LOS ANGELES, January 25 - Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company which is focused on bringing the life saving potential of stem cells to families nationwide, today announced the completion of an asset purchase agreement with Cryobank for Oncologic and Reproductive Donors, Inc., Middletown, N.Y.
Cord Blood America is acquiring approximately 750 umbilical cord blood samples which had been banked with Cryobank. Cord Blood America will assume these customer contracts, as well as three cryogenic freezers that are being used to store these umbilical cord blood samples, for cash and unregistered shares of Cord Blood America's common stock. The transaction is detailed in the Company Form 8-K filed with the U.S. Securities & Exchange Commission on January 18, 2006.
"This purchase increases the number of revenue producing contracts we oversee by approximately 53 percent and helps build a health care influencer channel into this area of New York for our Company," said Matthew Schissler, Cord Blood America Chairman and CEO. "This also serves as a model for how we can continue to grow Cord Blood America in the future."
"Cyrobank is pleased to join with Cord Blood America, an organization that shares our values for top quality and the excellent customer service that our customers have become accustomed to," said Dr. David Cohen, a urologist and founder of Cryobank for Oncologic and Reproductive Donors. "We are pleased by this asset purchase and look forward to a very successful future."
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 Cryobank for Oncologic and Reproductive Donors
Cryobank for Oncologic and Reproductive Donors, Inc. was founded in Middletown, N.Y., in 1998 as a private, full service cord blood company with cryobank facilities to serve the families in its community. Please visit http://www.cordbloodforlife.com for more information.
About Cord Blood America
Cord Blood America, Inc. (OTC Bulletin Board: CBAI) is the parent company of Cord Partners, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Stem cells have proven successful in replacing other cells that are damaged or missing due to a disease. Unlike embryonic stem cells, there is no controversy with the collection or use of these stem cells. Cord Blood America facilitates the harvest of stem cells from umbilical cords that traditionally have been discarded at birth for the sole use of the family. For more information on how this precious lifeline can benefit your family, visit http://www.cordpartners.com . For investor information, visit http://www.cordblood-america.com .
Some statements made in this press release are 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. These statements including those related to the growth of the industry, the growth of the Company through additional asset purchase agreements, the increased revenue produced by the new contracts, new stem cell treatments, and the Company's performance, are only predictions and are subject to certain risks, uncertainties and assumptions. Additional risks are identified and described in the company's public filings with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
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