Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Cord Blood America, Inc. (CBAI.OB) Praises Congress and President for Reauthorizing Umbilical Cord Blood Stem Cell Collection Legislation

|Includes: Cord Blood America, Inc. (CBAI)

Cord Blood America, Inc. recently issued a press release praising the fact that Congress has approved, and President Obama has signed, the Stem Cell Therapeutic and Research Reauthorization Act of 2010.

Cord Blood America, parent company of CorCell, is an umbilical cord stem cell preservation company that works with parents who are expecting children. Aiming to be the “most respected stem cell preservation company in the industry”, Cord Blood collects stem cells from the umbilical cords of expectant mothers through a non-invasive process.

Matthew Schessler, co-founder, CEO and President of Cord Blood America said, “We believe there is a place for both public and private storage of umbilical cord blood stem cells and we salute Congress and the President for recognizing this important fact.”

He mentioned that Congressman Chris Smith (R-N.J., who wrote the original bill in 2005) said that research using stem cells is ongoing and expects their use to do “miraculous things”, such as aid in the treatments of cerebral palsy, lupus and genetic diseases including Krabbe disease, Hurler disease and Tay Sachs disease.

Congressman Smith said, “It remains one of the best kept secrets in America that umbilical cord blood stem cells are curing people of a myriad of terrible conditions and diseases. Umbilical cords are a rich, non-controversial source of stem cells, yet hospitals throw millions of them away each year. This law created a new nationwide umbilical cord blood stem cell program designed to collect, derive, type and freeze cord blood units for transplantation into patients to cure serious diseases such as childhood leukemia.”

U.S. Senator Jack Reed (D-RI), co-sponsor of the bill, said, “Cord blood is the blood that remains in the placenta and in the attached umbilical cord after childbirth. It is collected because it contains adult stem cells, which can be used to treat a range of diseases,” and that the bill will “help thousands of patients suffering from diseases requiring bone marrow and cord blood transplants.”

Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net


Disclosure: no positions