CryoStemcells (Karnataka) Pvt Ltd is investing around Rs 3 crore to expand its operations across India which includes a stem cell bank in Mumbai and a chain of stem cell clinics across India.
In the first stage, the company will invest in setting up an exclusive allogenic umbilical cord blood stem cell bank in Mumbai. The lab space of 1,000 sq. ft has already been acquired and banking activities will start by April 2008. This bank is being designed to seek the accreditation from the American Association of Blood Banks.
The company will invest 51 per cent and the remaining 49 per cent will be raised from the medical fraternity who are keen on going in adopting stem cell therapies.
For the last five years, CryoStemcells has been engaged in the autologous stem cell banking services and its entry into allogenic cord blood stem cells is a strategic business move. This facility will offer allogenic stem cells for bone marrow transplant procedures which is on the rise in the country, Dr.S.G.A.Rao, chairman and managing director, CryoStemcell (Karnataka) Pvt Ltd. told Pharmabiz.
Bone marrow transplant is a challenge in India. It is done for several conditions including hereditary blood diseases, hereditary metabolic diseases, hereditary immune deficiencies and various forms of cancer. With the shortage of the healthy donors and with families going smaller in number, it is difficult to get related donors. CryoStemcells will fit the bill, added Dr Rao.
In the last four years, the company has been engaged in several autologous stem cell trials. It has successfully completed human studies for Ischaemic Limb (Beurger's Disease) Liver Cirrhosis and Myocardial Infarction. It is now carrying out trials in Osteoarthritis with Amarnath Hospital at Vijayawada. The Institutional Ethics Committee has approved trials for spinal cord injuries which will commence soon at the Sita Bhateja Specialty Hospital, Bangalore.
In a bid to expand the use of clinical grade stem cells for therapeutic purposes, Cryo is in talks with Isha Diagnostics in Bangalore to start stem cell clinics across the country beginning with Bangalore. Isha Diagnostics specializes in Interventional Radiology (IR), which is a subspecialty of radiology in which both vascular and nonvascular diseases are treated by minimally invasive approaches using small catheters and catheter-based instruments. "Our association with Isha will be to deliver stem cells through IR method where stem cells will be infused into the artery to be delivered to the targeted diseased region", explained Dr Rao.
After opening the stem cell clinic in Bangalore, Cryo plans to establish these specialty stem cell clinics in Mumbai, New Delhi, Chennai and Kolkata.