Apollo Hospitals Enterprise and StemCyte will together invest $15 million to set up a stem cell facility besides conducting research development activities at its Hyderabad centre. Stem cells can be sourced from umbilical cord blood and bone marrow and are used in medical therapies. They can be grown and transformed into specialised cells for future therapies.
Dr Pratap C Reddy, chairman, Apollo Hospitals Group was quoted as saying that it is a 50:50 joint venture and will carry out research in several areas including chronic stroke, spinal cord injury and muscular dystrophy.
While phase I involves $15 million, both companies would pump in capital as required. The upcoming facility, which will focus on stem cell culturing, trials and research, will be the fourth such unit for StemCyte. It currently has three facilities, one each in the US, Hong Kong and South Korea.
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