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. (Nasdaq: VIAC) 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.
About 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.
Contact:
Rita Kennen
Media Relations Manager
650-635-1420 ext. 239
rkennen@cordblood.com
SOURCE Cord Blood Registry
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Related links:
http://www.cordblood.com
CONTACT:
Rita Kennen, Media Relations Manager of Cord
Blood Registry, +1-650-635-1420, ext. 239, or
rkennen@cordblood.com
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