Stem Cell Industry Expert Praises, Encourages Continued Progress on Legislation to...

Mon Jul 6, 2009 5:40pm EDT
 
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Stem Cell Industry Expert Praises, Encourages Continued Progress on
Legislation to Promote Benefits of Cord Blood
--Cryo-Cell Inc. CEO Mercedes Walton Anticipates Benefits from Recent and
Proposed Legislation Including H.R. 1718 and H.R. 2107--

OLDSMAR, Fla., July 6 /PRNewswire-FirstCall/ -- Mercedes Walton, CEO of
Cryo-Cell International, one of the largest and most established family cord
blood banks, is praising legislative progress to date and encouraging
continued momentum for existing bills through the second half of the year. 
H.R. 1718, the "Family Cord Blood Banking Act," and H.R. 2107, the "Cord Blood
Education and Awareness Act of 2009" would continue to build on the progress
from the first half of the year to enable and promote the continued research,
public awareness and tax benefits related to storing and using cord blood, all
of which provide great benefit to families across America.

In early March, President Obama paved the way for progress by signing an
executive order to remove barriers of responsible stem cell research.  Later
that month, U.S. Congressman Ronald Kline sponsored H.R. 1718, a proposed bill
to provide significant tax benefits for the costs associated with umbilical
cord blood banking.  H.R. 1718 would amend an existing tax law in order to add
these services to a list of qualified medical expenses that may be paid for
with pre-tax dollars, or be deducted from taxable income. 

The promise of continued progress came in late April, when Congresswoman
Jackie Speier introduced H.R. 2107, the "Cord Blood Education and Awareness
Act of 2009." 

The proposed legislation, which was referred to committee in early June,
directs the Secretary of Health and Human Services to conduct a public
education campaign on umbilical cord blood stem cells.  The campaign would be
aimed to develop methods to educate expectant parents about their options for
banking or donating their child's cord blood.

H.R. 2107 also seeks to bring healthcare professionals up-to-date on the value
of cord blood banking and would make grants available to reach crucial
segments of the population, such as minority communities and families with a
genetic history of treatable diseases.

"This year's encouraging volume of activity is testament to the growing
acknowledgement of the benefits of stem cells, including non-controversial
sources such as umbilical cord blood," says Cryo-Cell CEO Mercedes Walton. 
"As we reach the midpoint in the year it's a great time to reflect on the
important progress that has been made, and to ensure that we maintain the
positive momentum toward change that will benefit America's families today and
for decades to come." 

"We are encouraged and grateful on behalf of the families who may soon be able
to more readily learn of the potential life-saving benefits of banking their
baby's cord blood, and have the opportunity to realize tax benefits as they
would other medical costs," said Walton.  "Every day, all of us at Cryo-Cell
are motivated by the stories of families who have been touched by the miracle
of stem cells, and by the rapid progress being made by the scientific
community," adds Walton.  

Currently, stem cells from cord blood treat more than 75 such conditions,
including sickle cell disease, several types of acute and chronic leukemias,
Non-Hodgkin's lymphoma, and Hodgkin's disease.  Emerging science shows great
promise for potential treatments including spinal cord injury, heart disease,
breast cancer, stroke, diabetes, Parkinson's disease, Alzheimer's disease and
many more. 

A pioneer in the non-controversial stem cell arena, Cryo-Cell has served over
175,000 clients worldwide and led the cord blood banking industry with the
successful establishment of a state-of-the-art Good Manufacturing
Practice/Good Tissue Practice (cGMP/cGTP) laboratory processing facility well
ahead of emerging regulation and competition.

About Cryo-Cell International, Inc. (OTC Bulletin Board: CCEL.OB)
Based in Oldsmar, Florida, with over 175,000 clients worldwide, Cryo-Cell is
one of the largest and most established family cord blood banks. ISO 9001:2000
certified and accredited by the AABB, Cryo-Cell operates in a state-of-the-art
Good Manufacturing Practice and Good Tissue Practice (cGMP/cGTP)-compliant
facility. Cryo-Cell is a publicly traded company. OTC Bulletin Board Symbol:
CCEL. For more information, please call 1-800-STOR-CELL (1-800-786-7235) or
visit www.cryo-cell.com. 



 

SOURCE  Cryo-Cell International, Inc.

Monica Kozak, +1-203-545-1055, monica@horizonmarketing.com

 

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