Present invention explains method of derivation of human cardiomyocytes from mesenchymal stem cells (MSCs), isolated from human discarded perinatal tissues, as a renewable, scalable and sustainable system to provide functional beating cardiomyocytes for performing cardiac pharmacological assays. This cell system is different from existing platforms because : a) the cells are of adult human origin, b) it provides a high yield and viability of target cells for screening cardio toxicdrugs already in use in the market as well as screen investigational new drugs for cardio toxicity, c) it does not employ expensive genetic manipulations. The present invention utilizes a novel cocktail of epigenetic modifiers. This adult cardiomyocyte cell system have been derived by a unique epigenetic modulation of human MSCs to develop functional and marker based assays to screen compounds that can be toxic to adult cardiomyocytesin vitro
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