Cord Blood America Provides Corporate Update Discussing Bill HR-2520 and Media Coverage For Cord Blood Stem Cell Transplants
Related News: Cord Blood Stem CellsLOS ANGELES, May 25, 2005 (PRIMEZONE) -- Cord Blood America, Inc. (OTCBB:CBAI), an umbilical cord blood stem cell preservation company, is pleased to provide this first installment in a series of Corporate Updates. The purpose of this information campaign is to provide both Cord Blood America investors and the investment community as a whole with a comprehensive overview of the Company, its services and its industry during a time of rapid growth and development.
In this corporate update, our focus is on Bill HR-2520 and further positive industry coverage in the media.
Benefits of Cord Blood Stem Cells - Overview
Stem cells are used today in the treatment of leukemia, breast cancer, lymphoma, Hodgkin's disease, Aplastic Anemia, Sickle Cell Anemia, various other cancers, blood diseases, hereditary/genetic conditions and immune system disorders. There are approximately 1.4 million new cancer cases each year. As stem cell transplants become routine, they may be used to fight lung cancer, Multiple Sclerosis, Lupus, AIDS and many other genetic diseases.
The blood cells collected from the umbilical cord are "pure" cells, and are collected before any changes have occurred in their genetic make-up. In a case of leukemia, where it is not present at the beginning of life, but is developed by mutation or change in normal genes later in life, the use of these "pure" cells for transplantation is an effective way to treat the disease. In the case of other types of cancers (e.g. solid tumors), stem cells are not involved and can be used for transplantation.
Stem Cell Therapuetic and Research Act Of 2005 (HR-2520) Passes The House Of Representatives
On Tuesday May 24, 2005, the House of Representatives, by a virtually unanimous vote, passed HR-2520, a bill that would boost research using adult stem cells, bone marrow, and cells from umbilical cord blood. Opponents to a similar but controversial embryonic bill embraced HR-2520 for its focus on stem cells from umbilical cords.
The legislation will provide $79 million in federal funding to increase the number of cord blood units available for matches. The objective is to reach 150,000 units, which would translate into matches for 90 percent of patients in need of them.
It also reauthorizes the national bone marrow transplant system, combining it and the cord blood in the same database. President Bush has indicated he would sign HR-2520.
National Media Coverage
Recent articles in Time Magazine (May 30 edition) and New York Newsday (May 24) report the successes of a study that was published in the New England Journal of Medicine on May 19. The study shows that cord blood stem cell transplants not only enhance survival for babies born with the condition called Krabbe disease - which is normally fatal by age 2 - but if done before symptoms develop, they can allow babies' brains to develop at or near normal pace. These successes offer hope for victims of a host of rare diseases brought on by genetic flaws that cause specific protein deficiencies in the brain. There are more than 45 known such diseases, affecting approximately 5,000 babies of the roughly 4 million born in the United States each year.
Matthew L. Schissler, Chairman & CEO of Cord Blood America, states, "Continued positive developments for cord blood in both the media and government bode very well for the business objectives of Cord Blood America. Greater awareness and funding serves to educate the public on the enormous benefits of umbilical cord blood stem cell preservation for expectant parents and their children."
This press release is available on the Cord Blood America IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/CordBloodAmerica. Alternatively, investors are asked to e-mail all questions and correspondence to CBAI@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.
Posted on May 30, 2005 03:48 PM