25 February 2007
Apollo Hospitals Signs MoU For Stem Cell Treatment
Apollo Hospitals signed a Memorandum of Understanding (MoU) with US-based StemCyte.Inc on Wednesday to collaborate in the use of stem cell therapy in the treatment of patients with blood disorders such a leukemia.
According to the MoU, transplant physicians from Apollo will participate in the Fifth Annual International Cord Blood Transplantation Symposium sponsored by StemCyte in May. They will also undergo training in cord blood transplant through StemCyte’s training fellowship in either Taiwan or America.
Apollo will further have access to StemCyte’s inventory of over 26,000 cord blood units currently available worldwide, said Dr.Prathap C Reddy, executive chairman, Apollo, in a press release.
Cord blood is taken from the placenta and umbilical cord and is used as a source of stem cells for transplantation. Apollo is also exploring possibilities of creating a cord blood bank in the country which could set the corporate back by about $10 million, Dr.Reddy said.