MUMBAI – Dutch Stem cell co Cryo-Save plans expansion

(Stem Cells News image)

CRYO-SAVE Group, the Netherlands-based stem cell company with a large Indian presence, plans to increase the number of stem cell donors
in the country by opening more representative offices. The company expects this would increase the number of clients and also extend its reach beyond the current five cities, group CEO Rob Koremans told ET.

Cryo-Save Group plans to invest e 2 million (about Rs 13 crore) in its Bangalore-based subsidiary for over three years.

“Currently, we are operating in Delhi, Mumbai, Pune
, Ahmedabad and Bangalore. Our lab and research facility is in Bangalore. By the end of the year, we plan to open three additional centres, of which one will be in Kolkata. We want to concentrate on India and make this operation successful. We plan to expand into other South Asian countries by end of 2010,” Mr Koremans added.

Cryo-Save Group focuses on saving umbilical cords post deliveries for stem cell research that can be used to assist in curing medical problems of the same families in later years. Cryo-Save currently charges Rs 75,000 per person to save a child’s umbilical cord blood and stem cells. This includes collection, processing and storing the cells for about 21 years.

from The Economic Times

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