Biomedical Engineering Reference
In-Depth Information
sample to be stored in a public bank for use by anyone who needs it
(Smith, 2009).
Interestingly, Virgin Health Bank's website points out that the
amount stored for personal use under the community banking model
is actually not sufficient by itself for treatment purposes, but they are
hopeful that techniques of cell expansion will develop in the not-too-
distant future. One might wonder then why someone would pay over
a thousand pounds to bank a sample of cord blood their family may
not be able to use, even in the unlikely event that it is needed at some
point in the future? A key criticism of private cord-blood banking is
that it is thought to prey on the insecurities of individuals at a time
when they are highly vulnerable and understandably anxious about
their unborn child's future (Smith, 2009) by offering a service highly
unlikely ever to be required. The chances that privately banked stem
cells will be needed have been estimated at anywhere between 1 in
20 000 and 1 in 250 000 (Kline, 2001). Another criticism of private
cord-blood banking is that it could prevent other people having access
to cord blood that may be a good match for them (Brown and Kraft,
2006; Waldby, 2006). Such criticisms aside, Richard Branson's Virgin
Health Bank represents a careful negotiation of both the public and
private models of cord-blood banking. The community banking model
on the one hand provides some insurance for anxious parents while on
the other hand still facilitates a contribution to the needs of others.
On closer inspection of the FAQs on the Virgin Health Bank
website, it also transpires that while cord-blood banking seems quite
expensive, all the profits from the bank '… will be donated to
initiatives that are helping to fully realise the potential of cord blood
stem cells' because 'Sir Richard Branson is passionate about the
opportunities for stem cell transplantation and regenerative medicine'
(
http://www.virginhealthbank.com
, 2011). This further reinforces the
careful negotiation of the values of both private and public banking
mentioned above. In particular, distributing the profits of private
cord-blood banking to initiatives that support the development of
cord blood as a treatment model allows the bank to avoid the harsher
criticisms of private cord-blood banking as a form of exploitation.
The trend towards the clinical use of umbilical cord blood instead
of bone marrow was prompted by three key factors: the demonstration
