The briefing was hosted by Congressmen Chris Smith (R-NJ) and Artur Davis (D-AL).  Smith is the prime author of the "Cord Blood Stem Cell Act of 2005," HR 596, bipartisan legislation to create a connected national network of public umbilical cord banks.  The legislation authorizes $15 million in federal funds during Fiscal Year 2006 and $30 million in FY 2007 to enhance the collection, processing, testing, freezing and storing of cord blood units that would then be made available for transplantation treatments.  

“This bill will help turn medical waste into medical miracles for thousands of patients who otherwise have no hope to recover from lethal diseases,” Smith said.  “In addition to existing treatments for cancers, genetic diseases and other conditions, recent scientific developments suggest that human stem cell research based on cord blood stem cells may lead to treatments of many other debilitating conditions from Parkinson's to diabetes to heart disease.”

“This is going to be a critical investment in health.  We need to increase the available inventory of cord blood stem cell units to assure opportunity for all Americans, regardless of race, to find a suitable match for transplantation.  A national inventory of at least 150,000 cord blood stem cell units would allow 80-90% of all American patients in need to find a good to excellent match for transplantation.  We should not wait on providing such a valuable resource to those who need this treatment,” concluded Smith.