An innovative stem cell medical device 'Stempeutron' by the stem cell company Stempeutics Research will be launched in India by the middle of next year subject to regulatory approvals.
The device, which can obtain a population of cells collectively known as the stromal vascular fraction (SVF) from fat tissues, to be used for later treatment of osteoarthritis and diabetic foot ulcer to even breast augmentation surgery, is estimated to be priced at USD 50,000.
Advertisement"We plan to launch our novel device Stempeutron in India by middle of next year as soon as we get regulatory nod for it. It will be launched in multiple hospitals across the country before it goes global," said Stempeutics MD and CEO B N Manohar.
The company is looking for a strategic partner to globalize and market this device in India and outside.
The device will be launched first in India, followed by South East Asia and then Europe and US, he said, adding the estimated selling price of the consumables would be USD 1,000.
"We have already received go ahead from Cipla to either sell the product or to enter into a partnership with a big player to commercialize the device," said Manohar.
"As a country we are usually importer of medical devices. The development of this device is a big achievement for Stempeutics as it is first device to be developed indigenously based on a novel process and technology," said Manohar.
There is USD 30 billion treatment opportunity globally for SVF applications, which is multi potent therapy that has potential to meet significant medical needs.
The Bengaluru-based Stempeutics Research was founded by Manipal Education and Medical Group (MEMG) in 2006 and later entered into a strategic alliance with Cipla in 2009 and is now a JV firm. It develops stem cell based medicinal products, with facilities in Bangalore and Manipal as well as at Kuala Lumpur in Malaysia.