Cord Blood America, Inc., www.cordblood-america.com – leaders in the innovative and life-saving science of preserving umbilical cord blood for future use in the treatment of diseases within the patient’s family, disclosed details regarding operations for the six-month period ending June 30, 2010.
Co-Founder and CEO, Matthew Schissler, characterized the six-month report as the most significant and eventful in the entire history of CBAI, projecting that if this pace of expansion and acquisitive activity were to continue, the Company is well within striking distance of becoming “the most significant stem cell company in the world.”
Kicking off 2010 with the Grand Opening of their new 17k sq ft stem cell lab and HQ – believed to be the largest such cryogenic storage facility/stem cell lab in the US – with 200+ investors and local and state dignitaries in attendance, CBAI immediately followed up on this huge boost with the announcement of an up to $16.8M funding commitment in January to fund acquisitions and strategic activity for the year.
Signing a letter of intent with Argentina’s biggest stem cell company, BioCells, Inc. ($1.5M per year in revenue), in January to process and store cord blood specimens, CBAI finalized the LOI in February and proceeded to announce intent to purchase controlling interest in the highly profitable firm in April.
The Company also announced signing of a placenta collection services agreement in April with an established and well-respected U.S. tissue bank for therapeutic transplantation purposes, which Schissler described as consisting of mostly sickle cell and leukemia treatments, noting ongoing research for applications in “diabetes, heart disease, stroke and other major medical conditions.”
Appointment of the President of the Nevada Oncology Society, Shamoon Ahmad, M.D., as CBAI’s Director of its Medical Advisory Board in February was a real feather in the Company’s cap, as Ahmad’s distinguished record in oncology and vast experience emboldened personnel throughout the ranks.
With acquisition of controlling interest in German cord blood banking leader stellacure GmbH (which operates with the German Red Cross) in March, CBAI secured an excellent European market foothold for expansion of services throughout Europe, while gaining yet another solid revenue engine ($1M+ projected for 2010).
The Company also signed a License and Cooperation Agreement in March in China with the intention of creating “the world’s largest cord blood bank in the world’s most populous nation.”
In May CBAI rolled-out the “Afford-A-Cord” which, by lowering the initial cost of stem cell storage to consumer levels, has opened up major new medical advances with stem cells to more families – a June analytical review indicates the new program should really boost new account additions.
Schissler pointed to the clear strategy of top-line focused goals, laid out for investors at the start of the year, which emphasized organic growth, acquisition, and revenue stream diversification as constituting a strong foundation built in the first half of 2010 which makes everyone very excited about the second half.
Schissler reaffirmed the core strategy and hinted to upcoming news that he believes will handsomely reward all of CBAI’s loyal shareholders.
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