SANTA MONICA, Calif., Nov. 11 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com) focused on bringing the life saving potential of stem cells to families nationwide and internationally, said today that the stem cell industry is surging with the news that President-elect Barack Obama intends to use his executive authority to reverse current policies barring certain stem cell research funded by the Federal government.
Administration officials, including John Podesta, who is heading up the transition team for the nation's next President, have told the media that President-elect Obama will reverse the nation's policies on stem cell research as soon as he takes office in January 2009.
"News of increased stem cell research is welcome and has caused a huge increase in interest on Wall Street and elsewhere in stem cell companies," said Matthew Schissler, founder and CEO. "The movement in the markets solidifies that Wall Street is placing a value on stem cell initiatives by the new administration, and moreover, we believe those values will ultimately reflect in stem cell revenue-generating companies like CBAI."
"We are delighted by this interest because we know what role stem cells can play in solving some of our most intractable health care issues, including cancer, diabetes and heart disease," said Mr. Schissler.
Mr. Schissler plans to post a shareholder letter later this month detailing the benefits stem cell therapies going to market and how these game changing events will positively impact the growth of CBAI's stem cell storage services.
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) is the parent company of
CorCell, which facilitates umbilical cord blood stem cell preservation for
expectant parents and their children. Its
|SOURCE Cord Blood America, Inc.|
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