DCGI approves Regenerative Medical’s stem cell therapy for cartilage defects

Regenerative Medical Services said the DCGI recently approved its stem cell-based therapy Chondron to treat cartilage defects

Isha Trivedi
Updated12 Apr 2017, 09:11 PM IST
Regenerative Medical Services Pvt. Ltd has capacity to culture 1,000-1,200 patient samples annually, which it plans to enhance to 10,000-12,000 samples in next three years, chief scientific officer Satyen Sanghavi, said.
Regenerative Medical Services Pvt. Ltd has capacity to culture 1,000-1,200 patient samples annually, which it plans to enhance to 10,000-12,000 samples in next three years, chief scientific officer Satyen Sanghavi, said.

Mumbai: Regenerative Medical Services Pvt. Ltd on Wednesday said that the Drug Controller General of India (DCGI) recently approved its stem cell-based therapy to treat cartilage defects.

Chondron, its cartilage repair procedure, uses the body’s own cartilage cells that are cultured, multiplied and implanted into the patient’s damaged joint leading to new cartilage regeneration and avoiding the need for early joint replacement. This is the first stem cell-therapy product to be approved in India.

“We are creating new age cartilage regeneration procedure which optimizes the chances of healing due to the use of the body’s own cells. We will tie up with hospitals to promote it; we have received interest from around 200 hospitals,” chief executive officer and managing director Yash Sanghavi said.

The company has capacity to culture 1,000-1,200 patient samples annually, which it plans to enhance to 10,000-12,000 samples in next three years, chief scientific officer Satyen Sanghavi, said.

The Mumbai-based company, started in 2009, has invested around Rs70-75 crore on development of Chondron and conducted clinical trials on 350 patients. It is looking to raise funds for capacity expansion and marketing of the cell therapy.

“We are looking to raise Rs40-50 crore through equity dilution and have already appointed bankers,” Sanghavi said. The treatment, he said, is likely to cost around Rs2 lakh, which is almost the same or slightly lower than the price of a knee replacement surgery.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:12 Apr 2017, 09:11 PM IST
Business NewsScienceHealthDCGI approves Regenerative Medical’s stem cell therapy for cartilage defects

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel share price

    139.25
    03:59 PM | 13 NOV 2024
    -4.9 (-3.4%)

    Bharat Electronics share price

    281.45
    03:50 PM | 13 NOV 2024
    -8.8 (-3.03%)

    Tata Power share price

    399.05
    03:59 PM | 13 NOV 2024
    -15.2 (-3.67%)

    Tata Motors share price

    786.40
    03:59 PM | 13 NOV 2024
    1.45 (0.18%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Suzlon Energy share price

    54.08
    03:59 PM | 13 NOV 2024
    -5.31 (-8.94%)

    Rattanindia Enterprises share price

    62.59
    03:58 PM | 13 NOV 2024
    -5.36 (-7.89%)

    Gujarat Narmada Valley Fertilisers & Chemicals share price

    545.95
    03:44 PM | 13 NOV 2024
    -43.85 (-7.43%)

    Motilal Oswal Financial Services share price

    898.15
    03:58 PM | 13 NOV 2024
    -70.5 (-7.28%)
    More from Top Losers

    KNR Constructions share price

    307.80
    03:58 PM | 13 NOV 2024
    23.65 (8.32%)

    Suven Pharmaceuticals share price

    1,259.00
    03:29 PM | 13 NOV 2024
    55.25 (4.59%)

    Piramal Pharma share price

    259.70
    03:52 PM | 13 NOV 2024
    9.15 (3.65%)

    Medplus Health Services share price

    699.50
    03:29 PM | 13 NOV 2024
    23.85 (3.53%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      76,865.00-440.00
      Chennai
      76,871.00-440.00
      Delhi
      77,023.00-440.00
      Kolkata
      76,875.00-440.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      103.02/L0.10
      Chennai
      100.90/L0.10
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in Science

        HomeMarketsPremiumInstant LoanMint Shorts