Cord Blood America Announces Fourth Supplier Agreement for Collection Services for Major Tissue Bank
LAS VEGAS, Nov. 16, 2011 /PRNewswire/ -- Cord Blood America, Inc. (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 its fourth Supplier Agreement with a well-respected, accredited, tissue bank for which it will provide placenta collection services for research and transplantation use by the tissue bank.
"This contract is in place and we have begun filling orders. This is an important revenue diversification for Cord Blood America, as sales not associated with umbilical cord blood storage account for approximately 8 percent of our total revenues," said Matthew Schissler, co-founder and CEO.
The placenta, sometimes called the afterbirth, connects the developing fetus to the uterine wall and supplies the fetus with oxygen and food. It is normally discarded at birth. Recent research has shown that there are numerous applications for use of the placenta, its associated blood vessels and membranes. Studies are currently underway to explore the use of these tissues to treat ailments including post-traumatic wound healing, diabetic ulcers, ocular surface disorders and vascular ulcers.
"We are currently involved in several similar projects and are excited not only to be a part of the research aspect of this emerging field, but also to further expand this portion of our service offerings" says Cord Blood America's Project Manager Gabby Stinson. "While details of the agreement are confidential, for competitive and other reasons, this continues our successful path toward revenue diversification."
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) 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. (OTC Bulletin Board: CBAI), visit our website at www.corcell.com. For investor information, visit www.cordblood-america.com.
E & E Communications
SOURCE Cord Blood America, Inc.