New Bill Gives Boost to Sacramento Company
On December 17th, HR 2520 was signed into law by President Bush. This bill, The Stem Cell and Therapeutic Research Act of 2005, should have a very positive effect on local company, Thermogenesis (KOOL).
The bill will provide $265M for stem cell therapy, cord blood and bone marrow transplant. $79M is authorized for the collection and storage of cord blood stem cells with the goal of reaching an inventory of 150,000 units. And $186M is reauthorized over the next five years to the national bone marrow transplant system and combines both systems (cord blood and bone marrow) under one program.
Thousands of patients have been successfully treated with cord blood stem cells for more than 67 diseases including Leukemia and Sickle Cell Anemia.
Thermogenesis has two products directly linked to cord blood stem cell collection and storage. The BioArchive System, an automated robotic cryogenic device, which is used by major cord blood stem cell banks in 26 countries as a key enabling technology for cryopreserving and archiving cord blood stem cell units for transplant. And the AutoXpress System, is a semi-automated robotic device and companion sterile closed blood processing disposable, to harvest stem cells from cord blood.
Thermogenesis has actively supported the legislation since its introduction in 2003.
Gillian Parrillo
The Sacramento Executive
