BOCA RATON. Fla., Nov. 8, 2006 (PRIMEZONE) -- StockMarketNewsAlert.com issues New Trade Alert for BioStem, Inc. (OTCBB:BTEM). According to M. D'Alonzo at First Equity Group Inc., recent news flow from the company has been very positive, "Cryobanks International, Inc. and UMass Memorial Medical Center announce a signed Cord Blood Donation Program."
Cryobanks International, Inc. (CII), a pioneer in the field of cord blood processing and storage, reported today that it has completed negotiations with UMass Memorial Medical Center to establish Massachusetts' newest umbilical cord blood donation program at the Medical Center's Memorial Campus, located in Worcester, MA.
Mary Herlihy, M.D., chief of general obstetrics and gynecology at UMass Memorial Medical Center, spearheaded the hospital's move to re-establish an umbilical cord blood donation program. Working with the physicians, delivery nursing staff and residents in the Women's Center, UMass Memorial has involved its entire obstetrics unit in the effort.
"I am very excited that UMass Memorial is taking a leadership role in this important service. I believe we are the only hospital in the state offering a donation program to our patients. Donating cord blood is an option that many mothers are not aware of, and that is often not easily available, so the current practice is to unfortunately discard this valuable resource at birth. We are thrilled to be able to change and anticipate cord blood donation becoming common practice," said Dr. Herlihy.
Cord blood banking has been available since the early 1990s. Cryobanks International is the only National Marrow Donor Program (NMDP) accredited cord blood bank that offers a national collection model for donated cord blood units. Umbilical cord blood is rich in important blood-producing stem cells that have been proven to treat more than 70 diseases and illnesses. These stem cells are immunologically immature, resulting in fewer complications to recipient patients when used for treatments which bone marrow stem cells have traditionally been used for, such as Acute Lymphocytic Leukemia (ALL).
Dr. Herlihy added, "The range of illnesses and diseases that umbilical cord blood has been used to treat is just amazing. Donating a child's cord blood is risk free to both mother and child, it's painless, and it's a simple procedure. What a great story for a mother to be able to share with her child later on in life -- a story of giving."
Dwight Brunoehler, CEO and founder of CII, commented, "We know that the general public would like to be better informed about their umbilical cord blood options, and donation in particular. By partnering with UMass Memorial we will be able to help provide the information they are seeking."
Mothers-to-be who are interested in donating their cord blood should enroll no later than the 34th week of their pregnancy. They can arrange for donation through their physician, through the Women's Center at UMass Memorial, or with the Cryobanks International local Worcester donor coordinator at 508-854-8282. They can also find more information on the Cryobanks International web site www.cryo-intl.com.
About Cryobanks:
Cryobanks International is a corporation located in Altamonte Springs, Fl., which is to be acquired by BioStem, Inc. (OTCBB:BTEM). The Company is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. The units of cord blood (CB) are processed and stored by the company for use in unrelated transplants (where the donor is a histocompatible match, but is anonymous and unrelated to the recipient) and for personal storage and use. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant (BMT). There is tremendous potential need for CBTs in the United States and worldwide. Cryobanks International is well poised to help meet that need, equipped with an inventory of over 9,000 cord blood units. For more information about Cryobanks International call 1-800-869-8608 or visit the website at www.cryo-intl.com.
Safe Harbor Statement
This press release contains "forward-looking statements" by BioStem, Inc. These statements relate to future events or financial performance and transactions, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements, to be materially different from those contemplated by the forward-looking statements. There can be no assurance that the acquisition described herein will successfully close. We undertake no ongoing obligation, other than that imposed by law, to update these statements. Factors that could affect results, levels of activity, performance or achievements and cause them to materially differ from those contained in the forward-looking statements include the failure to complete the acquisition of Cryobanks, and other factors that can be found in BioStem's filings with the Securities and Exchange Commission, which can be found at www.sec.gov.
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