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Natera Sells Evercord Cord Blood Banking Business to CBR

NEW YORK – Natera is selling its Evercord cord blood and tissue banking business to CBR (Cord Blood Registry), a California Cryobank Life Sciences company, the firms said today.

"This divestiture will allow Natera to focus squarely on its core genetic testing business in reproductive health, oncology, and organ transplantation," Natera CEO Steve Chapman said in a statement.

"We look forward to safeguarding these newborn stem cells and allowing the Evercord families to take advantage of future advances in cellular therapies and regenerative medicine," said CCLS CEO Richard Jennings in a statement.

Natera launched the Evercord business in 2017, hoping it would enable it to offer newborn whole-genome screening eventually. The service allows parents to collect and store cord blood and tissue from their newborns and retrieve them later, if needed, for therapeutic use. Last year, Natera said that uptake of the service had been slower than anticipated.

CBR said it will work closely with Natera to ensure a smooth transition for customers and ordering clinics.

Financial details of the sale were not disclosed.