SAN BRUNO, Calif., March 2 /PRNewswire/ -- Cbr Systems, Inc. (Cord Blood
Registry), the leading provider of services for the storing and processing of
newborn cord blood stem cells, announced today that it has filed a complaint
against ViaCell, Inc. (Nasdaq: VIAC) and its wholly owned subsidiary Viacord,
Inc. for false and misleading advertising and related unlawful conduct. The
complaint, filed on February 25, 2005 in the Federal District Court in San
Francisco, alleges that ViaCell and Viacord have disseminated and continue to
disseminate false and misleading advertising to the public in an effort to
promote their umbilical cord blood stem cell preservation services. Cord blood
banking is a process that allows parents to have the stem cells from a
newborn's cord blood saved for potential future medical uses.
"Cord Blood Registry is the leader in this fast-growing market and enjoys
a position of being the world's largest family cord blood bank with
triple-digit-growth in recent periods," says Stephen M. Grant, Vice President
of Communications for CBR. "We have spent a decade building a strong
reputation of trust and are highly recommended by the nation's leading
obstetricians for cord blood stem cell services. Viacord's unfounded claims in
these areas are damaging to the CBR brand and misleading to consumers."
Additional false statements made by Viacord regarding their pricing and
consumer guarantee, as well as unsubstantiated claims about their cell
recovery rates and storage systems, are among other complaints named in the
lawsuit.
CBR filed a complaint in the Federal Court as a final step to gain
compliance from Viacord in correcting the misleading and untruthful statements
to physicians and consumers in their marketing materials. "Although we would
have preferred to handle this outside of the legal system, Viacord failed to
correct the information in a timely and effective manner," says Grant.
The claim can be viewed at http://www.cordblood.com/viacord-complaint .
About Cord Blood Registry
Cord Blood Registry is a registered trademark of Cbr Systems, Inc., the
leader in newborn stem cell processing and cryopreservation for familial use
in transplantation and regenerative medicine. The stem cells preserved by CBR
are collected immediately after the birth of a newborn and are then available
to be used in treatments for the newborn, siblings, and any compatible genetic
family member. Once transplanted, the cells have the potential to repair
damaged or diseased tissues with little risk of rejection and increased
long-term survival. The company's research and development is focused on
advancing the collection, processing, and storage methods to optimize quality
and cell yield. Additionally, CBR facilitates collection of donated research
samples, available for the nearly 200 research programs worldwide that are
focused on stem cell expansion and cell-based therapies. For more information,
visit http://www.cordblood.com , or call 1-888-CORD BLOOD.
Media Relations Contact: Rita Kennen, Cord Blood Registry,
1-800-588-6377, Ext. 239, or rkennen@cordblood.com
SOURCE Cbr Systems, Inc.
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Related links:
http://www.cordblood.com
CONTACT:
Rita Kennen, Cord Blood Registry,
1-800-588-6377, Ext. 239, or rkennen@cordblood.com
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