Med Cell Bahamas Ltd. has been given approval by The Bahamas National Stem Cell Ethics Committee (NSCEC) top conduct stem cell research and operate the country’s first ever stem cell research lab.
About five months ago, a Memorandum of Understanding (MOU) was signed between the University Of Miami Leonard M. Miller School of Medicine, the University of Miami Leonard M. Miller School of Medicine Interdisciplinary Stem Cell Institute, and the Bahamas Ministry of Health and the Public Hospitals Authority (PHA) to establish the framework for development of stem cell research and therapy, advancement in regenerative medicine in The Bahamas.
The approval however was granted in accordance with the Stem Cell Research & Therapy Act 2013 and Regulation 2014 of The Bahamas.
Executive Officer of Med Cell Bahamas Ltd. Peter Kellner the company will welcome collaboration with various universities and research organizations.
“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,” he said.
Med Cell Bahamas is not the only entity to have been interested in the modern medical approach.
Back in late 2014, international fashion mogul Peter Nygard had proposed the investment of more than $100 million into a stem cell medical facility in the country.
“The stem cell medical facility will allow The Bahamas to compete with countries like Thailand that is already the industry’s leader in stem cell research,” said Mr. Nygard.
“This is very good for The Bahamas, the whole country and for your health as Bahamians.”
An initial $4 million will be invested for the attainment of laboratory and storage equipment as well as the recruitment of seven to 10 employees.
Originally Switzerland-based, Med Cell Bahamas Ltd. is a worldwide leader in stem cell isolation, storage and has 10 years of experience in therapies with stem cells and over 350 successful patients. .