Peter Nygard hopes to build stem cell research clinic in the Bahamas(Screengrab)

A millionaire fashion designer living in the Bahamas has claimed he is getting younger because of stem cell treatment.

Peter Nygard, a Canadian citizen born in Finland, claimed scientists were hoping to use him as an example of how stem cells could reverse the ageing process.

Nygard was said to be hoping to open a stem cell clinic in the Bahamas after prime minister Perry Christie passed legislation allowing stem cell research and therapy to take place.

Nygard told the Bahamas Tribune: “Stem cells are being used for anti-ageing and the University of Miami is doing a study about that to prove that it is true. They are looking at me, and my markers have shown exactly that I have been actually reversing my ageing and getting younger.

“I am taking perhaps more stem cell treatment than anybody else in the world. I have been doing it for four years now, so I am sort of a testimonial that this stem cell really works.”

The founder and chairman of Nygard International is assessing possible locations in the Bahamas where he can build his stem cell clinic, estimated to cost around $50m (£29m).

Nygard said his interest in stem cell research arose after his mother became seriously ill.

He told Freeport News: “I started stem cells when I wanted to find a cure for my mother who I loved very much and western medicine was not able to cure her.

“If I had discovered stem cells a year before, I think that she would still be here with me.”

Nygard is hoping to build his clinic on the islands of Freeport or Grand Bahama.

“If we can perhaps find suitable areas and make suitable deals then that can be a major contribution and this might be what Grand Bahama is looking for,” he said.