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LifebankUSA™ Announces Service to Bank Placental-Derived Stem Cells

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LifebankUSA, a subsidiary of Celgene Cellular Therapeutics, has announced plans for a new service to bank stem cells derived from the placenta.

Placental-derived stem cells (PDSCs), which have different characteristics from those isolated from cord blood, appear to be highly versatile and have the potential to repair damaged or diseased tissue.

In the laboratory, CCT scientists have developed nerve cells, heart cells, cartilage cells, bone cells, and other specialized cells from pluripotent stem cells derived from the placenta. The new Placental-Derived Stem Cell Storage Service will begin on April 24th.

"This new technology of obtaining placental-derived stem cells truly advances our ability to improve clinical outcomes with stem cells and benefits our research capabilities in finding new uses and indications," said Lee Shulman, MD, the Director of Reproductive Genetics at the Northwestern Memorial Hospital in Chicago.

"Although the science is early, we believe placental-derived stem cells hold great promise for advancing our understanding and capabilities for treating an expanding number of diseases that today are thought to be untreatable."

"The ability to cryopreserve these cells today may prove to be extremely valuable in the future."

Placental-derived stem cells represent a versatile research platform to develop therapeutic tools for the treatment of a variety of diseases, including diabetes, Parkinson's disease, heart disease, and nerve damage.

Only LifebankUSA owns this one-of-a-kind technology to extract these unique types of stem cells from the placenta and preserve them.

"At LifebankUSA we are in a leadership position in this scientific frontier with over six years of experience working with placental stem cells, and what we believe is the largest team of scientists in the world developing the unique biological properties of these cells," said Robert Hariri, MD, PhD, CEO of LifebankUSA and Celgene Cellular Therapeutics.

"With our new banking service, we have the ability to collect and preserve placental-derived stem cells when a mother gives birth, offering families an exciting new option."

For the new banking service, the placenta is simply sent to LifebankUSA using procedures already in place. LifebankUSA will then use its proprietary technology to isolate the cells and bank them on behalf of the client family.