Manipal Health sets up arm for stem cell research

Manipal Health Systems (MHS), the healthcare arm of the Manipal Group, has set up a subsidiary, Stempeutics Research Pvt Ltd, for stem cell research.

MHS will invest Rs 45 crore in this project. In the past one year, it has invested Rs 20 crore in the project and is expected to invest a further Rs 25 crore in the coming year.

The cell therapies should be available "off the shelf" by 2008-09 across the country's tertiary hospitals subject to approval from the regulatory authorities, said Satish Totey, chief scientific officer, Stempeutics.

Stempeutics will pursue therapies in the cells drawn from an adult's bone marrow. A team of 32, including researchers and clinicians, will be part of the firm. Of these, there are 11 PhDs, 7 of them from the US.

The Manipal Group has also started a department of regenerative medicine, with an intake of 25 postgraduate students and 10 PhDs. Some of these students may be absorbed into Stempeutics, said Totey.

The stem cell therapy, which costs $70,000 to $75,000 in the US, is available in India for just one-third of the price. This is expected to come down further over time, said R Basil, managing director and CEO, MHS.

"This is because the drugs are expensive and the cost of imported reagents is high," Basil said.