LifeCell India to enter South East Asia market
Kolkata, Jun 21 (UNI) In a bid to become the largest private cord blood bank in Asia, LifeCell India, in collaboration with CRYO-CELL International of USA, will set foot in new markets like Malayasia, Colombo, Kuala Lumpur, Singapur and Thailand.
Speaking to UNI, LifeCell CEO V R Chandramouli today said,''We are setting up a cord blood bank in Malaysia soon with a local partner.'' In Colombo, Kuala Lumpur, Singapur and Thailand, the company would open regional centres.
Globally the demand of stem cell treatment is huge, he said adding that internationally four lakh umblical cords have been stored out of which 1,40,000 is stored by LifeCell. The company has a total global market share of 35 per cent.
''Middle East is also a growing market and we are setting up a collection centre in that part of the world as well,'' he said.
Stem cell therapy is the latest cutting-edge technology in the field of medical science research. Among the various stem cell options available for providing treatment to a vast number of diseases like Diabetes, Leukemeia, spinal cord therapy, Thalasemia, umbilical cord blood stem cells hold great promise.
LifeCell would invest Rs 40 crores to Rs 50 crores over the next 2-3 years on stem cell banking, research and therapy, he said.
Umbilical Cord Stem Cell Banking was now in India. LifeCell, in collaboration with CRYO-CELL International, facilitates the cryogenic preservation of stem cells at its facility in Tamil Nadu.
A baby's umbilical cord, which is usually cut at the time of delivery and discarded - is a rich source of Stem Cells. Stem Cells have the unique ability to regenerate/ reproduce into over 200 types of tissues.
LifeCell and Sri Ramachandra Medical College and Research Institute (SRMC&RI), a deemed university, have jointly set up an exclusive stem cell transplant centre in Chennai. The centre will initially focus on haematological and oncological ailments and expand to other areas in a phased manner.
The centre would start therapy after the clinical study is completed and the Centre gives a formal approval. ''Though stem cell treatment is popular in the US, the concept is new in India. There are certain guidelines which we need to follow and get approval from the Union government,'' Mr Chandramouli added.
LifeCell has also enrolled 7,000 expectant parents for banking cord blood stem cells in first three year of operations.
Launched in November 2004, LifeCell has a family cord blood bank while they have a public bank where people donate umbilical cord on voluntary basis.