Rs 150cr stem cells centre to come up in Hyderabad

Hyderabad-based Centre for Stem Cells Sciences (CSCS) is setting up a stem cells research and therapy centre, entailing a cumulative investment of Rs 150 crore in three phases.

Vice-President Mohammed Hamid Ansari will lay the foundation stone for the proposed centre tomorrow.

"Stem cells research and therapy involves intensive research and huge capital outlay. We will be investing over Rs 40 crore in the first phase of the project, which will be mostly through equity. We intend to rope in venture capital firms to fund the second and third phases," CM Habibullah, chairman of CSCS, said here on Wednesday.

The Andhra Pradesh government has allotted five acres of land at Upparapalli near Rajendranagar in Hyderabad, where CSCS proposes to set up its research facility and a 200-bed hospital as part of the project.

"The first phase of the project is expected to be completed by March 2009. The additions during the first phase of extension will not only increase the physical infrastructure but also add to our existing facilities. The first phase will also see a large increase in the number of scientists, researchers and doctors in our organisation to 150, from the present 30," Habibullah added.