News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 18 years ago
Home  » Business » India's 1st stem cell transplant centre by April

India's 1st stem cell transplant centre by April

Source: PTI
December 08, 2005 15:12 IST
Get Rediff News in your Inbox:
India's first exclusive state-of-the-art stem cell transplant centre would become operational in Chennai by April 2006.

For setting up the centre, LifeCell, pioneers in cord blood stem cell banking in India, and Sri Ramachandra Medical Centre, a tertiary care multi-speciality university hospital have entered into a tie-up, S Abhaya Kumar, CEO, Asia Cryo-Cell Pvt Ltd, which owns LifeCell, said.

While LifeCell would invest Rs 15 crore (Rs 150 million) in the project, SRMC would be providing an exclusive 15,000 sq.ft area in their seven-storeyed ambulatory facility at their premises in Chennai, he said.

"The centre will be meant exclusively for stem cell transplants and will be conducted by experienced and renowned stem cell transplant specialists from around the world", he said adding that intellectual property generated out of the centre through research would be shared by both.

The centre would initially focus on haematological and oncological ailments and expand to other areas in a phased manner.

"LifeCell has committed layout of Rs 40-50 crore (Rs 400-500 million) over the next 2-3 years on stem cell banking, research and therapy" he said.

"We want to make the therapy as affordable as possible for Indians. Keeping the cost low is therefore a challenge", he said.

SRMC's Dr Krishna Seshadri, said the tie-up allowed SRMC to be part of an "exceptionally evolving technology" as stem cells had the potential to be used in replacing defective organs in the future.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!