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Mumbai | December 29, 2005 7:49:10 PM IST

Florida-based stem cell research and therapy concern Saneron CCEL Therapeutics Inc, would invest Rs 60 crore over two years to launch its Indian arm for stem cell banking, research and therapy in the country.

Saneron has tied up with the Chennai-based Life Cell for the purpose.

Announcing the launch of Saneron India, Chairman S Abhaya Kumar said the first year will see an investment of around Rs 40 crore and the remaining will be made in the subsequent year.

Clinical trials would be held jointly by Saneron India and Saneron Asia in collaboration with the Tzu Chi General Hospital in Taiwan.

The trials will begin early next year in India and Taiwan.

They would focus on Amyotrophic Lateral Sclerosis (ALS) and stroke patients, who will initially be treated in India and later on in Taiwan. The first trial for ALS is designed to evaluate the safety and efficacy of potential treatments in order to bring new and effective therapies to market.

Mr Kumar said Saneron India will begin accepting patients in mid-2006 at its stem cell centre in Chennai and will work closely with Life Cell.

Life Cell vice president (Marketing) Prasad Mangipudi expressed happiness at the tie-up and expressed hope that it would pave way for better research in the field of stem cells.

At present Life Cell has seven centres in the country and another five will be set up by this month.