LifeCell, the service provider company of Asia CRYO-CELL Private Ltd has signed a pact with Sri Ramachandra Medical College & Research Institute (SRMC & RI), a deemed university, to set up a stem cell transplant centre in Chennai.
The transplant centre, which is the first of its kind in India, will commence operation before the month of June 2006, informed LifeCell. The centre, with an investment of Rs.15 crore will initially focus on haematological and oncological ailments and later expand to other areas in a phased manner.
An exclusive area of 15,000 sq. ft. at SRMC will be dedicated for stem cell transplant centre. The right of the intellectual property resulted from the research will be shared between LifeCEll and SRMC & RI.
“A complete floor of the new seven-storied building of SRMC will be dedicated for stem cell research,” said Dr. Krishna. G. Sheshadri, vice president, Sri Ramachandra Health International.
“Toxicological studies have been completed by LifeCell and plans are to enter into phase 2 studies, without conducting phase 1 study,” said S. Abhayakumar, CEO, Asia CRYO-CELL Pvt. Ltd.
LifeCell will have an investment layout of around Rs.50 crore over the next three years on stem cell banking research and therapy. The company is in talks with other leading players to initiate an association of all agencies working on cord blood cells to ensure a healthy growth of the industry. The company plans to bring in clinical trials on stem cell based therapies and manufacturing partnership to the country.
Life Cell, the service provided by Asia CRYO-CELL Pvt. Ltd., is now focusing on umbilical cord stem cell banking to India. SRMC is a tertiary care multi-speciality university hospital, which also concentrates on research works.