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StemCyte announces Indian venture
March 2008
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ARCADIA, Calif.StemCyte Inc. has embarked on a joint venture in India with Apollo Hospitals and Cadila Pharmaceuticals. The company, StemCyte India Therapeutics Pvt. Ltd., will provide stem cell therapies derived from umbilical cord blood to treat patients with certain malignant blood disorders, including leukemia, lymphoma, myeloma; inherited disorders such as sickle cell anemia and thalassemia; and immune deficiencies.

Also, the joint venture, which will be headquartered in Ahmedabad, will participate in clinical studies to develop cell therapies for indications for which there are unmet clinical needs. Financial terms were not disclosed.

"The joint venture enables us to combine StemCyte's proven cell therapy products with Apollo and Cadila's expertise in the Indian healthcare market for the benefit of one of the largest patient populations in the world," says Kenneth J. Giacin, chairman and CEO of StemCyte. "Furthermore, StemCyte India Therapeutics is an important part of our global expansion strategy. We have one of the largest and most ethnically diverse supplies of umbilical cord blood stem cells. By continuing to build our inventory, we can bring our products to more patients worldwide."

"Our goal is to bring the best to India in the realm of life sciences," added Indravadan A Modi, chairman of Cadila Pharmaceuticals. "Research in stem cells and related areas will have a far-reaching impact on patient care in the future, and StemCyte's results have been very encouraging."

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