Cryo-Cell Renews Upromise Industry-Exclusive Agreement
Families Can Invest Simultaneously in Future Healthcare and Education
OLDSMAR, Fla., Nov. 13 /PRNewswire-FirstCall/ -- Cryo-Cell International Inc., one of the world's largest and most established private cord blood banks and industry leader in stem cell innovation, recently renewed their agreement as an exclusive retailer with Upromise(R) the largest private source of college funding contributions in America. Since 2004, Cryo-Cell has been the only cord blood bank in the United States to offer enrollment in the Upromise program and has contributed nearly $250,000 to Upromise member accounts. Under the renewed agreement, parents who use their Upromise-registered credit card to pay for their cord blood banking enrollment and/or storage fees will be awarded with 2 percent college savings.
"Cryo-Cell is very proud to be the first and only retailer in the cord blood banking industry to offer Upromise," said Michelle Kay, Director of Marketing. "During challenging economic times, it is particularly meaningful that Cryo-Cell families have the significant opportunity to invest simultaneously in their family's future healthcare and educational needs."
Cord blood stem cells have already been used to treat more than 75 diseases, including numerous types of malignancies, anemia, inherited metabolic disorders and deficiencies of the immune system. To date, Cryo-Cell has contributed nearly a quarter of a million dollars to the Upromise accounts of their clients. Cryo-Cell plans to co-market its services to the large and fast-growing installed base of over 9 million Upromise members by providing timely information and updates on the potential of regenerative stem cell therapies to treat a vast number of debilitating diseases and disorders.
"Cryo-Cell is committed to helping Americans achieve their educational goals," said Kelly Christiano, Executive Vice President of Partner Management for Upromise. "When parents are considering cord blood banking, they should know Cryo-Cell not only helps them with future healthcare, but also by putting money for college in their Upromise account."
About Cryo-Cell International, Inc. (OTC Bulletin Board: CCEL.OB)
Based in Oldsmar, Florida, with over 160,000 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 http://www.cryo-cell.com.
Launched in April 2001, today Upromise is the largest private source of college funding contributions in America, with more than 9 million members and $450 million in member rewards. Membership is free and can help families save money for college while making everyday purchases of products and services at more than 21,000 grocery and drug stores, 14,000 gas stations, 8,000 restaurants, as well as thousands of retail stores, and more than 600 online shopping sites. Upromise partners include Citi(R), ExxonMobil Corporation, Bed Bath & Beyond(R), McDonald's(R), JCPenney.com, LandsEnd.com, Sears.com, and hundreds of others. Upromise also makes it easy for families to start their own college savings strategy through tax-advantaged 529 college savings plans offered through Upromise Investments, Inc. or by using Upromise contributions to help pay down eligible student loans. Upromise is a wholly owned subsidiary of SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, the nation's leading provider of saving-and-paying-for-college programs. Upromise is headquartered in Newton, Mass., and has more than 350 employees. For additional information, visit http://www.Upromise.com.
Statements wherein the terms "believes", "intends", "projects" or "expects" as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include the uncertainty of domestic and international market acceptance of any potential service offerings relating to types of stem cells other than cord blood stem cells, including the C'elle service, given that menstrual stem cells and other new stem cells have not yet been used in human therapies, and treatment applications using such stem cells are not likely to be developed and commercialized for many years and are subject to further research and development; the need for additional development and testing before determining the ultimate commercial value of the Company's intellectual property relating to the menstrual stem cells; the need to complete certain developments, including completion of clinical validation and testing, before any new process other than C'elle can be commercialized, and the Company's development of its final business and economic model in offering any such service; any adverse effect or limitations caused by recent increases in government regulation of stem cell storage facilities; any increased competition in our business; any decrease or slowdown in the number of people seeking to store umbilical cord blood stem cells or decrease in the number of people paying annual storage fees; any adverse impacts on our revenue or operating margins due to the costs associated with increased growth in our business, including the possibility of unanticipated costs relating to the operation of our new facility; any technological breakthrough or medical breakthrough that would render the Company's business of stem cell preservation obsolete; any material failure or malfunction in our storage facilities; any natural disaster such as a tornado, other disaster (fire) or act of terrorism that adversely affects stored specimens; the costs associated with defending or prosecuting litigation matters and any material adverse result from such matters; decreases in asset valuations; any continued negative effect from adverse publicity in the past year regarding the Company's business operations; any negative consequences resulting from deriving, shipping and storing specimens at a second location; and other risks and uncertainties. The foregoing list is not exhaustive, and the Company disclaims any obligations to subsequently revise any forward- looking statements to reflect events or circumstances after the date of such statements. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-KSB, Quarterly Reports on Form 10-QSB and any Current Reports on Form 8-K filed by the Company.
Contact: General Media Inquiries Kristin O'Neill 312-233-1295 firstname.lastname@example.org Financial Media Inquiries Mona Walsh 212-704-4598 email@example.com
SOURCE Cryo-Cell International Inc.
Released November 13, 2008