Friday, Cord Blood America, Inc. announced that it had signed an agreement with a prominent cell and tissue bank for the provision of various materials that will act as supplies for research purposes. Such materials include placentas, umbilical cord blood, and whole umbilical cords. The cell and tissue bank, which operates both nationally and internationally, is known for its success in developing procedures designed to store unique cell and tissue samples.
Cord Blood America, parent company of CorCell, is an umbilical cord stem cell preservation company, that works with parents who are expecting children. Aiming to be the “most respected stem cell preservation company in the industry”, Cord Blood collects stem cells from the umbilical cords of expectant mothers through a non-invasive process.
The placenta is the part of a fetus that supplies food and oxygen during the pre-birth development process in the womb, and the umbilical cord is what connects the fetus to the placenta. Both have shown to be excellent at supplying stem cells that can be used in medical research, which, until recently, have been disposed of after birth as medical waste.
“The research [that the company Cord Blood America has signed the supply agreement with] undertakes is important to secure the future of stem cell therapy,” said Matthew Schissler, Cord Blood America co-founder and CEO. “Research is highly confidential and highly competitive at the same time, so confidentiality of the party is a must. This is the second supply agreement we have signed. These are important transactions that allow Cord Blood America to diversify its revenue stream. The first agreement, announced in April 2010, provided approximately five percent of our revenues in the third quarter of 2010, showing the importance of these agreements with world renowned entities.”