Fortis ties up with TotipotentRX to set up stem cell centres

The centres will offer cellular therapies and will undertake stem cell clinical research procedures relating to diabetes, cancer, cardiovascular disease and neurological ischemia, Fortis Healthcare said in a filing to the Bombay Stock Exchange (BSE).

"This tie up allows Fortis to partner with the finest in the field of stem cell therapy and lead the way in this specialised new treatment modality, acknowledged to be at the cutting edge of modern medicine," Fortis Healthcare (India) Managing Director Shivinder Mohan Singh said.

TotipotentRX will also set up laboratories in select Fortis hospitals to process stem cells before transplanting them in the patients, the company said.

As part of the alliance, a stem cell medical board will be created to oversee the medical research programme, ensure execution and monitor the progress following international and Indian ethical guidelines, Fortis said.

The board will also impart training and create awareness about the benefits of stem cell therapy across India, it added.

Speaking on the collaboration TotipotentRX CEO Kenneth Harris said: "This collaboration allows us to carry out advanced clinical research, aimed at addressing quality of life improvements for several healthcare challenges in India."

TotipotentRX Cell Therapy is a subsidiary of TotipotentRX Corporation (MK Alliance Group company), a leading integrated regenerative medicine service and technology organisation headquartered in Los Angeles.

Stem cell therapy is widely recognised for its proven ability to repair and regenerate damaged and diseased organs and tissues, the company said.

Shares of Fortis Healthcare were trading at Rs 154.05 per share in the after noon trade on the BSE, up 0.88 per cent from its previous close.