Stem cell bank Cordlife will expand its operations to about 40 locations in Tier II cities across the country with an investment of Rs 35 crore, according to its managing director Meghnath Roy Chowdhury.
It will also launch campaigns targeting to-be parents to enroll them as members, he said.
The company has collected a couple of thousand cord blood samples in India and about 35,000 across Singapore, Hong Kong, Indonesia and Philippines. It has collected Rs 75,000 for preserving the blood sample for 18 years from each member. It also allows payment in equated monthly installments of about Rs 1,800 per month. Its Kolkata facility has a capacity to store about 2,00,000 samples.
Cordlife would take the responsibility of delivering cord blood at any location when needed for regenerative or other therapies. It is also roping in hospitals to collect cord blood, Chowdhury told Business Standard.
The company has far released about 100 samples for stem cell transplants and applications, including for a case of cerebral palsy.