150crore stem cell center
A Rs 150-crore Stem Cells Research and Therapy Centre will come up in Hyderabad, to harness the big potential offered by stem cells in finding cures to major diseases.
The Vice-President, Mr Mohammed Hamid Ansari, would lay the foundation for the proposed facilities that are to come up on a 5-acre land on the outskirts of the city.
The Centre for Stem Cells Sciences (CSCS), which is promoting the project, will infuse Rs 40 crore in the first phase, which is expected to see the construction of a 200-bed multi-specialty hospital and a research and development centre.
Three phases
The entire project will be executed in three phases. “While the funds for the first phase would be equity from the promoters, in the later development phases, we are open to venture capital funds and joint ventures,” said Mr K. Krishnam Raju, Chairman and Managing Director of Krisani Wealth Management, Promoter and Director of CSCS.
The venture has no clear revenue model at present and is intent on establishing strengths in R&D and creating hospital facilities.
The focus of research and therapy would include liver, pancreas, treatment of neurological, cardiological disorders, ailments related to bone and cartilage etc., using stem cells, said Dr C.M. Habibullah, a gastroenterologist and liver researcher.
Dr Habibullah and his family, including a gastroenterologist (son), Dr Mohammed Aejaz Habeeb, and neurosurgeon (son-in-law), Dr Syed Ameer Basha Paspala, and Mr D.V. Sai Prasad, are the promoters of this initiative.
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