Cord Blood America Announces Second Supply Agreement to Provide Placenta, Umbilical Cord Collection Services to Major Tissue Bank
LAS VEGAS, Feb. 4, 2011 /PRNewswire/ — Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, announced today that it has signed a Supply Agreement with a premier national and international cell and tissue bank to provide placenta, umbilical cord blood and whole umbilical cord collection services for research purposes.
The cell and tissue bank is well known for its patented success developing procedures to store unique cell and tissue types. “The research it undertakes is important to secure the future of stem cell therapy,” said Matthew Schissler, Cord Blood America co-founder and CEO. “Research is highly confidential and highly competitive at the same time, so confidentiality of the party is a must.”
“This is the second supply agreement we have signed. These are important transactions that allow Cord Blood America to diversify its revenue stream. The first agreement, announced in April 2010, provided approximately five percent of our revenues in the third quarter of 2010, showing the importance of these agreements with world renowned entities.”
The placenta (sometimes called afterbirth) connects the developing fetus to the uterine wall and supplies oxygen and food. Research has shown there are a significant number of stem cells in the placenta. The umbilical cord is the connecting cord between the embryo and the placenta and cord blood also contains medical useful stem cells. Until recent years, all this was disposed as medical waste.
About Cord Blood America
Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
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SOURCE Cord Blood America, Inc.