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Cord Blood America, Inc. (OTCBB: CBAI) is one of our highlighted companies this month. The company engages in the collection, testing, processing, and preservation of umbilical cord blood in the United States. This blood enables families to preserve cord blood at the birth of a child for use in future stem cell therapy, which uses live cells as therapeutic agents to treat disease.
In our client’s news today,
Cord Blood America, Inc. (CBAI.OB) announced that Pennsylvania is the third state to pass a law focused on educating pregnant women and families on the benefits of umbilical cord blood storage. Pennsylvania’s Governor Edward G. Rendell signed House Bill 874 into law last week. The law will take effect in about 60 days.
In May 2007, Cord Blood America acquired CorCell, whose sales and marketing groups are headquartered in Philadelphia. During the process of acquiring the fourth largest umbilical cord bank in the U.S., Cord Blood America was able to establish strong relationships with state health insurers and the local medical community.
CEO of Cord Blood America, Matthew Schissler, said, “It is so important that families be informed about the benefits of umbilical cord blood storage, which is safe, non-controversial and is already used to treat more than 70 serious diseases, including various blood cancers such as leukemia, lymphoma and myelomas such as Hodgkin’s Disease, and blood diseases including anemia and immune deficient disorders.”
“We salute Pennsylvania for joining New York and California in taking the lead in providing solid, reliable information to potential new parents and believe this trend will continue in many more states,” Mr. Schissler continued.
Cord Blood America is an umbilical cord blood banking company focused on the preservation of life-saving stem cells for national and international use. Cord blood stem cells, which are collected through a safe and non-invasive process, have tremendous life-saving potential. The harvested stem cells can be banked for individual family use or can be banked for donation for families in need.
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