“A Woman In Stem, Literally.“
Plaudits and praise for female-led Cryoviva.
Cryoviva (Thailand) Ltd., is the first stem cell bank to be recognized by Frost & Sullivan, and has been named Stem Cell Company of the Year for three consecutive years from 2015 to 2017. The company, under Chief Executive Officer Chiranya Prachaseri, has racked up an impressive list of milestones in relatively short order, holding the distinction as the only company in Thailand that has received continued accreditation for more than ten years.
This includes receiving the Stem Cell Company Growth Excellence Leadership award in 2018, and managing to establish a firm foothold as a major player in the Southeast Asian markets with active representation in over 20 countries including Thailand, Singapore, Vietnam, Myanmar, Cambodia and Laos. Cryoviva, counts amongst its clients, families looking to store and preserve stem cells for the prospective health of their children.
Part of its success has been due to the dynamism and forward thinking of its top executive. Chiranya, who was educated in Asia and the United States of America and who has worked in a number of different countries, opined that her experience abroad allowed her to formulate an amalgamation of the best practices of both East and West that worked ideally for the businesses that she manages.
“The major difficulties in our business include the lack of concern in delivering a quality product,” she says. ”When the need arises for the use of stem cells, the processes that are followed from the collection of the specimen, processing and storage are extremely crucial, we aim to ensure that no chances are taken so there are no risks for our clients and we can deliver a quality stem cell unit that will be accepted at transplant centers worldwide, and assure the best possible outcome from the perspective where our involvement is concerned. I am proud that our investors focus on maintaining a high standard of quality and not only on profitability and supported the Cryoviva team to receive international accreditation from AABB (Formerly the American Association of Blood Banks, USA), which ensures our processes can assure this outcome. With the foresight of our investors and the importance placed on building a lifeline for a lifetime with our clients, we are encouraged to consistently look to deliver innovation, and in keeping with this, are in the process of acquiring new technology that would be used for stem cell therapies and regenerative medicine in the future,” the Thai powerhouse divulged.
Chiranya’s parents, both of whom were successful business persons in their own right, served as role models in her formative business years. “My parents were great philanthropists. It has long been a tradition in our family,” she says. Little wonder then that she was instrumental in establishing the Down Syndrome Support Group of Thailand after the birth of her twin daughters, one of whom has the genetic disorder.
As far as entrepreneurial models go, Cryoviva’s CEO credits the Indian entrepreneur, Ratan Tata, as a source of admiration. “Mr. Tata’s philosophy in managing his business, and his efforts in contributing socially resonates very strongly with my personal beliefs,” she says. Closer to home, our investors who decided to venture into this line of business more as a cause to further the hope of good health for the future of humankind more than profit, inspire my team and I daily to operate with care, a high ethical bar and compassion in all that we do.
Little wonder that the company has committed to CSR (Corporate Social Responsibility) initiatives like establishing a fund named The Cryoviva Fund for Stem Cell Transplant Patients. Cryoviva has also organized a charity walk-run activity called Run for a New Life. Additionally, the company has provided grants for the less fortunate in dire need of stem cell transplants.
As one of Asia’s Most Inspiring Executives at this year’s ACES Awards, Chiranya is of the mind that “a good leader doesn’t sit up on the ivory tower and watch, but gets down to the ground to feel the pulse of the business, rolls their sleeves up and works side by side with their team.”
“In addition, it’s not only executing the plans that are in place for the business that is important, but to ensure you can support your team through their personal lives too. When you work with your team as a family and still can be an unbiased leader, you win.”
The CEO, who likens her leadership style to that of a coach, says she encourages her team to think out of the box. “When you allow creativity to flow, you not only develop great employees, but you are also able to filter and plan for succession effectively.”
“In a business as personal as a stem cell facility, there is a great need for the leadership to show the bankability of empathy, sympathy and hope. Cryoviva’s Chiranya Prachaseri demonstrates these attributes in a most stellar way, while also being able to wear the hat of a business strategist and charismatic leader.”
Shanggari Balakrishnan, Chief Executive Officer, MORS Group