Stemade Biotech, a company that has ushered in the innovative concept of dental stem cell banking in India, has decided to spread wings by setting up collection centres, labs and R&D centres abroad. The company, which has been receiving an overwhelming response to its stem cell banking systems in the last six months of its aggressive operations, is looking at Singapore, Australia, Malaysia and West Asia as possible destinations to set up operations, said Shailesh Gadre, founder and managing director, Stemade Biotech Private Limited.
Speaking to FE, he said: ?We have made an impressive debut on the dental stem cell banking area. We have processed over 350 stem cell samples so far in the last six months through our operations in six cities. We have set up a big lab in Chennai to process, store and preserve the dental stem cells and it is getting encouraging response from people across these cities.?
?Our key focus is to secure a family?s future and to be aware of a concept like Dental Stem Cell Banking. It is Stemade?s endeavour to take this concept to as many households as possible. We have an exclusive non-revocable licence of patented technology from Institut Clinident, France for dental stem cell banking in Asia and have set up state-of-art-dental stem cell processing and cryopreservation facilities at the LifeCell International lab – India?s largest cord blood bank,? Gadre said.
He added: ?We are looking at countries such as Singapore, Australia, West Asia, Malaysia, Thailand among other places to start operations, including setting up of huge labs to store and preserve stem cells, apart from R&D centres. Each such centre may cost anywhere between $8 to $10 million and we may tap private equity funds for these expansion. At least we will have a such facility in Singapore before March next year.?
Meanwhile, the company on Thursday entered into a strategic tie-up with Cholamandalam Distribution Services, a 100% subsidiary of Cholamandalam Investment and Finance Company Limited, to provide its customers with Bio-Insurance, as part of its initiative in providing a one-stop-shop for all financial needs. The two companies have signed an agreement of understanding to create awareness and promote the concept of Dental Stem Cell Banking in the country.