Sir Richard Branson will launch his new business venture by offering parents the opportunity to store stem cells from their children’s umbilical cords.
The company will operate under the Virgin brand and will put blood from the umbilical cord into cold storage. Stem-cell storage saves human blood from the placenta or umbilical cord after birth. This blood is rich in hematopoietic stem cells, which are capable of adapting in the body and replacing damaged or diseased cells.
Scientists believe the stem cells are useful to treat conditions such as Parkinson’s disease and cancer.
A handful of UK companies already offer such a service – but obstetricians and midwives say there is “insufficient evidence” to recommend the practice. Many parents of new born children have already used stem-cell storage. The parents are provided with collection kits at the time of birth of their child. The kits are then taken for processing and storage to companies who deal in the business.
Virgin says its service is unique because it will offer a charitable element, allowing the NHS to use some of stem cells the company stores.