Mar. 30, 2010
Cord Blood America, Inc. (“CBAI”) has announced on March 31, 2010 the signing of a License and Cooperation Agreement with Chinese AXM Pharma, Inc., a China pharma and nutraceutical company.
According to the agreement, CBAI will grant AXM a license to use its proprietary technology and know-how for the processing and storage of cord blood, as well as provide consulting and training. In return, CBAI will receive a 10% equity stake in AXM Pharma's stem cell subsidiary and an 8.5% royalty for all cord blood sales.
The companies plan to begin processing stem cell samples by January 1, 2011, subject to receipt of regulatory approvals.