Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com ) focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, said today that it is opening its new Corporate headquarters and cryogenic research and storage laboratory in Las Vegas, as planned, the first week of October.
Matthew Schissler, founder and CEO, said the 17,000 square foot facility is perhaps the one of the largest cryogenic storage facility in the U.S. "Our goal is to ensure CBAI becomes one of the largest cryogenic storage companies in the world," Cord Blood America's founder said.
"The new facility will significantly reduce the cost of sales while increasing gross profits, because we no longer have to outsource the storage and because of its proximity to one of the nation's busiest airports," Mr. Schissler said.
"It allows us to expand our arsenal, storing other stem cells such as adipose tissue and peripheral blood stem cells. Also, we will explore wholesale storage contracts with other companies for a profit, as well as store other medical necessities including plasma or tissue. Having the new facility will move CBAI away from being strictly a business to consumer sales company of cord blood stem cell storage. CBAI will have the ability to offer multiple consumer storage products, while adding additional business- to-business revenue streams, with possibly an additional layer of research and development."
"We anticipate processing of stem cells in the new lab to commence sometime in the fourth quarter of 2009. We are confident that this new facility will assist Cord Blood America to become a giant in the cryogenic storage sector," Mr. Schissler said.
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