BRS Group founder and chairman BR Shetty said that plans for the stem cell research company will likely be finalised in October
Abu Dhabi-based billionaire BR Shetty's BRS Group plans to launch a stem cell research company in Abu Dhabi, he said in an interview.
Stem cell therapy – also known as stromal vascular fraction cellular (SVFC) therapy – is a rapidly expanding set of medical technologies that restores cellular function by enabling the body to repair, replace and regenerate damaged, aging or diseased cells, tissues and organs.
The procedure can be used to significantly boost success rates for a wide variety of conditions, including pain management and neurologic, orthopaedic and cardiovascular issues.
In an interview with Arabian Business, Shetty revealed that the research company will focus on researching the production of human blood, kidneys and livers.
“I’m making a stem cell research company in Abu Dhabi. I have a partnership with an FDA [Food and Drug Administration] approved product from America,” he said. “I’m getting the technology here.”
Shetty added that he hopes the plans for the research company to be finalised in October.
“Then, in six or eight months, the product will be out,” he added. “Kidneys are the major thing, and the immunity [levels] will be very good, because rejection will not be there.
“It’s my giving back to the country and to the whole world,” he added.
No further details about the new stem cell research company were disclosed.
The project is being undertaken by BRS Group rather than NMC Healthcare - the UAE’s first private healthcare facility – which was founded by Shetty in 1974, just one year after arriving in the country. He remains as the group’s joint non-executive chairman after being replaced as CEO by then-deputy Prasanth Manghat in March 2017.
According to Shetty, NMC hopes to expand in the near future.
“We will expand in the whole region and wherever is possible, especially in Europe and America,” he said.
Stem cell research is gaining prominence in the UAE. In January 2019, for example, Dubai Healthcare City announced an increase in stem cell banking services with the opening of a CryoSave Arabia laboratory that can store a million samples.
In July 2018, Dubai’s first dedicated stem cell treatment facility was announced as part of a partnership between Emirates Hospital Jumeirah – an Emirates Healthcare Company – and ReGen Medical Management Dubai.
The opening followed more than 600 successful stem cell therapy treatments by ReGen Medical in the US.For all the latest health tips & news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.