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Cord Blood America Provides Corporate Update Discussing Bill HR-2520 and Media Coverage For Cord Blood Stem Cell Transplants
LOS 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.
About Cord Blood America
Cord Blood America (OTCBB:CBAI) is the parent company of Cord Partners, 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 life-saving resource for treating a growing number of ailments, including cancer, leukemia, or blood and immune disorders. For more information on how this precious lifeline can benefit your family, visit www.cordpartners.com
Forward-Looking Statements
This release contains 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. Forward-looking statements include, without limitation, our ability to increase income streams, to grow revenue and earnings, and to obtain additional cord blood banking revenue streams. These statements are only predictions and are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's public filings with the Securities and Exchange Commission.
CONTACT: AGORA Investor Relations
http://www.agoracom.com/IR/CordBloodAmerica
http://www.cordblood-america.com
CBAI@agoracom.com
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