Nassau, Bahamas, August 18th, 2016 - The Bahamas National Stem Cell Ethics Committee (NSCEC) grants provisional approval status for Med Cell Bahamas Ltd. to conduct stem cell research and therapies.
Med Cell Bahamas Ltd. is pleased to announce that is has received provisional approval by the Regulatory Committee to build a stem cell GMP laboratory and conduct stem cell research and therapies in the Bahamas in accordance with the Stem Cell Research & Therapy Act 2013 and Regulation 2014 of The Bahamas.
"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”, Peter Kellner, Chief Executive Officer of Med Cell Bahamas Ltd. commented.
Med Cell Bahamas will be the first company to establish a laboratory and cell banking facility in the Bahamas, enabling 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.
Med Cell Bahamas is a worldwide leader in stem cell isolation, storage (cryopreservation) and has 10 years of experience in therapies with stem cells and their secretomes. Originally based in Switzerland, over 350 patients have successfully been treated using its patented technology.
In the new laboratory, intensive research and observational studies on Osteoarthritis will take place in the ongoing development of secure and efficient processes for the treatment with adult stem cells and their cryopreservation.
Dr. Steven Kellner, Senior Vice President International R & D of Med Cell Bahamas Ltd. explained: “Currently research & development is conducted on Insulin producing cells for Diabetes, Dopamine producing cells for Parkinson disease, Dendritic cells for anti cancer treatments and immunomodulation and Olfactory ensheathing cells for the therapy of spinal cord injury”.
The company welcomes the collaboration with universities and research organisations and will also be engaged in biotech technology courses for local and regional students.
The company plans an initial investment of 4 Mio. $ for laboratory & storage equipment and will be recruiting 7 to 10 employees and plans to have a significant role in the future of Bahamian stem cell advancements.
