The present invention is related generally to embryonic-like stem cells isolated from human umbilical cord blood, designated herein as cord blood-stem cells (CB-SC's), which display the characteristics of embryonic stem cells and hematopoietic cells. These cells have the capability of proliferation and are able to differentiate to multiple types of cells. In addition, the CB-SC display low immunogenicity and immune regulation. These cells are, therefore, suitable for use in stem cell-based therapies for the treatment of diseases such as Parkinson's disease, diabetes, spinal cord damage, multiple sclerosis, cardiovascular disease, stroke and birth defects, and for preventing, treating and/or reducing an autoimmune disease in a mammalian subject.