CEDAR KNOLLS, N.J., April 18 /PRNewswire-FirstCall/ -- LifebankUSA, a subsidiary of Celgene Cellular Therapeutics (CCT), today announced plans for a new service to bank stem cells derived from the placenta. Placental-derived stem cells (PDSCs), which have different characteristics from those isolated from cord blood, appear to be highly versatile and have the potential to repair damaged or diseased tissue. In the laboratory, CCT scientists have successfully developed nerve cells, heart cells, cartilage cells, bone cells, and other highly specialized cells from pluripotent stem cells derived from the placenta.
The new Placental-Derived Stem Cell Storage Service will begin on April 24th.
"This new technology of obtaining placental-derived stem cells truly advances our ability to improve clinical outcomes with stem cells and benefits our research capabilities in finding new uses and indications," said Lee Shulman, MD, the Director of Reproductive Genetics at the Northwestern Memorial Hospital in Chicago. "Although the science is early, we believe placental-derived stem cells hold great promise for advancing our understanding and capabilities for treating an expanding number of diseases that today are thought to be untreatable. The ability to cryopreserve these cells today may prove to be extremely valuable in the future."
Placental-derived stem cells represent a versatile new research platform to develop new therapeutic tools for the treatment of a variety of diseases, including diabetes, Parkinson's disease, heart disease, and nerve damage. Only LifebankUSA owns this one-of-a-kind technology to extract these unique types of stem cells from the placenta and preserve them.
"At LifebankUSA we are in a leadership position in this scientific frontier with over six years of experience working with placental stem cells, and what we believe is the largest team of scientists in the world developing the unique biological properties of these cells," said Robert Hariri, MD, PhD, CEO of LifebankUSA and Celgene Cellular Therapeutics. "With our new banking service, we have the ability to collect and preserve placental-derived stem cells when a mother gives birth, offering families an exciting new option."
For the new banking service, the placenta is simply sent to LifebankUSA using procedures already in place. LifebankUSA will then use its proprietary technology to isolate the cells and bank them on behalf of the client family. LifebankUSA is the only stem cell bank with two fully equipped facilities that are both AABB accredited and ISO certified. LifebankUSA has experience preserving umbilical cord blood since 1998. More information about the new service can be found at www.lifebankusa.com/ beginning 4/24/06.
About LifebankUSA
LifebankUSA, is one of the world's top private stem cell banks, providing services for thousands of families worldwide since 1998. The number of units stored at its cryobanking facilities, which are located in Cedar Knolls, New Jersey, and Baton Rouge, Louisiana, is approaching 20,000. It is the only private bank with two fully-equipped facilities that are both ISO certified and accredited by the AABB (formerly known as American Association of Blood Banks), and its comprehensive research operation is one of the largest in the cord blood banking industry.
About Celgene Cellular Therapeutics
Celgene Cellular Therapeutics (CCT), a wholly owned subsidiary of Celgene Corporation, is focused on research studying the potential of stem cell therapy and placental-biomaterials to meet unmet medical needs. CCT's stem cell research utilizes cells derived from the human placenta and umbilical cord - both of which are non-controversial sources of stem cells. Research on placental-derived stem cells by CCT has uncovered a variety of critical biological activities creating opportunities in regenerative medicine. Cell-based therapy offers the possibility of providing disease-modifying outcomes that could potentially treat currently incurable diseases.
About Celgene
Celgene Corporation , headquartered in Summit, New Jersey, is an integrated global pharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. For more information, please visit the Company's Website at www.celgene.com.
This release contains certain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include results of current or pending research and development activities, actions by the FDA and other regulatory authorities, and those factors detailed in the Company's filings with the Securities and Exchange Commission such as 10K, 10Q and 8K reports.
Celgene CorporationCONTACT: Robert Hariri, MD, PhD, CEO, Celgene Cellular Therapeutics,+1-973-753-2530, or Brian P. Gill, Senior Director of PR-IR, CelgeneCorporation, +1-908-673-9530
