NEW YORK, Feb. 2, 2018 /PRNewswire/ -- Americord Registry LLC is seeking up to $6 million in funding to fuel its rapidly expanding business. Ranked for the past three years as one of the fastest growing private companies in the United States, Americord intends to use the additional funds to continue its history of innovation through the development and promotion of new stem cell collection technology and innovative new stem cell therapies.
"The biotech industry is growing at a rapid rate and we are looking forward to being a major player in that industry. While we are excited at the prospect of developing new products and breakthrough treatments, we are still committed to continuing to meet the high standards our current and potential clients expect," said CEO Martin Smithmyer. "Americord has a long track record of innovation and already offer products that no other company currently does. In this environment, it is definitely the right time to scale and grow with forward-thinking partners."
This round of financing is intended to provide capital to further improve our state-of-the-art collection kit, expand our current digital marketing campaigns by raising physician awareness of our product and stem cell banking in general, and hire new personnel in key areas.
New Product Development and R&D: Americord has developed a new cutting-edge product that is scheduled to be launched in March of this year. Geared toward newborns, the product will revolutionize the newborn biotech industry. In addition, Americord intends to launch its first therapeutic product offering sometime in 2018.
Medical Product Improvements and Innovation: Americord is in the process of further refining the efficacy of its current stem cell banking products. These products are critical to stem cell banking and Americord's work will have a positive and significant impact on the future of medicine as regenerative therapy continues to grow.
Investing in Americord's Infrastructure: Americord has a desire to continue growing at a profound rate. Funding will ensure that the company will be able to grow internationally in 2018 and make vertical and horizontal acquisitions within the biotech industry.
Americord Registry LLC is a leader in the advancement of umbilical cord blood, cord tissue, and placenta tissue banking. Americord collects, processes, and stores newborn stem cells from umbilical cord blood for future medical or therapeutic use, including the treatment of more than 80 blood diseases such as sickle cell anemia and leukemia. Founded in 2008, Americord is registered with the FDA and operates in all 50 states. The company's laboratory is CLIA Certified, accredited by the AABB and complies with all federal and state guidelines and applicable licenses. Americord is headquartered in New York, NY. For more information, visit www.americordblood.com.
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SOURCE Americord Registry