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After umbilical cord blood, the based LifeCell International is planning to save the umbilical cord tissue that is routinely discarded along with the placenta once a baby is delivered.
The cord tissue and cord blood are rich sources of stem cells.
LifeCell, which is into private banking, will start collecting umbilical cord tissue in the near future. It already collects and stores cord blood for private banking.
After a baby is delivered, the cord is first clamped before it is cut. Cord blood is collected and then the umbilical cord tissue is cut from the placenta to just above
Chennai-based LifeCell International, India’s largest umbilical cord stem cell bank is looking at raising funds for its new venture public stem cell banking. The company said the funds will be used for infrastructure, expansion and marketing.
The public stem cell banking—which will allow anyone to receive stem cells that match their requirements from a storage facility—is being implemented through LifeCell Foundation, a non-profit venture.
LifeCell has already raised Rs 18 crore. Of this, Shriram group chairman R Thiagarajan, one of the promoters of LifeCell, has contributed Rs 2.5 crore and Mayur Abhaya, MD & CEO of LifeCell, has given 2.5 crore