HONG KONG, Jan. 28, 2015 /PRNewswire/ – China Cord Blood Corporation (CCBC, NYSE: CO), China's first and largest umbilical cord blood bank, and Cord Blood Registry® (CBR®), the world's largest newborn stem cell company, today entered into a memorandum of understanding regarding their strategic collaboration in China and the United States. The two prominent cord blood banks will share data on cord blood collection, processing and storage to advance international standards. The companies will also work together under the memorandum, to develop a family disease registry for CCBC's clients in China and jointly support newborn stem cell-related clinical trials in the U.S. and China.
This important collaborative effort achieves a milestone in bringing the two largest cord blood banks in the world into close concert for the benefit of their client families, future patients and the stem cell clinical research community. It also presents an opportunity to aid families impacted by certain diseases across an international and racially diverse population. In the aggregate, the two companies have collected and stored samples from an estimated 1 million newborn children worldwide, accounting for nearly half of all cord blood units preserved globally.
"CBR and CCBC are both committed to bringing forward clinical applications of newborn stem cells for a host of conditions that could benefit from regenerative medicine," said Geoffrey Crouse, President and Chief Executive Officer of CBR. "Through this collaboration, we will be able to share our expertise and resources and improve mutual access to crucial research in China and the U.S. This first of its kind partnership is a significant step toward raising global awareness of the importance of newborn cord blood hematopoietic stem cell research."
Kam Yuen, Chairman of CCBC commented, "This memorandum brings together two cord blood banks that collectively serve approximately 1 million clients and represents the most significant joint effort to date in the global cord blood banking industry. Through this collaboration, we hope to create new possibilities to service clients and patients, and provide greater support to the stem cell clinical research communities in both China and the U.S."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information, please visit our website at www.chinacordbloodcorp.com.
About Cord Blood Registry
Cord Blood Registry® (CBR®) is the world's largest newborn stem cell company. Founded in 1992, CBR is entrusted by parents with storing more than 500,000 cord blood and cord tissue units. CBR is dedicated to advancing the clinical application of newborn stem cells by partnering with leading research institutions to design and conduct FDA-regulated clinical trials for conditions that have no cure today. For more information, visit cordblood.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, performance and results of operations, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in the filings from time to time with the U.S. Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact Information:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
William Zima
China Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
Email: William.zima@icrinc.com
Cord Blood Registry
Tina Amirkiai
FleishmanHillard
Tel: +1 (415) 318-4262
Email: tina.amirkiai@fleishman.com
