"The cutting edge technique, which is revolutionising treatment of at least 75 ailments worldwide, will be available in 14 centres in the country by March 2006 and in 24 by 2007," Kumar said.
The cord blood taken from children born at a number of private hospitals, with whom the company has tied up, would be processed and the stem cells (master cells that produce all mature cells in the blood and immune system) separated and cryopreserved at minus 190 degrees celsius at the Chennai-based centre.
These cells can be used any time during the growing up phase of the individual to cure at least 70 diseases including chronic leukaemia, plastic anaemia, Non-Hodkin's lymphoma, thalassaemia and renal cell cancer.
Cryo-Cell currently has collection centres in Chennai, Hyderabad, Bangalore, Ahmedabad, Mumbai, New Delhi and Kolkata.
Kumar said the company, which has a technology tie-up with Cryo-Cell International, USA, is also planning to launch its operations in SAARC countries, Singapore, Malaysia, Dubai and Sri Lanka.
Altogether 1000 women had enrolled for cord blood collection of their children till now and going by the massive spurt in demand, the company expects to cross the 15000 mark by next year, Kumar said.
"The Chennai processing and banking facility built with an investment of Rs 14 crore (Rs 140 million) has a capacity to store over one lakh stem cell samples. The estimates are that India could go up to 1000 collections a day. So we are fully equipped to take on the challenge," he said.
Having carried out 20 successful transplants to cure patients in hospitals like Tata Memorial, Apollo, Chennai and AIIMS, the company was now working towards a stem cell transplant facility in collaboration with Sri Ramchandra
Medical College and Research Institute in Chennai by end 2006, he said. The one-time cost of stem cell preservation would be Rs 59,000, which includes registration, processing and maintenance for 21 years.
Alternatively, parents can pay Rs 27,000 for registration and processing and a storage fee of Rs 2,900 per year for as many years as they wish to continue, Kumar added.