Times Group acquires stake in Lifecell

New Delhi, Jan 3: Bennett, Coleman and Company Ltd (BCCL) today said it has taken a stake in LifeCell, engaged in stem cell banking, research and therapy in India.

''LifeCell aims to become Asia's biggest player within three years and Times Group's investment would reinforce our confidence in the company's future,'' LifeCell Chief Executive Officer V R Chandramouli said.

LifeCell has a technology tie-up with US-based Cryo-Cell International (CCI). It has a stem cell processing and banking facility near Chennai conforming to the standards of American Association of Blood Banks and USFDA and currently has 21 marketing and collection centers across India.

''We are also planning to bring in clinical trials (on stem cell based therapies) and manufacturing partnership to the country,'' Mr Chandramouli further added.

The company recently forayed into international markets with the launch of its Dubai operations and will soon expand its presence in Malaysia, Saudi Arabia, Sri Lanka, Singapore and Pakistan.

UNI