SAN BRUNO, Calif., Oct. 27 /PRNewswire/ -- Cord Blood Registry ("Cbr") announced today that it has entered into a settlement agreement with Viacord, a division of Viacell, Inc. regarding litigation involving marketing and advertising claims. Under the terms of the settlement agreement, no financial payment will be made by either company, and both companies will dismiss all outstanding claims. No additional terms of the settlement were disclosed.
"We are pleased with the outcome of this settlement," said Tom Moore, CEO of Cbr.
Cbr is the world's largest newborn stem cell bank. Cbr's laboratory has been collecting and processing newborn stem cells for family banking since 1992. The company has recorded profits and positive cash flow from its operating activities since 1999, with 106% growth in units banked for the first nine months of 2005 as compared with the first nine months of 2004. Over 350,000 units of cord blood for more than 105,000 newborns are preserved at Cbr's new 80,000-square-foot stem cell facility in Tucson, Arizona. The company's research and development is focused on advancing the collection, processing, and storage methods to deliver the highest quality sample and cell yield. Additionally, Cbr provides donated research samples which are made available for the nearly 200 research programs worldwide that are focused on cord blood stem cell expansion and cell-based therapies. For more information, visit http://www.cordblood.com, or call 1-888-CORD BLOOD.
Cord Blood Registry is a registered trademark of Cbr Systems, Inc.
Media Relations Manager
650-635-1420 ext. 239
Cord Blood Registry
CONTACT: Rita Kennen, Media Relations Manager of Cord Blood Registry,+1-650-635-1420, ext. 239, or firstname.lastname@example.org