Chennai, July 27:

LifeCell, Indias largest umbilical cord blood stem cell bank, is setting up a public stem cell bank at a cost of 30 crore.

LifeCells Managing Director, Mayur Abhaya, announced the plans for the public facility being set up by LifeCell Foundation, a non profit organisation, at a function to mark the storage of 100,000 units of cord blood at its private banking facility.

At the function, LifeCells brand ambassador Aishwarya Rai Bachchan said cord blood banking is a simple and precious gift parents can make for their childrens well being. Once people are aware of the potential of stem cells in treating ailments, the decision to opt for cord blood banking is a no brainer.

Abhaya said LifeCell has contributed 10 crore; and R Thyagarajan, Chairman, LifeCell and founder of the ShriramGroup; S Abhaya Kumar, Vice-Chairman; and another donor whose name has not been disclosed, have contributed 2.5 crore each. In the private bank, parents can store the umbilical cord blood and cord tissue collected at the time of childbirth which can be used if the child or siblings need the cells for treatment at a later stage in life, Abhaya said.

Stem cells can be used to treat over 80 disorders.

Parents pay to get the cord blood stored in the private bank.

A public cord blood bank works much like a blood bank where donors allow the cord blood to be collected for use by those needing stem cells for treatment.

The cord blood will be stored at LifeCells own internationally recognised facility in Chennai where there is adequate capacity, he said.

(This article was published on July 27, 2014)

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LifeCell setting up 30-cr public stem cell bank