ITALY – Financing to preserve stem cells abroad

(Stem Cells News image)

Banks are assisting families with financing so they can preserve umbilical cord stem cells that could be used to fight many diseases and malignant tumors like leukemia, neuroblastoma, and Hodgkin’s disease, and multiple myeloma. This has happened so far in Liguria and the Piedmont, where the Credito Cooperativo bank in Pianfei and Rocca de’ Baldi are present.

The project by an Italian bank in collaboration with Swiss company, Genico, calls of reduced financing rates for expenses related to the cryoconservation of umbilical cord stem cells. About 2,500 euros are needed to collect the cells, transport them to a biobank abroad, and preserve them for 30 years.

The cost will be covered in three years with a variable rate based on the three-month Euribor, and a spread of 1pct. The initiative, explained the bank, “is part of a broader project that calls for the distribution of credit with reduced rates and the development of a policy of responsibility, including many social interventions for people living in Italy.

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