A Kyoto-based medical startup said Monday it has developed what it believes to be the world's first method for mass-producing blood platelets from induced pluripotent stem cells, better known as iPS cells, opening new possibilities for controlling bleeding after accidents or surgeries.

Platelets are used to minimize bleeding and are made from donated blood.

Megakaryon Corp. teamed up with a group of 15 other Japanese companies for the iPS cell project, including the Otsuka Pharmaceutical group and Sysmex Corp., to develop a cheaper method to mass produce platelets.