A Plymouth-based company has been included in the latest Parliamentary Review.
Biovault is based in Plymouth’s International Medical and Technology Park. Biovault Family offers cord blood and tissue storage for parents who want to bank their babies’ stem cell-rich umbilical tissue as well as cord blood and Biovault Technical is the largest private stem cell and tissue bank in the UK and the only one to work with the NHS in providing human tissue and cells for transplantation.
The company has been at the forefront of the rapidly developing field of human tissue processing and cryogenic storage for almost 20 years, an area of science that has seen a massive spike in demand as doctors and scientists alike find ever more life-changing medical applications for human tissue.
Its inclusion in the Parliamentary Review is a huge accolade for the business as it places policy discussion into the hands of large and small organisations across the country moving away from the “Westminster bubble” to get to the heart of the issues that matter most to businesses. Jointly chaired by Lord Pickles and Lord Blunkett, the Review’s non-partisan approach facilitates policy development driven by those who are most affected by it.
Chief Executive Kate Sneddon said: “We are delighted to be involved in this year’s Parliamentary Review and we hope our story is read widely.
“Umbilical cord banking is a relatively new area of medicine that uses stem cells from the umbilical cord. However, compared with other countries, in the UK knowledge of this service is relatively low as parents do not know they have this option as it is not routinely discussed during pregnancy.
“Also the Royal College of Midwives does not currently support private banking unless there is a medically indicated reason, although they are currently reviewing their position.
“There aren’t the resources in place to facilitate collection so we rely on external personnel to attend the birth to make the collection.
“However, it is an incredibly exciting time field of stem cells, cellular therapies and regenerative medicine as we are now on the cusp of many new possibilities for the use of these precious cells and we continue to work hard to be at the forefront of this.”
The co-chairman of The Parliamentary Review, Lord Pickles, has praised the upcoming Review as one of the most comprehensive yet. He commented that as Britain undergoes changes, it is “essential that politicians have a firm understanding of the challenges with which British organisations must contend” and that The Review once again provides a perfect platform for this.
In her foreword for The Parliamentary Review, the Secretary of State for International Trade, Elizabeth Truss, states that “commerce and free exchange are the engine room of prosperity and social mobility” and that she is “determined to tackle the forces who want to hold that back”.
Biovault’s article can be viewed here: