Innovacell Inc. launched a ¥14.16 billion (about US$91.2 million) initial public offering on the Tokyo Stock Exchange to finance clinical development of its cell therapies targeting urinary incontinence. The IPO marks a return of biotech listings in Japan after a slow period and supplies Innovacell with capital to run trials, expand manufacturing, and fund international business development. Company executives said proceeds will support IND‑enabling studies and commercial preparation. The listing also indicates growing regional investor interest in cell therapy platforms and domestic biomanufacturing scale‑up. The offering will be watched as a barometer for Japan’s capital markets appetite for pre‑commercial cell‑therapy companies and for cross‑border collaboration opportunities in regenerative medicine.