Stem Cell Bank To Open In The Bahamas

Bahamas seems set to have its first stem cell laboratory and cell banking facility.

The country’s National Stem Cell Ethics Committee (NSCEC) has given provisional approval status for Med Cell Bahamas Ltd. to build a stem cell Good Manufacturing Practice (GMP) laboratory and conduct stem cell research and therapies in the Bahamas.

The approval was granted in accordance with the Stem Cell Research and Therapy Act 2013 and Regulation 2014.

Med Cell Bahamas said the lab and cell banking facility will enable an international client base to store their own stem cells from fat tissue and use them for therapies in regenerative medicine. Initial treatment will focus mainly on osteoarthritis.

“We are delighted to receive provisional approval and plan to work together with the government and local institutions to bring our technology to this market,” said Peter Kellner, Chief Executive Officer of Med Cell Bahamas Ltd.

Intensive research and observational studies on osteoarthritis will take place in the new lab, in the ongoing development of secure and efficient processes for the treatment with adult stem cells and their cryopreservation.

The company plans an initial investment of $4 million for laboratory and storage equipment and will be recruiting seven to 10 employees. A statement from the company added that it plans to have a significant role in the future of Bahamian stem cell advancements.

Med Cell Bahamas said it will welcome collaboration with universities and research organisations and will also be engaged in biotech technology courses for local and regional students.

The company is a worldwide leader in stem cell isolation, storage (cryopreservation) and has 10 years of experience in therapies with stem cells and their secretomes. More than 350 patients have successfully been treated using Med Cell Bahamas’ patented technology.

Read more: http://www.caribbean360.com/news/stem-cell-banking-opening-bahamas#ixzz4ISQHdcnT

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