Possibly the first to reap the profits from stem-cell research are the instittutions offering storage of stem cells.

Cord Blood America is quick to expand its services and has announced yesterday its agreement with Bio-Matrix Scientific Group Inc. and NeoStem, to market storage services for adipose stem cells and adult peripheral stem cells, respectively.

Over in Asia, Singapore-based CyGenics' CordLife is also planning the same expansion in its services. With a new facility launched in Hongkong just earlier this year, Cygenics is targeting to expand further in Asia and Europe. Chief executive Steven fang says

"Growing organically is very important, but joint-ventures or mergers and acquisitions are equally important. We are eyeing deals in the U.S., Australia and Asia," he said.

In a study unveiled Tuesday by the California Council on Science and Technology, they say

In the case of the state's new stem cell initiative, research may take years, decades even, before payoffs in the form of therapies and treatments are seen.

Bad for biotech companies, can't be better for stem cell banks.