Laboratory; Consolidates Offices in Nevada
LAS VEGAS, Sept. 30 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (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 is opening its new Corporate headquarters and cryogenic research and storage laboratory in Las Vegas, as planned, the first week of October.
Matthew Schissler, founder and CEO, said the 17,000 square foot facility is perhaps the one of the largest cryogenic storage facility in the U.S. "Our goal is to ensure CBAI becomes one of the largest cryogenic storage companies in the world," Cord Blood America's founder said.
"The new facility will significantly reduce the cost of sales while increasing gross profits, because we no longer have to outsource the storage and because of its proximity to one of the nation's busiest airports," Mr. Schissler said.
"It allows us to expand our arsenal, storing other stem cells such as adipose tissue and peripheral blood stem cells. Also, we will explore wholesale storage contracts with other companies for a profit, as well as store other medical necessities including plasma or tissue. Having the new facility will move CBAI away from being strictly a business to consumer sales company of cord blood stem cell storage. CBAI will have the ability to offer multiple consumer storage products, while adding additional business- to-business revenue streams, with possibly an additional layer of research and development."
"We anticipate processing of stem cells in the new lab to commence sometime in the fourth quarter of 2009. We are confident that this new facility will assist Cord Blood America to become a giant in the cryogenic storage sector," Mr. Schissler said.
About Cord Blood America
Cord Blood America (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. (BULLETIN BOARD: CBAI) , visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
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.
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