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Cryo-Save India to launch human adipose tissue stem cells storage services - Biotechnology
Cryo-Save India to launch human adipose tissue stem cells storage services
Monday, August 17, 2009 08:00 IST
Gireesh Babu, Mumbai
Cryo-Save India Pvt Ltd, the wholly-owned subsidiary of the Belgium-based adult stem cell storage bank major Cryo-Save Group, is exploring options to launch services to collect and store stem cells from human adipose tissues after liposuction as a potential aid to treating diseases.
The Indian launch will be in line with the parent company's global launch of the new service by the end of 2009, according to V R Chandramouli, managing director, Cryo-Save India. The Cryo-Save, Europe's largest adult stem cell storage bank, is developing a technique called Cryo-Lip to retrieve, process and store mesenchymal stem cells (MSC) from fatty tissue, which is now considered as a waste after liposuction.
"Once the global launch takes place, we will approach the Drug Controller General of India for approval to collect, process and store the stem cells from fat. The launch in India will be held only after considering and getting approval based on all the existing norms and rules in the country," said Chandramouli.
"We expect that the new source of collecting adult stem cells will give us a tremendous opportunity for stem cell therapy in future," he added. However, the company is yet to reach the stage of deciding the technology package for the service. Cryo-Lip would be the first commercially available method for adults to store their stem cells.
Cryo-Save India, poised to be the Asia-Pacific Headquarters of the Dutch firm and the R&D hub handling advanced level of research, clinical trials and therapy development, is currently focusing on establishing its stem cell banking services in the country. The company expects to become self- sustainable in revenues through banking services through its collection centres in eight cities within nine to 12 months. After this, the company will initiate the R&D services, said Chandramouli.
In addition to the facility built up in Bangalore with an investment of Euros two million (around Rs 13 crore) at the time of launching Indian operations, the company will infuse additional fund of nearly Rs 2.5 crore in near future to prepare the facility fully equipped for R&D and therapy services. At present, the Bangalore facility in an area of 10000 sq ft has the capacity to store 300000 cases. The company has arrangement with 150 hospitals for collection of cord blood and tie up with six hospitals for research across the country.
The company is also planning to impose charges for storage of cord lining cells from the customers from September 2009. The collection, processing and storage of the cord lining cells for preservation of MSC are currently provided as a free of charge service to the customers. Cryo-Save India, which occupies almost 10 per cent of the Indian market share is expected to reach 20 to 25 per cent market share in next six months and to be the leader in stem cell banking services industry by next year, said Chandramouli.
Cryo-Save India to launch human adipose tissue stem cells storage services
Monday, August 17, 2009 08:00 IST
Gireesh Babu, Mumbai
Cryo-Save India Pvt Ltd, the wholly-owned subsidiary of the Belgium-based adult stem cell storage bank major Cryo-Save Group, is exploring options to launch services to collect and store stem cells from human adipose tissues after liposuction as a potential aid to treating diseases.
The Indian launch will be in line with the parent company's global launch of the new service by the end of 2009, according to V R Chandramouli, managing director, Cryo-Save India. The Cryo-Save, Europe's largest adult stem cell storage bank, is developing a technique called Cryo-Lip to retrieve, process and store mesenchymal stem cells (MSC) from fatty tissue, which is now considered as a waste after liposuction.
"Once the global launch takes place, we will approach the Drug Controller General of India for approval to collect, process and store the stem cells from fat. The launch in India will be held only after considering and getting approval based on all the existing norms and rules in the country," said Chandramouli.
"We expect that the new source of collecting adult stem cells will give us a tremendous opportunity for stem cell therapy in future," he added. However, the company is yet to reach the stage of deciding the technology package for the service. Cryo-Lip would be the first commercially available method for adults to store their stem cells.
Cryo-Save India, poised to be the Asia-Pacific Headquarters of the Dutch firm and the R&D hub handling advanced level of research, clinical trials and therapy development, is currently focusing on establishing its stem cell banking services in the country. The company expects to become self- sustainable in revenues through banking services through its collection centres in eight cities within nine to 12 months. After this, the company will initiate the R&D services, said Chandramouli.
In addition to the facility built up in Bangalore with an investment of Euros two million (around Rs 13 crore) at the time of launching Indian operations, the company will infuse additional fund of nearly Rs 2.5 crore in near future to prepare the facility fully equipped for R&D and therapy services. At present, the Bangalore facility in an area of 10000 sq ft has the capacity to store 300000 cases. The company has arrangement with 150 hospitals for collection of cord blood and tie up with six hospitals for research across the country.
The company is also planning to impose charges for storage of cord lining cells from the customers from September 2009. The collection, processing and storage of the cord lining cells for preservation of MSC are currently provided as a free of charge service to the customers. Cryo-Save India, which occupies almost 10 per cent of the Indian market share is expected to reach 20 to 25 per cent market share in next six months and to be the leader in stem cell banking services industry by next year, said Chandramouli.
