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Progenics Cord Blood Cryobank Announces Award of FACT Accreditation

Progenics Cord Blood Cryobank Announces Award of FACT Accreditation

Toronto, Ontario / September 8, 2020 – By demonstrating compliance with the NETCORD-FACT International Standards for Cord Blood Collection, Processing, Testing, Banking, Selection and Release, Progenics Cord Blood Cryobank (Progenics) has earned FACT Accreditation for related cord blood collection, banking, and release for administration, issued on August 28th, 2020.  NETCORD-FACT Standards are defined by leading experts based on the latest knowledge of the field of cord blood banking. Progenics Cord Blood Cryobank has been found to be in compliance with these rigorous standards as well as governmental regulations.

“We endeavoured to achieve this accreditation, for Progenics, because FACT accreditation has evolved into a premier qualification to remain competitive in the field of cellular therapy,” says Mr. Elias Kalouche, Vice President, Quality & Organizational Excellence, Progenics Cord Blood Cryobank.

“Accreditation, by FACT, is used by physicians for referrals and by insurance companies for reimbursement.  We believe FACT Accreditation will make patients aware that our facility strives to achieve the highest quality care for cord blood bank programs,” says Dr. Jeff Silverman, Medical Director, Progenics Cord Blood Cryobank.

“We are pleased that Progenics Cord Blood Cryobank has met the requirements of the Foundation and has been granted accreditation for related cord blood collection, banking, and release for administration,” said Dr. Phyllis Warkentin, FACT Medical Director.

FACT conducted an on-site evaluation of Progenics Cord Blood Cryobank on December 11th and 12th, 2019. The accreditation process involved the submission of documentation to demonstrate compliance with the Standards and a subsequent on-site inspection conducted by inspectors qualified by training and experience in cord blood banking.

For more information, please contact:

Mr. Elias Kalouche, VP Quality & Organizational Excellence

Progenics Cord Blood Cryobank Inc.

416-221-1666/info@progenics.ca

ABOUT FACT

In December 1994, the International Society for Cellular Therapy (ISCT) and the American Society for Blood and Marrow Transplantation (ASBMT) merged their Standards into a single document covering all aspects of hematopoietic cell therapy (collection, processing, and transplantation). The two societies established FACT in order to develop a voluntary Inspection and Accreditation Program based on the joint Standards.  FACT promotes quality medical and laboratory practice of cellular therapy through its peer-developed standards and voluntary inspection and accreditation program.

In 2000, recognizing the global impact of cord blood banking and transplantation, FACT partnered with NetCord to develop international standards for cord blood collection, processing, testing, banking, selection and release. The NetCord foundation is an international network of non-profit public cord blood banks created to promote the establishment of high quality cord blood banks and improve the quality of cord blood products through study and research.

The FACT Inspection and Accreditation Program was developed by Dr. Phyllis Warkentin, FACT Medical Director, the FACT Directors and Officers, as well as the ISCT and ASBMT Regulatory and Standards Committees.  The first edition of the NetCord-FACT Standards was published in 2000.