SAN BRUNO, Calif., Dec. 30 /PRNewswire/ -- Coming to the end of a year of
geometric growth, Cord Blood Registry (CBR), the world's leading newborn stem
cell bank, has won a second decisive victory against PharmaStem Therapeutics,
Inc.'s claims of patent infringement relating to CBR's newborn stem cell (cord
blood) preservation business.
U.S. District Judge Gregory M. Sleet, who had already overturned a multi-
million dollar jury verdict awarded to PharmaStem Therapeutics, Inc., dealt a
further setback when he denied PharmaStem a second trial in the patent case.
Judge Sleet ruled that CBR did not infringe on either of the two patents that
the jury relied on in their October 2003 verdict. "There was no legally
sufficient evidentiary basis for a reasonable jury to find that the companies
infringed the patents," Sleet wrote in an eight-page opinion. Both PharmaStem
patents are currently under re-examination by the Patent and Trademark Office.
"We are pleased that the court recognizes the overwhelming evidence
presented and has denied a new trial," says Stephen Grant, VP and co-founder
of CBR. "The decision enables us to keep our focus on the rapidly expanding
market demand and the high quality, lifesaving service that we provide."
CBR's 35th transplant is scheduled to take place this week in California.
As of December 2004, CBR had provided more clients with stem cells for medical
therapies than all other family cord blood banks combined. Studies have shown
that survival rates can more than double when genetically related newborn stem
cells are used for patients compared to unrelated newborn stem cells. "Our
service is a critical part of giving families access to the best medical
treatments available," says Grant. "The PharmaStem patents threatened to
require a licensing fee for each unit stored, which would have increased costs
to families."
Derived from the blood remaining in the umbilical cord following birth,
newborn stem cells are used to treat serious diseases such as leukemia,
lymphoma, and sickle cell anemia. Because it can only be collected at birth, a
growing number of expectant parents are arranging to store their newborns'
stem cells as both "biological insurance" in case of future illness and as a
"biological resource" to take advantage of new treatments using their
regenerative power for treating diseases like diabetes and Alzheimer's, and
repairing damage from heart attack, stroke, and even spinal cord injury.
Recently, newborn stem cells made headlines in the highly publicized story
of a paralyzed 37-year-old South Korean woman who was able to walk for the
first time in 20 years after being treated with newborn stem cells. (Visit
http://www.cordblood.com to see more about this story.) This and other news about
emerging therapies has lead to an increase in demand for CBR's cord blood
banking service. "Our enrollments are up more than 100% over this time last
year," says Johnnie Domingue, CBR's CFO and COO.
About Cord Blood Registry
Cord Blood Registry is 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 ability 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. Cord Blood Registry is a registered trademark of Cbr
Systems, Inc.
Media Relations Contact: Rita Kennen, Cord Blood Registry
1-800-588-6377, Ext. 239
rkennen@cordblood.com
Website: http://www.cordblood.com/
SOURCE Cbr Systems, Inc.
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Related links:
http://www.cordblood.com
CONTACT:
Rita Kennen of Cord Blood Registry,
1-800-588-6377, ext. 239, or rkennen@cordblood.com
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