Rama Krishna Sangem
US-based StemCures has decided to establish a manufacturing lab in Telangana, focusing on stem cell therapy with the vision to create the largest stem cell manufacturing plant in India. This comes as a big boost to Hyderabad which has already emerged as the bio sciences and vaccine making hub of India. This will also spur research and development in pharmaceutical industry here.
The facility will be set up with the investment potential of around US$ 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 with IT and Industries Minister KT Rama Rao in Boston, USA.
The objective of the proposed plant is to capitalize 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.
Hyderabad is emerging as the knowledge capital of the world’s life sciences industry with over 1000 life sciences companies, including the top 10 pharma companies. The proposed investment reaffirms the city’s position as a pharma and life sciences hub.
Welcoming the investment, Minister KT Rama Rao said, “I am delighted to welcome StemCures to 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.”
Rapid expansion of Pharma City and Genome Valley in Hyderabad have already made this city a destination for global bio sciences firms to set up their footprint here. The simplified process of getting permissions and availability of infrastructure facilities in Telangana is an added advantage to the industry leaders, said a city based pharma unit CEO