MOSCOW, March 31, 2003 (LifeSiteNews.com) – The Russian company Cryomedica has opened the country's first stem cell bank, attracting customers with the promise that they will be able to preserve their children's genetic material for future use in possibly fighting diseases.
Cryomedica director general Paul Backer told reporters that the company will be able to store 4,000 units of umbilical cord blood and will be “like a Swiss bank for stem cells, where parents have an account number and access to the equivalent of a locker, or box.” He called on investors to augment an anticipated US$1 million the company expects to receive in its first year.
Sixteen stem cells bank exist in the United States, with Britain opening its first last year. China announced similar plans a few months ago.
For local coverage:
https://english.pravda.ru/comp/2003/03/29/45308.html