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Apollo Hospitals in MoU with StemCyte
 
01-March-2009
Source: The Hindu Online Edition

NEW DELHI: Private healthcare chain, Apollo Hospitals, has signed a memorandum of understanding with US-based life sciences company StemCyte Inc for setting up cord blood bank facility in Ahmedabad.

"This is envisaged to be the largest for public and private cord blood collection in India,'' a statement issued by industry body CII said.

Cord blood is the blood collected from the umbilical cord at the time of childbirth, after the cord has been detached from the newborn. It is used for various types of stem cell therapies.

Their collaboration will also provide stem cell therapies to treat patients with certain disorders and other immune deficiency disease, it added.

Both the companies are also looking at a joint venture for conducting clinical studies to develop cell therapies for disease such as Parkinson's, Alzheimer's, Spinal Cord injuries, CII said. - PTI

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