Bennett, Coleman and Company Limited (BCCL), one of the major media conglomerate in the country, has taken a stake in LifeCell, the pioneers in India for stem cell banking, research and therapy.

The talks for the transaction of stake were on for the past several weeks, which has been finalised by the end of December, according to LifeCell sources. However, they refused to reveal the percentage of stake handed over to the BCCL.

"We understand that the Times of India group was in search of a potential area for investment and have realised the strength and possibilities of stem cell banking, research and therapy," Prasad Mangipudi, vice president, marketing, LifeCell told Pharmabiz. He added that the participation of BCCL would catapult the growth of the already fast growing LifeCell to expand its activities in a wider area.

V R Chandramouli, chief executive officer, LifeCell said, "LifeCell is India's first family cord blood bank to bring the revolutionary medical breakthrough of umbilical cord stem cell banking to the country. With the launch of India's First Exclusive Stem Cell Transplant Centre in Chennai and our plans to foray into public banking shortly, we would be the only integrated stem cell company. We aim to become Asia's biggest player within 3 years and Times Group's investment would reinforce our confidence in the company's future." He added that the company is also planning to bring in clinical trials based on stem cell therapies and manufacturing partnership to the country eventually.

Launched in November 2004, LifeCell has a state-of-the-art stem cell processing and banking facility near Chennai as per the standards of American Association of Blood Banks and US FDA. The company, at present, has 21 marketing and collection centres all across India. The company has recently forayed into international markets with the launch of its Dubai operations and will soon expand presence to Malaysia, Saudi Arabia, Sri Lanka, Singapore and Pakistan, added the company sources.