CBID’s MSE team tied 1st place at the 2011 Georgia Bowl Business Plan Competition
On February 4-5th 2011, the CBID MSE team called Thera Cord participated in the Georgia Bowl business plan competition hosted by Kennesaw State University that attracted MBA students from Johns Hopkins, Georgia Tech, University of Manitoba, and many others. The Georgia Bowl is the state of Georgias largest and one of the countrys oldest intercollegiate competitions for entrepreneurs.
Team TheraCord presented their business plan based on their system to improve the process of umbilical cord blood collection. Leukemia, diabetes, and numerous other diseases affecting over 300 million people worldwide have one thing in common: they all have the potential to be treated using stem cells. Cord blood collected from the umbilical cord and placenta after live birth represents a viable source of stem cells because it contains one of the highest concentrations of stem cells in any tissue, yet it is commonly discarded because there is no adequate method of collection. Current methods rely on gravity to drive the process, failing to meet the minimum volume and cell threshold 60% of the time. TheraCords system uses active mechanisms to more than double the current stem cell yield. Higher quality cord blood units will lead to improved outcomes for patients in the future. Their goal is to become the standard of care for cord blood collection in every hospital in every birth. By solving the collection problem, TheraCord will seize the young and rapidly growing cord blood industry and create a commodity market for stem cells that can treat 300 million people worldwide.
The teams clinical sponsor is Edith Gurewitsch, an associate professor of gynecology and obstetrics in the Johns Hopkins School of Medicine.