The Hindu Business Line : LifeCell to invest 60 cr to set up more centres

LifeCell, the Chennai based stem cell banking and research centre, plans to invest Rs 60 crore in the next two years to set up stem cell transplant centres in India and abroad.

Currently, it has 18 marketing and collection centres in India and expects the number to reach 31 by the end of March 2007. It would also be expanding its overseas presence by establishing its centres in cities such as Singapore, Kuala Lumpur, Dubai and Bangkok

"We are in talks with two of the biggest hospitals in Mumbai and with some of the hospital chains in Delhi to avail their facilities for the project. We are also talking to tie-up with some of the largest Indian software companies for gifting their employees cord blood stem cells as a part of maternity benefits," said Mr Prasad Mangipudi, Vice-President, Marketing, LifeCell, said at a press conference here.

LifeCell in collaboration with Sri Ramchandra Medical College and Research Centre (SRMC), Chennai, will set up a stem cell transplant centre, which would be operational by the end of this year.

Mr Anthony Finch, Director of CRYO CELL International USA, would be taking charge of the transplant centre in India. With an experience of more than 25 years in stem cell research, transplantation and cord blood processing, Mr Finch will supervise right quantum and quality of procedure in stem cell extraction procedure at par with the US FDA standards.

"There must be right standard for regulating stem cell transplants. So the Government must fix certain regulatory procedure for all labs in the country, which in turn must comply with international standards. If the right procedures are not adopted at different levels, it may mislead the patients which can undermine the potential of the stem cells in curing some of the most fatal diseases," said Mr Finch.

The company estimates that about 3,000 people already have stored stem cells in the country. The cell transplant system is estimated to cure about 75 malignant and non-malignant diseases, including diabetes, leukaemia and many more.