SANTA MONICA, Calif., Nov. 17 Cord Blood America,Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cellpreservation company (http://www.cordblood-america.com ) focused on bringingthe life saving potential of stem cells to families nationwide andinternationally, said today that its founder and CEO, Matthew Schissler, inreviewing the year's financial performance, predicted that 2009 will be anexcellent, milestone year for stem cell companies, including CBAI.
"The announcement that the incoming Obama Administration will lift thecurrent Administration's ban on Federal funding for research on embryonic stemcells line is the breakthrough the industry and its investors have beenwaiting for," Mr. Schissler said. "We are very careful to explain that wedon't deal with embryonic cells. Cord Blood America collects only umbilicalcord blood stem cells at birth. But if researchers can make continuedprogress and additional discoveries in the use of stem cells to fight diabetes,cancer or heart disease, the number of people wanting to bank their baby'sstem cells will increase dramatically."
Mr. Schissler said Cord Blood America focused in 2008 on the future and onbecoming purely a stem cell company. "Our de-emphasis on an un-relatedbusiness to stem cells reduced revenues, from $5.7 million to $3.3 million forthe first nine months, however it means we've streamlined our operations tofocus on more profitable sectors."
"It is important for our shareholders to understand that we arepositioning Cord Blood America to be a key part of what we believe will be anexcellent future for the stem cell industry. We know now how many lives arebeing saved through the use of umbilical cord blood stem cells in thetreatment of leukemias and other blood diseases. We are confident many, manymore will be saved in the future," Cord Blood America's founder said.
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) is the parent company ofCorCell, which facilitates umbilical cord blood stem cell preservation forexpectant parents and their children. Its mission is to be the most respectedstem cell preservation company in the industry. Collected through a safe andnon-invasive process, cord blood stem cells offer a powerful and potentiallylife-saving resource for treating a growing number of ailments, includingcancer, leukemia, blood, and immune disorders. To find out more about CordBlood America, Inc. (OTC Bulletin Board: CBAI), visit our website atwww.corcell.com. For investor information, visit www.cordblood-america.com.Because of steps taken in 2008, Cord Blood America is reporting: -- Gross profits for the first nine months have increased to $1.8 million, a 54 percent margin, compared to a 42 percent margin in 2007. -- SGA is down nearly $900,000, a 23 percent savings. -- Loss from operations is down nearly 20 percent. -- Loss per share is down 60 percent, from 0.05 to 0.02.
SOURCE Cord Blood America, Inc.