China Cord Blood Corporation and Cordlife Group Limited Announce Collaboration to Aid Asia-based Patients with Cord Blood Stem Cell Therapy
HONG KONG, July 23, 2014 /PRNewswire-FirstCall/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, and Cordlife Group Limited ("Cordlife"), a multi-product healthcare company catering to the mother and child segment, today announced that the two companies have joined forces in assisting patients across the PRC, Singapore, Hong Kong, Indonesia, India, the Philippines and Malaysia to identify suitable cord blood matching units for stem cell therapy.
Under the Memorandum of Understanding signed between the two companies, Cordlife, on behalf of its patients who are in need of cord blood stem cell therapy, can facilitate the process by providing relevant information to CCBC, who will then perform searches for possible matching units among its donated cord blood samples in the PRC. For patients who reside in the PRC, CCBC may seek Cordlife's assistance or contacts to source possible cord blood unit matches in the relevant public cord blood registries in the regions where Cordlife operates, which include Hong Kong, Singapore, India, Indonesia, the Philippines, and Malaysia.
Mr. KAM Yuen, Chairman of China Cord Blood Corporation commented, "Both CCBC and Cordlife share a common vision which is to enhance people's lives through the widening of umbilical cord blood stem cells application services. Our proposed collaboration will assist families in the PRC and other parts of Asia who face difficulties obtaining a matching cord blood unit to widen their search, resulting in the increased likelihood of receiving treatment."
Mr. Jeremy YEE, Executive Director and Chief Executive Officer of Cordlife said, "We are glad to collaborate with CCBC in a joint effort to make cord blood stem cell therapy more widely available to our patients, particularly those who have difficulty finding a matching cord blood unit. Our two companies share a common goal of providing the best services, saving lives and improving quality of life for people in the Asia region."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
About Cordlife Group Limited (Bloomberg stock code: CLGL SP)
Incorporated in May 2001, Cordlife Group Limited ("Cordlife") is a multi-product healthcare company catering to the mother and child segment and a leading cord blood and umbilical cord lining banking services provider. Today, Cordlife operates the largest private cord blood banks in Singapore, the Philippines and Indonesia; and is amongst the top three market leaders in Hong Kong and India. Cordlife also holds 10% and 31.81% stakes in China Cord Blood Corporation and StemLife Berhad respectively, both of which are their countries' largest cord blood bank operators. For more information, please visit www.cordlife.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, performance and results of operations, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the U.S. Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Mr. Bill Zima
Tel: (+86) 10-6583-7511 (China) or (+1) 646-405-5185 (U.S.)
Source : Deloitte & Touche Financial Advisory Services Limited report, 10 April 2013
SOURCE China Cord Blood Corporation