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, announced today that an architectural firm has been retained for the new, 200,000 square foot umbilical cord blood processing and storage facility in China. CBAI has signed a License and Cooperation with AXM Pharma, Inc. (Pink Sheets: AXMP), a global pharmaceutical company with a major presence in the Chinese pharmaceutical market for more than 10 years.
"We are in discussions to open a temporary facility in 2010 so we can begin the storage process in an AXM Pharma facility in Shenyang, China," Matthew Schissler, Cord Blood America co-founder and CEO, said. "This would mean we would receive revenues from China faster than the 2011 date previously projected."
Mr. Schissler also said that the Company's new laboratory in Las Vegas has been processing samples for more than two months, all the samples that used to be stored elsewhere are now in Las Vegas, and the opening of the facility, with a staff of 7 lab personnel and 25 employees total, has been successful. "We receive numerous inquiries from shareholders, and potential investors, and we are pleased to bring them up-to-date on our accomplishments," Mr. Schissler said.
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