LAS VEGAS, Jan. 4 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com) focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, said today that it has signed a Letter of Intent to process and store cord blood specimens for BioCells, Inc., headquartered in Argentina, and its affiliates in Peru, Colombia, Bolivia, Panama and Puerto Rico.
"This is an excellent example of how our new laboratory and storage facility in Las Vegas allows us to significantly diversify our business model," said Matthew Schissler, co-founder and CEO. "BioCells is already the second largest stem cell storage company in Argentina with annual revenues of 1.5M (USD). The company has 12 locations throughout the country and has recently expanded internationally to both Uruguay and Paraguay. We are confident this will be an excellent working relationship, beneficial to both companies. We will be processing and storing for BioCells' affiliates in Peru, Colombia, Bolivia, Panama and Puerto Rico."
"It is a revenue generator we have not had in the past. Not only do we have our own organic sales engine, our new lab can now generate gross profit by processing and storage agreements with other successful stem cell companies," Mr. Schissler commented. "BioCells has proven to be a tremendous company and we are fortunate to have entered into this letter of intent."
Cord Blood America recently announced a grand opening of its 17,000 square foot stem cell laboratory and headquarters in Las Vegas, near the city's international airport, on January 22, 2010.
The deal between Cord Blood America and BioCells is pending due diligence, and if it is completed successfully, anticipates the contract closing in the first quarter of 2010.
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.
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Some statements made in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate,'' "believe,'' "expect,'' "future,'' "intend,'' "plan,'' and similar expressions to identify forward-looking statements. These statements including those related to the growth of the industry, new stem cell treatments, and the Company's performance, are only predictions and are subject to certain risks, uncertainties and assumptions. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
SOURCE Cord Blood America, Inc.