Reliance Life catches US firm's eye

GlobalStem Inc, a leading player in human embryonic stem cell research and media development in the US, is in talks with Reliance Life Sciences for a strategic alliance to develop new research tools in the life sciences space.

A senior scientific and business development team from GlobalStem, which was in India last week, has had its first round of discussions with the Reliance Life Sciences brass.

Sources close to the development said the US stem cell major was positive about the capabilities of Reliance Life Sciences in the emerging field.

"It might work out to be a very important joint research portfolio with the Indian company as it actively seeks out reputable partners to help advance its mission," they said.

While sources from the Bethesda-based company confirmed that talks were on with Reliance Life Sciences, an executive of the latter company said, "We cannot make any specific comments at this point as the company has been in discussions with many international majors in the area of stem cell research."

Reliance Life Sciences, part of the Rs 90,000-crore (Rs 900 billion) Reliance Group led by Mukesh Ambani, has been one of the pioneering ventures in stem-cell research and related bio-therapeutic sciences in India. The company has already developed an array of therapeutic and diagnostic tools based on cell-line research.