Hyderabad: The State capital, which is emerging as the knowledge capital of the world’s life sciences industry, has grabbed another big ticket investment in the sector. US-based StemCures is slated to establish a manufacturing lab in Telangana that will focus on stem cell therapy with the vision to create the largest stem cell manufacturing plant in India.
The facility will be set up with the investment potential of around US$ 54 million and employment potential for around 150 people in a couple of phases.
The announcement was made after Dr. Sairam Atluri, Founder, StemCures met with Minister KT Rama rao in Boston, USA. The objective of the proposed plant is to capitalize on the latest technology and expertise from the US to manufacture the highest quality and affordable stem cell products for treating various serious medical conditions.
“I am delighted to welcome StemCures to Hydera bad Stem cell therapy is a promising new treatment for a variety of conditions, and I am confident that StemCures will provide high-quality care to patients in India. I look forward to working with the clinic to make stem cell therapy more accessible to patients in India,” the Minister said.
“It is so heartening to see Hyderabad, my hometown, transforming into a vibrant hub for medical innovations. Setting up an R&D facility was seamless and now we are looking forward to expanding with the manufacturing plant. I sincerely thank Minister KT Rama Rao along with his team for their expediency and encouragement,” Dr. Atluri said.
Currently, StemCures is culminating R&D of the stem cell line at Aspire Bionest in University of Hyderabad and is ready to embark on a Phase 1 manufacturing lab. Hyderabad already serves more than 1000 life sciences companies, including the top 10 pharma companies. Four of the top 10 global innovator companies now have a direct presence in Hyderabad through their dedicated centres. These centres drive core R&D, digital and engineering activities, thereby contributing to bringing lifesaving cost-effective therapies and devices to patients world-wide.
StemCures is a medical clinic in Ohio that specializes in stem cell therapy. It is a FDA-compliant clinic that uses only the highest quality stem cells.
Jayesh Ranjan, Principal Secretary (Industries and Commerce) and Shakthi M Nagappan, CEO, Telangana Lifesciences were present.
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