Innovacell Inc. (Ticker: 504A JP) is a Japan-based biotechnology company developing regenerative medicine products specifically targeted at treating fecal and urinary incontinence. Headquartered in Tokyo, the company operates with a key subsidiary, Innovacell GmbH, located in Innsbruck, Austria. The company plans to list on the Tokyo Stock Exchange Growth Market on February 24, 2026.

Innovacell intends to offer a total of approximately 9.13 million shares, split between 8.4 million new shares and roughly 725,000 existing shares. The indicative price range is set between JPY 1,290 and JPY 1,350 per share. At the top of this range, the IPO is expected to raise JPY 12.32 billion (approximately US$78 million), giving the company a reported market capitalization of roughly US$280 million. The offering is led by Nomura Securities as the lead underwriter, with SBI Securities also participating. The company was established in 2021 and is currently led by Representative Director Jason Seger. Recent financial data indicates the company is in a pre-profit growth stage, having recorded net losses in the fiscal year ending December 2024 as it continues its research and development efforts.