US-based StemCures has decided to establish a manufacturing lab in Telangana focusing on stem cell therapy, and with a vision to create the largest stem cell manufacturing plant in India.
The facility will be set up with an investment potential of around $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 IT and Industries Minister K T 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 units of over 1,000 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 K T 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."
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