"With increasing awareness amongst parents preserving their baby's stem cells, community banking could help increase the inventory by more than 50,000 every year," LifeCell MD and CEO Mayur Abhaya said.
Community banking allows sharing of preserved umbilical cord stem cells amongst the community of parents who preserve their baby's umbilical cord stem cells with the company, LifeCell said in a statement.
The company offers benefits such as zero retrieval cost, open access to any matching unit, immediate availability and a large inventory, thereby increasing probability of getting the right match, it added.