CORD BLOOD BANKING SERVICES MARKET ANALYSIS

Market News

Global Cord Blood Banking Services Market: Key Developments

On August 10, 2020, CBR Systems, Inc., a U.S.-based private newborn stem cell bank partnered with Nantkwest Inc., a U.S.-based clinical-stage Immunotherapy Company to develop a COVID-19 treatment leveraging newborn stem cells. CBR will provide research-donated umbilical cord tissue-derived mesenchymal stem cells (MSCs) to NantKwest for efficient and robust expansion utilizing their proprietary modular, closed bioreactor system from NantKwest affiliate ImmunityBio, Inc. Such applications of cord blood can increase demand of cord blood bank in forecast period.

On October 13, 2020, American Cryostem Corp, a U.S.-based biotechnology company, announced that it has entered into an agreement with BioTherapeutic Labs (BTL) Corp., a U.S.-based Umbilical Cord Tissue Manufacturing Company. The Agreement includes BTL marketing CRYO's products and services, and collaborative R&D efforts related to developing and improving protocols utilizing both CRYO's ATCell autologous mesenchymal stem cells and BTL's human umbilical cord-based product lines. Such agreements will increase market reach of cord blood services and increase demand of market.

On October 14, 2021, Americord Registry LLC, a U.S.-based biotechnology company, announced successful opening of its new research and development (R&D) and cell processing laboratory in New York City. The new R&D center is to drive innovation in regenerative medicine, providing solutions to families facing challenging clinical needs. Product discoveries will advance the use of stem cells in clinical research for applications ranging from cancers to neurologic and auto-immune disorders. New R&D centers will increase the innovative application of cord blood stem cells for disease treatment.

On September 23, 2021, CBR Systems, Inc., a U.S.-based private newborn stem cell bank, announced that more than 10,000 families have been enrolled in the Newborn Possibilities Program (NPP) offered by the company's newborn stem cell preservation bank, Cord Blood Registry. Children diagnosed with serious conditions and those born with low Apgar scores indicates the potential for future pediatric developmental disability. In such cases preserving their umbilical cord for future use is crucial. Such patients can take advantage of umbilical cord preservation and newborn stem cell treatments through the NPP. The program also supports the training of healthcare providers, which will help them identify infants who could benefit from potential newborn stem cell treatments. This will increase demand for cord blood bank services.