Hyderabad, May (IANS) Hyderabad, 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 $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 state IT and Industries Minister K.T. Rama Rao in Boston.
The objective of the proposed plant is to capitalise 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, according to a statement from the Minister's office in Hyderabad.
"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," said KTR, as the minister is popularly known.
"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," 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 centers. These centers 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 specialises in stem cell therapy. It is a FDA-compliant clinic that uses only the highest quality stem cells. The clinic also has a team of experienced and knowledgeable physicians who can help patients make informed decisions about stem cell therapy.
Stem cell therapy is a non-surgical, minimally invasive procedure that uses the patient's own stem cells to treat a variety of conditions. Stem cells are undifferentiated cells that have the ability to become any type of cell. When injected into an injured or diseased area, stem cells can help to repair tissue, reduce inflammation, and promote healing.
Meanwhile, KTR also interacted with Nikki Haley, former UN Ambassador and Governor of South Carolina. He provided a comprehensive overview to Haley regarding the strategic significance of Hyderabad and Telangana in the broader framework of US-India relations.
Discussions encompassed various aspects, including the economy, elections, and a broad exchange of perspectives on politics. Minister KTR conveyed his best wishes to the former Governor as she runs for the office of the President of the US.