Stem Cell Assurance, Inc. (Pink Sheets:SCLZ), a leader in stem cell collection and storage services for personal applications ranging from breast augmentation and facial rejuvenation procedures to Stem Cellutrition™ (www.stemcellutrition.com) skincare products, today announced a $1M agreement with a private funding source. This source will provide consulting services as it relates to securing loans, letters of credit, and/or debt based facilities for the acquisition of equipment necessary for the cryopreservation of adipose tissue, umbilical cord blood stem cells and peripheral blood stem cells. In addition to the funding referenced above, the Company is in negotiations with this source for an additional $1.5M as needed.
“This agreement between Stem Cell Assurance and our funding source enables the Company to fulfill a critical stage in the development of the Company's long term goals”
"This agreement between Stem Cell Assurance and our funding source enables the Company to fulfill a critical stage in the development of the Company's long term goals," said Stem Cell Assurance's CFO, Richard Proodian. (www.stemcellassurance.com).
Stem Cell Assurance's cryopreservation facility will offer multiple storage processes and units, enabling the Company to offer a variety of options for clients, and uniquely positioning Stem Cell Assurance to offer a wide variety of choices for patients. An adult autologous stem cell culture lab will also be built in this facility. Adult stem cells will be obtained from patients' own fat or blood and are not derived from embryonic cells. In addition, the funding will enable Stem Cell Assurance to begin its research model using stem cells in treating diabetes.