Cord blood is a potential source of natural killer (NK) cells for cancer immunotherapy. NK cells can be expanded from cord blood units to sufficient clinical scales for treatment. Expanded cord blood NK cells have been shown to be as cytotoxic against tumors as peripheral blood NK cells. They have demonstrated activity against multiple myeloma and chronic lymphocytic leukemia in preclinical studies. A phase I/II clinical trial is exploring the use of ex vivo expanded cord blood NK cells combined with chemotherapy and autologous stem cell transplant for multiple myeloma. Additional strategies are being investigated to enhance the anti-tumor activity of cord blood NK cells, such as using lenalidomide or engineering the cells to improve homing to the bone marrow micro