LifeCell International has announced the launch of umbilical cord tissue banking service in India, today.
The technology aims to exploit the potential of umbilical cord tissue, a rich source of Mesenchymal stem cells. The technology was developed in-house at the LifeCell R&D center at Chennai, India.
LifeCell has achieved a significant technology landmark in the field of Regenerative science and healthcare industry in India.
Mesenchymal Stem Cells (MSCs) from bone marrow have been at the forefront of therapeutic strategies for a number of hitherto incurable ailments like Heart Disease, Type I Diabetes, Crohns Disease, GVHD, Osteoarthritis and Stroke.
Further, MSCs from Cord tissue showed additional therapeutic potential in animal models to treat Parkinsonism, Skeletal muscle injury, Limb ischemia, Retinal nerve degeneration. Hence, these cord tissue MSCs appear to be superior to bone marrow MSCs and can be a potential substitute for them.
Mayur Abhaya, President and Executive Director, LifeCell International, said, "We at LifeCell are very excited about this landmark achievement that we have made at our R&D center, by developing the technology to harvest and store Umbilical Cord Tissue in India. With additional service of cord tissue banking, , clinical trials, R&D, therapy solutions we are the only company in India providing comprehensive stem cells solutions. This will give us a competitive edge to tap the potential market. In a country like India with over 40 million births every year, the potential is immense and we see a huge opportunity ahead. We envision a 30% percent growth in our enrolments by 2010. Our revenue for this year is expected to close by Rs.400 Million."
Dr. Ajit, Chief Scientific Officer, LifeCell International, added, "Previously, after the collection of the umbilical cord blood, the remaining solid cord tissue was normally discarded. However, this cord tissue is a rich source of Mesenchymal stem cells (MSCs) and we have invested two years of time in developing and validating a proprietary technology at our in-house R&D center for collection and storage of the cord tissue. These MSCs from cord tissue are superior to bone marrow MSCs, as these cells are fetal in nature and therefore more robust. Besides, the collection process is non invasive, painless and usually devoid of infection."
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