Ukrainian stem cell researchers are teaming up with American investors and the Caribbean tourist trade to set up an Institute of Regenerative Medicine on Barbados. It will carry out research and offer therapy using foetal stem cells for $25,000 per patient.

The treatment was developed at the Institute of Cryobiology in Ukraine. Speaking in London yesterday, Valentin Grishchenko, head of the Kharkov-based institute, said almost 20 years of clinical experience there showed that the stem cell therapy was safe and effective.