The cord blood banking industry is well-known for its shifting dynamics, including new alliances, new research advances and innovations. Every month there are major new events that affect market participants.
While it may be possible to stay informed about cord blood industry news in your region, it can be more difficult to track changes on a global scale. For that reason, the following is a summary of significant cord blood industry events for May 2015.
Cord Blood News Round-Up for May 2015
Lagana Cord Blood Bank Tax Deduction Bill Approved by Assembly Panel
[May 11, 2015] An Assembly panel on Monday approved legislation sponsored by Assemblyman Joseph Lagana to help more families afford the opportunity to bank their child’s cord blood in the event of a medical emergency down the road.
The bill (A-1030) would extend New Jersey’s gross income tax medical expense deduction to certain cord blood banking services.
Specifically, the bill would make costs for the collection and storage of umbilical cord blood from a cord associated with the biological offspring of the taxpayer or the taxpayer’s dependent a qualified medical expense.
MC, E-P Therapeutics, Forever Identity and ClinImmune/Caricord collaborate on studies and testing of UCB Stem Cell survivability under Micro Gravity (Micro-G) simulation
[May 12, 2015] the International Space Medicine Consortium (ISMC) will commence a study comparing the differentiation of Umbilical Cord Blood (UCB) stem cell survivability under “1G” and “Micro-G” conditions at its Micro-G laboratory in Connecticut. Micro-G simulates the condition aboard the International Space Station (ISS) and activities in Low Earth Orbit (LEO). The UCB stem cells to be used for the study will be furnished by the ClinImmune/Caricord bank at the University of Colorado.
Barry Ressler, ISMC Chairman and Chief Executive Officer expressed the importance of aligning IMSC’s internal scientific, medical, and Micro-G expertise with the collaborative partners disclosed in this release and ISMC’s plans to globally expand its network of space technology partners.
Scientists Receive $15.7M To Develop Stem Cell Therapies To Treat Blood Disorders
[May 13, 2015] A consortium of scientists and transplant clinicians from the Ansary Stem Cell Institute at Weill Cornell Medical College and the Center for Cell Engineering at Memorial Sloan Kettering Cancer Center has been awarded a $15.7 million, four-year research grant from the New York State Stem Cell Science Program (NYSTEM) to translate their innovative approach to expand and manipulate hematopoietic stem cells to cure acquired and inherited blood disorders.
For many patients with such blood diseases, including sickle cell disease, the only hope for curing them requires transplanting normal blood stem cells. However, in many instances, suitable normal blood stem cells cannot be found or there are insufficient numbers of cells for transplantation.
Cryo Cell International Inc Just Bought Cord Blood America Inc Stake
[May 14, 2015] Cryo-Cell’s purpose in acquiring and/or selling shares ofCommon Stock of CBAI is to benefit from any future appreciation in the stock price of CBAI, and potentially to influence the future direction of CBAI.
Cryo-Cell may also dispose of shares of Common Stock of CBAI from time to time in the open market, in privately negotiated transactions, or otherwise. Cryo-Cell or persons affiliated therewith may also enter into transactions directly with CBAI with respect to the acquisition or disposition of shares, or otherwise.
Cord Blood America Reports 2015 First Quarter Financial Results and Results of Special Shareholder Meeting, Announces Annual General Meeting
[May 8, 2015] David Sandberg, Chairman of Cord Blood America, Inc. stated, “With the approval of the increase in authorized shares and the deleveraging of the balance sheet, the Company now has the ability to invest in growth opportunities that it previously was unable to capitalize on. We have also appointed Board committees and approved committee charters, and we are progressing on other corporate governance improvements. Lastly, Red Oak’s investment has now automatically converted into common shares equivalent to 29.98% ownership in the Company.”
14 Private Cord Blood Banks Approved, Functioning (India)
[May 10, 2015] The Centre has no plans to set up tissue banks in the country, the Health Ministry has said, adding that there are 14 approved umbilical cord blood banks operating in the country, all of them in the private sector.
Minister of State for Health, Shripad Yesso Naik, said the Indian Council of Medical Research had set up a National Tumour Tissue Repository at the Tata Memorial Hospital, Mumbai, in 2005. “A total of 29,993 bio-specimens have been collected from 24,533 patients in the hospital till February 2015. A total of 2,004 bio-specimens have been disbursed to 41 projects along with clinical and follow-up data of 994 patients,”
India to Participate in First Clinical Study Trial to Treat Spinal Cord Injury Using Stem Cells
[May 11, 2015] India will be a part of a first-of-its-kind clinical trial, for treating spinal cord injury in humans through stem-cells.
The pre-clinical trial of the project has already been completed in the US and also the first phase clinical trials in China involving 120 patients. The phase 2b trial on humans in India will begin with six patients each from Bombay Hospital, Mumbai, NeuroGen Brain and Spine Institute, Mumbai and Apollo Hospital, Chennai.
The bone marrow, mobilized peripheral blood and umbilical cord blood are the easily accessible sources of stem cells.
Future Cord Blood News Round-Ups
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To learn more about trends and opportunities within the cord blood banking industry, view the “Complete 2015-16 Global Cord Blood Banking Industry Report” now.