Cord Blood America Announces Cord Blood Stem Cell Processing and Storage Agreement With BioCells, a South American Company
January 04 2010 - 8:55AM
PR Newswire (US)
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:CBAI) (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:CBAI) (BULLETIN BOARD:
CBAI) , visit our website at http://www.corcell.com/. For investor
information, visit http://www.cordblood-america.com/. CONTACT: Paul
Knopick E & E Communications 949/707-5365 Forward-Looking
Statements 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. DATASOURCE: Cord Blood America, Inc. CONTACT:
Paul Knopick of E & E Communications, +1-949-707-5365, , for
Cord Blood America, Inc. Web Site:
http://www.cordblood-america.com/ http://www.corcell.com/
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