICAL FRONTIER Corporation
- Series B, Nov 21, 2019, $29M — SMBC Venture Capital, SBI Investment, Nissay Capital, JMDC Inc.
- Series A, Jul 30, 2018, $7.2M — Astellas Venture Management, Shibuya Kogyo Co., Ltd, Angel Bridge

## Investors

- Astellas Venture Management (https://capitalatlas.ai/funds/astellas-venture-management) — Series A
- Shibuya Kogyo Co., Ltd — Series A
- Angel Bridge (https://capitalatlas.ai/funds/angel-bridge) — Series A
- SMBC Venture Capital (https://capitalatlas.ai/funds/smbc-venture-capital) — Series B, Series C, Series D
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series B, Series C, Series D
- Nissay Capital (https://capitalatlas.ai/funds/nissay-capital) — Series B, Series C
- JMDC Inc. — Series B
- Sumitomo Mitsui Trust Investment (https://capitalatlas.ai/funds/sumitomo-mitsui-trust-investment) — Series C, Series D
- Medipal Holdings Co., Ltd — Series C
- Keio Innovation Initiative (https://capitalatlas.ai/funds/keio-innovation-initiative) — Series C, Series D
- UTokyo Innovation Platform (https://capitalatlas.ai/funds/utokyo-innovation-platform) — Series C, Series D
- Medical Incubator Japan (https://capitalatlas.ai/funds/medical-incubator-japan) — Series C, Series D
- ITOCHU CHEMICAL FRONTIER Corporation — Series C
- Arcus I — Series D
- Koei Tecmo Capital — Series D