Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company, focused on bringing the life saving potential of cord blood stem cells to families nationwide and internationally, announced today that it has purchased all the umbilical cord blood (UCB) samples and the related laboratory equipment from Reproductive Genetics Institute, Inc. (RGI), based in Chicago, Illinois.
RGI currently concentrates on its pioneering work on pre-implantation genetic diagnosis (PGD) and human embryonic stem cell research, and will ship to Cord Blood America all its UCB samples, in total of over 2,000, including approximately 600 stored for its direct customers. The majority of the lab equipment will be shipped to China Stem Cells, HK, Ltd., in Benxi China, to which CBAI owns a minority position in the business.
"We have emphasized that one of the most effective ways to grow our international company is to acquire other companies or to purchase their stored umbilical cord blood. This is an excellent example of a cost effective, smart way to improve Cord Blood America for our shareholders," said Matthew Schissler, CEO and co-founder.
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