Dr Rohit Kulkarni, director, ReeLabs, said, "We are looking at setting up a world-class stem cell laboratory near Bangalore with an investment of about Rs 20 crore by the end of March 2015. We will require approximately 20,000 sq. ft. area for the same. The proposed laboratory will have the capacity to store 2 lakh stem cells at a time. Also, we want to set up a dedicated stem cell therapy hospital close to the laboratory with an additional investment of about Rs 20 crore. The balance of about Rs 10 crore would be spent on development of other facilities, relating to the therapy. Over next 12-15 months, ReeLabs is looking at appointing up to 150 skilled workforce in Karnataka."
"ReeLabs is the only stem cell company in India that currently offers stem cell banking, stem cell preservation and stem cell therapy under one roof," added Dr Rohit Kulkarni. ReeLabs is likely to go for an IPO within 5-7 years. Also, ReeLabs is planning an acquisition to enhace its capabilities and the reach.
Stem cells are undifferentiated or 'blank cells' found in an human body. These cells have the potential to develop into many different cell types that carry out various vital functions. With over 80,000 births a day, India is poised to be the largest source for umbilical cord blood, a major source of stem cells in the world. Umbilical cord blood is a sample of blood taken from a newborn baby's umbilical cord. It is a rich source of stem cells, which have been used in the treatment of around 100 diseases. Parents may choose to bank their newborn's cord blood against the possibility that it will be useful in the future, should the child or a related family member fall victim to a disease that is treatable by cord blood stem cells.
By 2020, the age of an average Indian is expected to be of 29 years as population of youth in India is expected to cross 50 crore. India is likely to become the world’s youngest country with over 64% of its population in 18-30 year age group by 2020. Thus; Indian stem cell industry, currently booming at about 30% growth rate per annum, is expected to grow at a phenomenal pace in the years to come.
