The cord blood banking market is an interesting market, as its rate of growth has slowed over the past couple years. When the market is assessed by the number of cord blood units stored, cord tissue units banked, and number of units transplanted, there are regions that are experiencing growth and regions in decline. In particular, cord blood markets are experiencing strong growth within Asia, are relatively flat within North America, and are in decline within Europe. Additionally, cord blood banks within Europe have been some of the most proactive banks to expand into other areas of stem cell storage.
Within India, there are now 15 private cord blood banks operating within the country. It is also a relatively is an early-stage market, as compared to other regions of the world. With a population of 1.25 billion, India has lower quantities of cord blood and cord tissue units stored on per capita basis.
Therefore, news released by Cesca Therapeutics today is interesting, as it suggests that there is continued investment into cord blood banking infrastructure within India. To learn more, read the full press release below from Cesca Therapeutics.
Or, learn more about cord blood banking markets within India by viewing our recent interview with Dr. Abhijit Bopardikar, Director of ReeLabs, a major stem cell company within India.
Cesca Therapeutics’ Indian Subsidiary Expands Cord Blood Banking Services To Additional Hospitals In The Fortis Healthcare Network
RANCHO CORDOVA, Calif., March 30, 2016 (GLOBE NEWSWIRE) — Cesca Therapeutics Inc. (NASDAQ:KOOL), an autologous cell-based regenerative medicine company, today announced that its wholly-owned subsidiary in India, TotipotentRX, has expanded its private cord blood banking services into several hospitals within the Fortis Healthcare network in South and West India.
TotipotentRX has collaborated with Fortis Healthcare since 2011 with an agreement to provide hematopoietic stem cell manufacturing and preservation services for therapeutic uses. TotipotentRX has also offered a private cord blood banking service to Fortis Healthcare hospitals, through the trade name NovaCordTM; however, since 2011 these services have been limited to North India. The expansion into South and West India is the first step towards offering NovaCordTM services in up to 45 hospitals in the greater Fortis Healthcare network in India. In addition, the TotipotentRX facility provides laboratory services and scientific support for stem cell (bone marrow) transplantation performed by the globally recognized hematology/oncology team at the Fortis Memorial Research Institute (FMRI) in the Gurgaon region of Delhi.
“This agreement further solidifies our partnership with Fortis Healthcare hospitals and we are very pleased to be a preferred partner for cord blood banking services, offering the highest standards in cell processing and quality control using our own patented AXP platform to achieve high stem cell recoveries,” said Dr. Venkatesh Ponemone, Executive Director and Director for Clinical Affairs at TotipotentRX. The NovaCordTM cord blood bank facility follows International FACT (Foundation for the Accreditation of Cellular Therapy) standards and National Drug Controller General of India (DCGI, the Indian equivalent of the FDA in the Unites States) guidelines.
Umbilical cord blood is a rich source of hematopoietic stem cells, which can be collected, concentrated and stored for later use in stem cell transplantation treatments for cancers, blood and bone marrow disorders and immune deficiencies, either for the child of the donor or another patient. With over 20 million births per year, this stem cell resource addresses a significant unmet need in India, which has a very small number of public cord blood banks serving a population of over 1.3 Billion people.
About Cesca Therapeutics Inc.
Cesca Therapeutics Inc. (www.cescatherapeutics.com) is engaged in the research, development, and commercialization of autologous cell-based therapies for use in regenerative medicine. The Company is a leader in the development and manufacture of automated blood and bone marrow processing systems that enable the separation, processing and preservation of cell and tissue therapy products. These include:
The SurgWerksTM Platform – proprietary, indication-specific stem cell therapy kits and associated devices, for use at the point-of-care in treating vascular and orthopedic diseases.
The CellWerksTM Platform – a proprietary stem cell laboratory system for processing target cells used in the treatments of oncological and hematological disorders.
The AutoXpress® Platform (AXP®) – a proprietary automated device with a companion sterile disposable bag set for concentrating hematopoietic stem cells from cord blood under functionally closed conditions.
The MarrowXpress® Platform (MXP®), a derivative product of the AXP and its accompanying disposable bag set, for isolating and concentrating stem cells from bone marrow.
The BioArchive® System, an automated system used by cord blood banks for the cryopreservation and storage of cord blood stem cell specimens for future use in approved regenerative medicine procedures.
Forward Looking Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. A more complete description of risks that could cause actual events to differ from the outcomes predicted by Cesca Therapeutics’ forward-looking statements is set forth under the caption “Risk Factors” in Cesca Therapeutics annual report on Form 10-K and other reports it files with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward-looking statements.
Cesca Therapeutics Inc.
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