The Tribune

BY NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A US-based company is planning to invest $3.5 million in setting-up a regional bio-bank centre in the Bahamas, with the inaugural laboratory set to employ between 12-14 people.
 Dr James A Manganello, chairman of Boston-based Provia Lab, an operation that offers dental stem cell banking services in the US and other countries, confirmed it was in the process of establishing Provia Laboratories Bahamas.

Responding to inquiries by Tribune Business via e-mail, Dr Manganello said: “Provia Bahamas will be a stem cell storage, expansion and laboratory training company that will provide services for the Caribbean, South America, Central America, and Mexico.

“This region is underserved and is in need of both private and public sector bio-banking. As a joint venture with Provia Laboratories LLC of Boston, Provia Laboratories Bahamas will operate under all US federal standards and FDA regulatory approvals that its parent company currently operates under.

“This enterprise will deal in adult stem cells only, and will explicitly avoid any services related to embryonic stem cells. Provia USA is the market leader in dental stem cell storage and expansion, as well as all stem cell storage. This expertise will be leveraged here in the Bahamas to build sales throughout the hemisphere, as well as develop with the Bahamas government a public bio-bank centre.”
 Dr Manganello added: “Our business model is also focused on laboratory technician training. Provia USA is the contractor to the US National Institute of Health Cancer Human Biobank (caHUB) to provide the government with direction in the design, development and operation of stem cell laboratories for the purposes of building a public stem cell storage infrastructure.

“Leveraging the expertise of Provia USA, Provia Bahamas will market itself as a regional centre for stem cell cryopreservation and laboratory technician training.”
 Dr Manganello said Provia Bahamas will need up to 10,000 square feet of office and laboratory space.

“Due to the special needs of the laboratory facilities, the business plan is to build-to-suit. Ownership of the building and the land will be 100 per cent owned by Provia Laboratories Bahamas,” he added.

“Provia Bahamas will invest $3.5 million of capital to cover construction of offices and laboratories, equipment, furniture, fixtures and soft costs to cover the period until we are cash flow positive.”
 Dr Manganello said Provia Bahamas will employ 20-30 Bahamians in the construction of offices and laboratories, with initial laboratory employment to be between 12-14 employees.
 Explaining the nature of the company’s work, Dr Manganello said: “Adult stem cells are found in bone marrow, abdominal fat (adipose tissue), dental stems from baby teeth and molars, umbilical cord blood and umbilical cord tissue, and are taken from the same person (autologous) for reuse.

“There may be instances for donor stem cells, but current focus is on autologous use. Recent research has found that the harvesting of stem cells from young patients is more beneficial than harvesting from older patients.

“That is, stem cell viability decreases with the patient’s age. Therefore, it is important to harvest and cryopreserve the patient’s stem cells as early an age as possible. These cryopreserved stem cells can be used for the patient as new medical treatments become available for tissue reparation in the heart and joints, organ development, nerve regeneration, spinal cord injury, diabetes islet cell reparation, and bone regeneration to name a few.”
 Dr Manganello added: “The harvesting process of mesenchymal stem cells varies as to the source or site they are obtained. For example, Provia Laboratories Store-A-Tooth services for harvesting is done by a pediatric, family dentist or oral surgeon for molar removal.

“These teeth are placed in our FDA and American Dental Association (ADA)-approved collection device, and transported to the laboratory for processing. A portion of the dental pulp, where stem cells are found, is removed and expanded to verify the presence of stem cells.

“Some stem cells are able to be identified ‘markers’ as to specific use for bone, nerve, organ, etc. Both the expanded cells and remaining teeth are cryopreserved. These cryopreserved stem cells are ‘good for life.’ The identified ‘markers’ is given in a prepared document and sent to the parents of the patient. The collection of adipose tissue, cord blood and cord tissue have varying processes, but all are cryopreserved.”