Dr Abhijit Bopardikar, director, ReeLab
In a recent interview with BioSpectrum, Dr Abhijit Bopardikar, director, ReeLabs spoke on various issues including the controversy surrounding the industry, his company's operations, market opportunities, regulations among other things:
Q: How did the company come into existence and how are you doing now?
Dr Abhijit: The idea of founding the company happened over a cup of tea at the US club, Mumbai. Mr Sunil Popley, erstwhile promoter of Fem, was instrumental in funding part. While he was monetizing his stake in Dabur, he during the course of his market research, realized that the stem cells have a full potential to be a huge upcoming industry. Apart from him and myself, Dr Rohit Kulkarni who too was a doctor like me, was part of the founding team. All the things gelled and decided to initiate the company. In 2009, when we started the company, the major names in this space such as Lifecell in Chennai and Cryobanks in Gurgaon, were based out of Mumbai. We began with therapeutics and the learnt slowly on the regulations around the stem cells. We created stem cell bank named as ReeCord sand therapy division as ReCure. At the moment, we have close to 30-40 people on the field and teams across cities in Uttar Pradesh, Haryana, Bihar, North East, and Southern states. These include well qualified professionals with technical background in the area.
Q: Are there any plans for new product launches or market expansion in immediate future?
Our core business has been the stem cell banking and therapy. However, we realize that there is a synergy if we bring out neutraceutical division. We are already offering banking and therapy and now can provide the neutraceutical supplement in nervous segment that includes Parkinson's, Alzheimer's, cerebral paralysis etc. It will never have direct effect but act as a complimentary source of . The division is is a self sustaining one and we already have two to four products in offerings. By the end of the year, we will have eight to nine products. I feel that the doctors can see a buddy in stem cells. Patients too need to realize that stem cells are used at primitive stage.