StemCyte Selected as a Technology Fast 500 Award Winner Global Cord Blood Therapeutics Company Receives Prestigious Revenue Growth Honor from Deloitte
COVINA, Calif., Oct. 22 /PRNewswire/ -- StemCyte, Inc., one of the world's preeminent cord blood banks and biotherapies companies, was recognized for its dramatic revenue growth as a Technology Fast 500(TM) award winner for 2009. Technology Fast 500(TM) is an award sponsored by Deloitte that recognizes 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America based on percentage of fiscal year revenue growth over five years.
"Deloitte's honor is validation of StemCyte's hybrid model providing expecting parents and the public with the highest quality cord blood banking and medical science with cell-based therapies that can literally save lives," said Ken Giacin, StemCyte's Chairman and Chief Executive Officer.
"Being recognized by a world renowned brand like Deloitte is testament to StemCyte's innovations globally," stated Calvin Cole, StemCyte's Vice President for North America. "Tens of thousands of expecting parents are banking their newborns' umbilical cord blood stem cells annually. It's imperative more expecting parents know about the potentially lifesaving treatments from their own baby's cord blood so it can be saved from what is truly a once in a lifetime opportunity."
A baby's cord blood is a rich source of stem cells, the body's "master cells", offering genetically unique building blocks for blood, organs, tissue, and the immune system. Stem cells reproduce and differentiate into other cell types, including bone, heart, muscle, and nerve. In transplantation, stem cells differentiate into red blood cells, white blood cells, and platelets, the three types of cells necessary for healthy blood and a sound immune system. Parents who choose to bank their baby's cord blood preserve a unique biological resource that is similar to a "self-repair kit" for a child.
"With its impressive five-year growth, StemCyte has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor StemCyte for its achievement."
StemCyte experienced revenue growth of 296 percent over the five years 2004 through 2008.
About StemCyte, Inc.
Located in the US, India and Taiwan, StemCyte has established one of the largest, most racially diverse, and highest quality cord blood stem cell banks in the world. StemCyte has supplied over 1000 cord blood products for over 40 life-threatening diseases to over 200 leading worldwide transplant centers. StemCyte is actively involved in the development of new umbilical cord blood-based cell therapies. They are supporting the largest clinical study for using unrelated cord blood transplantation for thalassemia, one of the most common genetic diseases in the world, and supporting trials investigating regenerative spinal cord therapies. They are the only for-profit company contracted by the US Department of HHS to establish a public National Cord Blood Inventory for unrelated transplant units. Its headquarters are located in Covina, Ca. and Ewing, NJ. To learn more visit www.StemCyte.com.
About Deloitte & Technology Fast 500(TM) Selection and Qualifying Criteria
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
Technology Fast 500(TM) provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500(TM) website, and public company database research conducted by Deloitte. Technology Fast 500(TM) award winners for 2009 are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.
SOURCE StemCyte, Inc.