- March 14, 2014
-- ReeLabs, trusted and leading producers of stem cells based in Mumbai, are now setting their sights for Karnataka to expand its business operations. The company is looking forward to invest around Rs 50 Crore to establish the research facilities and a dedicated stem cell hospital at Karnataka.
India is fast becoming one of the largest sources for umbilical blood cord, a potential source for stem cells. The stem cells can be used extensively in the treatment of over 100 diseases. The stem cell industry in India is booming at a phenomenal pace with 30 per cent growth rate per annum. ReeLabs is committed to transform this concept of stem cells into a revolution in the field of medicine and scientific research. ReeLabs produces stem cells that are completely safe, non-toxic and easy to administer with no side-effects.
Dr Rohit Kulkarni, director of ReeLabs announced, “We are looking at setting up a world-class stem cell laboratory near Bangalore with an initial investment of around Rs.20 crore by March-end 2015. We will require approximately 20,000 sq. ft. area for the same. The proposed laboratory will have the capacity to store 2 lakh stem cells at a time. We also want to set up a dedicated stem cell therapy hospital close to the laboratory with an additional investment of about Rs.20 crore. The balance of about Rs.10 crore would be spent on development of other facilities, relating to the therapy. Over next 12-15 months, ReeLabs is looking at appointing up to 150 skilled workforces in Karnataka.”