Int’l investor mulls P2-B stem cell facility

MANILA, Philippines - The Philippines is in the final running for a US investment in a stem cell facility/hospital and wellness resort as executives of Global Private Funding (GLOBAL) revisited the country to firm up plans and make a final ocular inspection for a possible location.

Dr. Sam Senev, chairman and CEO of Global Private Funding (Global), led a delegation that visited the Philippines in January. They have since returned with great interest to establish a P2-billion facility in the Philippines.

Global is an investor in and provides business incubation services to The Global Institute for Stem-cell Therapy and Research (GIOSTAR), a US-based firm with headquarters in San Diego, California. GIOSTAR owns and operates the world’s first dedicated stem cell treatment hospital with the most advanced on-site stem cell laboratory.

Dr. Anand Srivastava, principal scientist of GIOSTAR, pioneered stem cell technology and is revered as the father of modern day stem cell-based rejuvenation modalities. To-date, his research papers are the most reviewed within the international stem cell science community.

For the proposed Philippine operations, Global intends to pursue a business model rooted in exceptional hospitality rather than in purely clinical approaches to therapy. The envisioned high-end hospital and wellness resort will offer various medical procedures, the core of which will be based on stem cell therapy.

Rodriguez is chairing the local committee that will identify and eventual select the location for the hospital and wellness resort. The goal is to have the location selected within 2013.

One area being considered as a possible site for the hospital and wellness resort is the Cabo Engaño resort area within the Cagayan Special Economic Zone and Free Port in Santa Ana, Cagayan.

Cabo Engaño has a very scenic coastline featuring mushroom islands, interesting landscapes and white sand beaches where waves break almost a mile offshore. The delegation took note of the fact that roads and power distribution infrastructure were already in place and an international airport was under construction nearby.

Brian Bishop said: “Since such a facility will require Global to also invest in ensuring reliable power supply, the choice of Cabo Engaño will result in an enhancement of the stability of the power grid in the free port zone.”