MUMBAI: Stempeutics Research, backed by Ranjan Pai’s Manipal Education and Medical Group (MEMG) has signed an agreement to raise ₹95 crore from Bengaluru-based Kemwell Biopharma, for global commercialization of its stem cell product Stempeucel. Stempeutics is a late stage life sciences firm that develops and markets therapeutic products based on adult stem cells in India. Under the strategic partnership, Stempeutics would develop a manufacturing facility at Kemwell’s facility in Bengaluru for contract manufacturing of its cell therapy products. “Presently we have a manufacturing facility in Manipal, which will move to Kemwell’s Bengaluru plant in Nelamangala in the first half of 2020. “The idea is to create a global facility since we are trying to globalize our stem cell product and it is very critical because in stem cell research, process is the product.

Source: Mint July 23, 2019 19:07 UTC