The lab, set up at an investment of NIS 2.5 million, will begin operating in November.
Cryo-Cell Israel Ltd. and Tel Aviv Sourasky Medical Center (Ichilov Hospital) will jointly develop a laboratory for the preservation and processing of stem cells. The company said the laboratory would be based on Cyro-Cell International Inc.’s (Nasdaq: CCEL) experience umbilical blood cell work in Europe. Tel Aviv Sourasky Medical Center Institute of Hematology Prof. Ella Naparstek will supervise the laboratory, which will begin operating in November. NIS 2.5 million was invested in the laboratory.
Stem cells are collected at birth. They can currently be used to treat various diseases of the blood, especially leukemia among children. In future, stem cells could have many more applications. Umbilical blood banks are different from public blood banks, which store blood from donors without documenting them. Umbilical blood banks document the donor, so the umbilical cells have a high probability of matching members of the donor’s family.
Later, Cryo-Cell will offer the preservation of bone marrow cells and blood stem cells at the laboratory. These cells are used also used in the treatment of blood diseases, and could have other uses as well. Healthy persons will be able to preserve cells for their own use in future.
Published by Globes [online], Israel business news - www.globes.co.il - on September 11, 2006
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