Cryobanks ushers in a new era in medicine in India

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New Delhi, Feb 3 (UNI) The day is not far when India will become a global hub for cure of malignant diseases such as diabetes, cancer, neurology and cardiac problems.

Courtesy, Cryobanks International India a joint venture (JV) between Cryobanks International Inc US and RJ Corp, who are investing in the relatively nascent field of regenerative medicine, comprising stem cell therapies and tissue engineering.

Cryobanks India, with an initial investment of Rs 25 crore, has stored more than 1000 stem cells in one year of operations.

The company, which has set up 14,000 square feet, state-of-the-art stem cell processing and banking facility in Gurgaon, follows 'Closed bag' collection method for harvesting cord blood stem cells that reduces the possibility of contamination of cord blood.

Stem cell therapy has become a mainstream practice in eye care with huge research in for other areas. ''Presently, this therapy can cure almost 75 diseases like thalassemia, blood cancer, parkinson etc,'' CEO Cryobanks International India, Dr C V Nerikar said.

The company has collaborated with almost all the big names in the medicine business in the country- Apollo Group of Hospitals, Fortis, Workhardt (Bangalore), Breach Candy (Mumbai) etc, Mr Nerikar added.

Interestingly, India is one of the few countries in the world pursuing stem cell research along with US, UK, Sweden, Canada, Australia, Singapore, Korea, Japan and Germany. ''India has the opportunity to be a global force in biotech and stem cell research can be an important constituent of this aspect,'' added Mr Nerikar.

UNI PDT GL HT1420

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