Despite arguments surrounding the ethics of stem cell research based on admittedly scarce research, a provisional approval status has been granted for Med Cell Bahamas Ltd. to conduct stem cell research and therapy with the view of building a laboratory in accordance with the Stem Cell Research & Therapy Act 2013 and Regulations 2014 of The Bahamas.
Okyanos Cell Therapy Director of Educational Relations Corina Froese told Guardian Business yesterday, "We are happy to see continued growth in the medical tourism and stem cell sectors of The Bahamas. As always, we appreciate the dedication of the National Stem Cell Ethics Committee (NSCEC) to ensuring providers in the field are held to a high standard of patient safety and care."
Previously, Okyanos Cell Therapy Patient Consultant Dr. Moira Dolan told Guardian Business that The Bahamas' National Stem Cell Ethics Committee ensures that stem cell therapy is being practiced at a high standard.
Med Cell is headquartered in Switzerland and has treated over 350 patients using its patented technology.
According to a press statement, the company plans an initial investment of $4 million for laboratory and storage equipment; it will be recruiting seven to 10 employees and plans to have a significant role in the future of Bahamian stem cell advancements.
"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," a statement said.
"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."
The Bahamas National Stem Cell Ethics Committee (NSCEC) granted the approval status to Med Cell Bahamas Ltd.
Chief Executive Officer of Med Cell Bahamas Ltd. Peter Kellner said "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."
Senior Vice President International R&D of Med Cell Bahamas Ltd. Dr. Steven Kellner added, "Currently research and development is conducted on insulin producing cells for diabetes, dopamine producing cells for Parkinson's disease, dendritic cells for anti-cancer treatments and immunomodulation and olfactory ensheathing cells for the therapy of spinal cord injury."
According to research, adult stem cells are a full-grown body's repair and regenerative mechanism. They are able to turn into replacement cells, make more of themselves and secrete healing substances specific to an injury or disease. There have been more than 200,000 works of published research, including clinical trials, on stem cells.
Further, there are more than 40,000 medical reports on mesenchymal stem cells alone -- the class of stem cells found in fat tissue -- and hundreds of clinical trials which support the reparative and regenerative effects of these cells and their use in the treatment of chronic, degenerative diseases.
Xian Smith, Guardian Business Reporter
Click here to read more at The Nassau Guardian
