Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, today announced highlights for the six-month period ended June 30, 2010. The Company believes the period was the most significant and eventful in its history.
"If we can continue this pace of expansion and acquisition, we will fast approach our goal of becoming the most significant stem cell company in the world," Matthew Schissler, co-founder and CEO, said.
The year started with more than 200 investors gathered in Las Vegas, along with a number of local and state dignitaries, for the Grand Opening of the Company's 17,000 square foot stem cell laboratory and headquarters, which is believed to be the largest cryogenic storage facility and stem cell laboratory in the U.S.
Also in January the Company announced it had received commitments for up to $16.8 million to fund its business strategies in 2010, including acquisitions, and that it had signed a letter of intent to process and store cord blood specimens for BioCells, Inc., headquartered in Argentina, one of South America's largest stem cell companies with revenues topping $1.5 million (U.S.) annually. That agreement was finalized in February and in April Cord Blood America announced its intention to purchase a controlling interest in the profitable Buenos Aires firm. Also in February the Company named Shamoon Ahmad, M.D., President of the Nevada Oncology Society with a distinguished record in medical oncology, as Director of its Medical Advisory Board.
March 2010 began with the Company announcing it had acquired controlling interest in stellacure GmbH, one of the largest cord blood banking services in Germany, operating in conjunction with the German Red Cross. "This gives us the foundation needed to expand our services throughout Europe," Mr. Schissler said. Revenues from stellacure are projected to top $1 million in 2010. The month of March ended with Cord Blood America announcing it has signed a License and Cooperation Agreement for the processing and storage of umbilical cord blood in China. "Our plan is to create the world's largest cord blood bank in the world's most populous nation," Mr. Schissler said.
Also in April 2010 Cord Blood America announced it had signed an agreement to provide placenta collection services for therapeutic transplantation for a large, well-respected U.S. tissue bank. "These stem cells are used in treatments against disorders such as sickle cell disease and leukemia and research is ongoing on utilizing these cells in treatments for diabetes, heart disease, stroke and other major medical conditions," Mr. Schissler said.
Finally, to round out the six months of activity, Cord Blood America announced in May 2010 its "Afford-A-Cord" program, which significantly reduces the initial cost of storing umbilical cord blood stem cells, allowing more families to participate in taking advantage of the real and potential medical advances from the use of stem cells. In June 2010, in an analyst interview, Mr. Schissler said the unique new program could significantly increase new account additions.
"CBAI set its top-line focused goals for investors at the beginning of the year: Organic Growth, Acquisition, and Diversification of Revenue Streams. We believe in the first half of 2010 that we have built a strong foundation to support those objectives and we're excited about the second half of 2010. We look forward to continued pursuit of these important goals, as well as announcing additional news that we believe will reward and benefit all of CBAI's loyal shareholders," Mr. Schissler said.
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