LifebankUSA was founded as a family cord blood bank in 1998, and was acquired by Celgene (Nasdaq: CELG) on 13 Nov 2002. Since 2006, LifebankUSA is the only bank in the US that offers families storage of blood from the placenta as well. Research supports the harvesting of placental blood as a way to boost the number of blood-forming stem cells that are collected and stored. Celgene is using both cord and placental blood in several clinical trials. More information about Lifebank's family banking services are available under "Find a Family Bank".