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    Manipal Group Stempeutics, Kemwell strike deal worth Rs 95 crore for global commercialisation of Stempeucel

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-07-25T09:45:48+05:30  |  Updated On 25 July 2019 9:45 AM IST
    Manipal Group Stempeutics, Kemwell strike deal worth Rs 95 crore for global commercialisation of Stempeucel

    The funds will be utilized for achieving key regulatory milestones in the US, Europe and Japan, and for establishing a cGMP cell therapy manufacturing facility at Kemwell's plant in Bengaluru for contract manufacturing of cell therapy products, Stempeutics said in a statement.


    New Delhi: Manipal Education and Medical Group firm, Stempeutics Research, on Wednesday said it has entered into an alliance with Kemwell Biopharma for global commercialization of its stem cell product Stempeucel.


    Under the agreement, Kemwell will take a minority stake in Stempeutics and invest up to Rs 95 crore.


    The funds will be utilized for achieving key regulatory milestones in the US, Europe and Japan, and for establishing a cGMP cell therapy manufacturing facility at Kemwell's plant in Bengaluru for contract manufacturing of cell therapy products, Stempeutics said in a statement.


    "The synergistic combinations of Kemwell and Stempeutics will accelerate the development of novel stem cell-based products for patients and transform India into a global player in stem cell therapeutics," Manipal Education & Medical Group Chairman Ranjan Pai said.


    Stempeutics CEO BN Manohar further said, "with Kemwell's investments we plan to register for additional indications for Stempeucel, expand into the developed markets, and further develop our pipeline".


    Also Read: NPPA notices worth Rs 101 crore sent to Biocon, Lupin, Dr Reddys, others for skipping regulatory nod-Minister


    "We are happy to partner with Stempeutics because of their strength in developing innovative stem cell products starting from basic research, preclinical studies, large scale manufacturing and conducting multi-centre clinical studies meeting international standards," Kemwell Chairman and CEO Anurag Bagaria said.


    Founded in 2006, by Manipal Education and Medical Group (MEMG), Stempeutics had entered into an alliance with Cipla in 2009.


    Also Read: DCGI grants limited approval to market Stempeucel® product for treating Critical Limb Ischemia due to Buerger’s disease

    anurag bagariaBN ManoharCiplaglobal commercializationglobal marketingInvestmentKemwellkemwell Bengaluru plantKemwell BiopharmaKemwell dealManipal Educationmemgpharmapharma companypharma newspharma news indiaRanjan PaiStempeucelStempeutics dealStempeutics partnersTherapeutics
    Source : PTI

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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