Indian billionaire Ravi Jaipuria- led Cryoviva International is planning to set up its umbilical cord blood storage centres to Brunei, Indonesia and the Philippines and aims to go public in 2017-18.
“We are planning to set up cord blood/stem cell banks in Brunei, Indonesia and the Philippines,” said T Chandroo, who is 30 per cent shareholder in the Singapore-based Cryoviva International.
Jaipuria leads with 70 per cent share in the company which processes cord blood into stem cells.
“We believe that in the next 10 years of research work, there will be more new discoveries on the use of cord blood and more cures will be found for blood related ailment with the use of stem cells,” he said.
The public offer will include Jaipuria’s Cryobank in India, which is the biggest operation for cord blood/stem cell storage for the group, according to Chandroo.
The blood is processed and stored as stem cell for 25 years for curing blood-related ailment, said Dr Chandroo, also chairman of the Modern Montessori International School (MMI), another partnership with Jaipuria with centres established for pre-schoolers and training of teachers in India.