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Press Releases

Cord Blood Registry Maintains Strong Growth in Weak Economy

Increasing Use of a Child’s Own Cord Blood in Regenerative Medicine Studies
Driving Awareness and Growth in Family Banking Market

SAN BRUNO, Calif. – November 3, 2008 – Cord Blood Registry (CBR), the global leader in umbilical cord blood banking, announced today that the company achieved a record number of client enrollments for the quarter ended September 30, 2008, achieving a 33 percent increase year-over-year. Revenue increased 36 percent and net income increased 118 percent compared to the same quarter last year.

"Our growth has come in part from an increase in market share, but we’re also seeing a growing market,” said Tom Moore, chief executive officer of CBR. “I think there is broader awareness that the medical research community is increasingly excited about the therapeutic potential of using a child’s own cord blood stem cells in a wide range of regenerative medicine therapies for conditions that have no cure today. This represents a significant increase in the value of cord blood stem cells and their use by our clients.”

According to the U.S. Department of Health and Human Services, regenerative medicine is the next evolution of medical treatments that focuses on using the body’s own stem cells to cure failing, impaired or injured tissues. This revolutionary approach to medicine has the potential to develop therapies for previously untreatable diseases and conditions, including cerebral palsy, brain damage from accidents, stroke, spinal cord injuries, diabetes, heart disease, and renal failure.

“This is no longer a discussion about the future, it’s now,” said Moore. “CBR is playing the leading role in helping connect researchers with children who have a condition or injury that’s being studied as well as access to their own cord blood stem cells. This is only made possible because their parents made the decision to bank their baby’s stem cells with us at birth even though there was no indication of need.”

Cord Blood Registry Maintains Robust Business

In addition to an ongoing trial for type 1 diabetes, expanded trials for cerebral palsy and traumatic brain injury are expected to be enrolling patients shortly. Clinical studies for infant stroke, hearing loss and spinal cord injuries are expected to launch next year.

CBR Sees More Family Members Contributing to Family Banking

The company also reports that its programs designed to help expectant parents manage the expense of family banking have contributed to increased enrollments. In the third quarter, enrollments that had at least one or more “third-parties” contributing to the cost of cord blood banking increased at an annualized rate of 46 percent. In most cases, these are the grandparents-to-be or other relatives of the newborn. Friends and co-workers are also offering to contribute to banking the baby’s cord blood as a gift.

“The fact that we’re seeing clients receive support from family and friends points to the increasing awareness of the value of banking a baby’s cord blood,” said Moore. “Especially at a time when the economy is tight, we are pleased to see that parents are continuing to invest in cord blood banking and making this important health resource available to their children.”

About Cord Blood Registry

Cord Blood Registry® (CBR®) is the world’s largest cord blood stem cell processing and cryopreservation service and provides families guaranteed access to genetically-related stem cells that are viable for medical use. CBR was the first family bank accredited by AABB (formerly the American Association of Blood Banks) and is the most recommended cord blood bank by obstetricians. CBR has processed and stored cord blood collections for more than 245,000 newborns throughout the world. In 2008, the company has released 39 client cord blood units for specific therapeutic use – nearly a unit per week – which is more than any other family cord blood bank. The company's research and development efforts are focused on helping the world’s leading researchers advance regenerative medical therapies using cord blood stem cells as well as continuing to introduce industry-leading technical innovations for stem cell collection, processing and storage that optimize quality and cell yield. Additionally, CBR facilitates collection of donated samples, available for research programs worldwide that are focused on stem cell expansion and other cord blood stem cell-based therapies. For more information about CBR, visit www.cordblood.com.

Banking cord blood does not guarantee that the cells will provide a cure or be applicable for every situation. For inherited genetic conditions, the child will not be able to use his or her own stem cells. A matched sibling's stem cells would be the first choice. Ultimate use will be determined by the treating physician. Treatment for brain injury and juvenile diabetes is experimental and currently requires the use of your own cord blood. Medical treatments using family banked cord tissue are in early research and are not available today; there is no guarantee that therapies will be developed in the future.
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