On May 15, 2018, the first factory for the production of stem cells in Western Asia (Cell Tech Pharmed) was inaugurated with the presence of Minister of Health and Medical Education Hassan Ghazizadeh Hashemi, and the First Vice President of Iran Eshaq Jahangiri[23] [24][25]The factory, set up by Barakat Pharmaceutical Company and Royan Institute, [26] is a subsidiary of the Barakat Pharmaceutical Group[27] and is run by Cell Tech Pharmed, a company established in 2014 to work on stem cells, biotechnology, nanotechnology and pharmaceuticals.[23]It also manufactures products including Monocell, Ricollersal, Rhinooderm cell, etc. which are used to treat various cardiovascular, skin and skeletal diseases.[23][28]