The partnership approved with StemCyte establishes an initial term to accelerate the collection of donated cord blood units with the highest quality and potency of cells that can treat illnesses. Qualified cord blood units will be placed on the national registry that is searched by transplant physicians worldwide to treat over 70 known medical indications. Headquartered in California with 88 employees, StemCyte, was one of the original Cord Blood Banks to be contracted by the US Government to help build the National Cord Blood Inventory. The Company has an over 10 year partnership supplying high quality units to the federally administered National Cord Blood Inventory. StemCyte retains the highest independent lab accreditations and has established partnerships in California with some of the largest birthing hospitals to enhance its UCB collection capacity making it a logical partner to the state.
"StemCyte strongly supported California in establishing a public cord blood bank system that draws upon California's unique diversity. We could not be more thrilled with our new role helping to bring these life-saving units from California donor families to the public," said Calvin Cole, President of Commercial Operations, North America. "Through this new partnership, StemCyte continues to build on its global commitment to quality cord blood banking and advanced therapies."
The Company will perform cord blood collections and processing under agreement with the state administrators at UC Davis for an initial six-month period. Partial reimbursement toward the costs of qualifying donor mothers, collecting the cord blood, transport, lab processing, testing and maintenance of the units will be made only for units qualified to be listed on the national cord blood registry.
About StemCyte, Inc.
Located in the US, India and Taiwan, StemCyte has established one of the largest, most racially diverse, and highest quality cord blood stem cell banks in the world. StemCyte has supplied over 1,750 cord blood products for over 70 life-threatening diseases to over 200 leading transplant centers worldwide. StemCyte is actively involved in the development of new umbilical cord blood-based cell therapies. The Company supports the largest clinical study for using unrelated cord blood transplantation for thalassemia, one of the most common genetic diseases in the world, and the development of trials investigating regenerative spinal cord therapies. StemCyte is one of the only for-profit companies contracted by the US Department of HHS to help contribute clinical grade cord blood units to the public National Cord Blood Inventory for unrelated transplants. Its headquarters are in Covina, CA. To learn more visit www.StemCyte.com.
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