Cord Blood America, Inc. (CBAI.OB) Announces Agreement with BioCells, a Major South American Company

By IBTimes Staff Reporter | February 09 2010 5:31 AM

Cord Blood America, Inc., the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children, recently announced that the company has secured an agreement with BioCells, Inc. to process and store cord blood specimens. BioCells, Inc., headquartered in Argentina with affiliates in Peru, Colombia, Bolivia, Panama and Puerto Rico, is the second-largest stem cell storage company in Argentina with annual revenues of $1.5 million (USD).

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Cord Blood America utilizes a safe and non-invasive process to harvest cord blood stem cells that offer a powerful and potentially life-saving resource for treating a growing number of medical conditions, including cancer, leukemia, blood and immune disorders. The company recently opened a 17,000-square foot stem cell laboratory and headquarters in Las Vegas, Nevada.

Matthew Schissler, Cord Blood America co-founder and chief executive officer, stated, “BioCells is an outstanding firm and we are delighted to finalize this agreement.” Mr. Schissler added, “This transaction is an excellent example of how we are diversifying our revenue model with our new, increased storage capacity.”