February 1, 2007 -- London, England (AHN) - On Thursday Virgin founder Sir Richard Branson geared up to launch his stem-cells and biotech business. The new venture allows parents the ability to store the cells from their child’s umbilical cord. Scientists believe the cells are useful to treat conditions such as Parkinson’s disease and cancer.
Branson’s move follows his earlier two initiatives aimed at space technologies. He has already launched Virgin Galactic that claims will it will take tourists into space. His other venture Virgin Atlantic, has plans to develop environmentally friendly bio-fuels.
According to BBC reports, many parents of new born children have already used stem-cell storage. The parents are provided with collection kits at the time of birth of their child. The kits are then taken for processing and storage to companies who deal in the business.
Stem-cell storage saves human blood from the placenta or umbilical cord after birth. This blood is rich in hematopoietic stem cells, which are capable of adapting in the body and replacing damaged or diseased cells.
The procedure is also advised to families at high risk of certain medical conditions - such as Fanconi anaemia - which could be treated with a transplant.
The controversial procedure is gaining popularity in the United States with many private firms intervening into the business. Many celebrities have also opted for cord blood registration.
However, it is illegal to have private storage of stem cells in France and Italy. The method however is opposed by the European Group on Ethics in Science and New Technologies, which is a European Commission body.
Nidhi Sharma - All Headline News Staff Writer
