BioStem Technologies Announces Corporate Update on Company Direction
Pompano Beach, FL, April 29, 2020 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC PINK: BSEM) ("BioStem" or the "Company") a leading life sciences company specializing in perinatal tissue-based allografts for use in regenerative therapies, today announced a corporate update on the Company’s direction.
The Company announced that it embarked on a new initiative to define its two distinct business pillars, BioStem Technologies and BioStem Life Sciences. The new strategic focus of BioStem Technologies is to identify, develop and market the life changing regenerative biologics, formally spearheaded by BioStem Life Sciences. This includes an all new biologic therapeutic pipeline focused on Acute Respiratory Distress Syndrome (ARDS) and Osteoarthritis (OA). BioStem Technologies will also assume the sales and distribution of the RHEO™, VENDAJE™, VENDAJE™ AC, and VENDAJE™ OPTIC brands.
BioStem Technologies also announced the addition of four new biologic therapeutics to its pipeline. Three of the new biologics are aimed at potentially treating Acute Respiratory Distress Syndrome (ARDS), one of the leading life-threatening conditions caused by COVID-191, and the fourth is targeted at the potential treatment of Osteoarthritis.
- BSEM-001 – Amniotic Fluid therapy being developed as a potential treatment of Acute Respiratory Distress Syndrome (ARDS)
- BSEM-002 – Umbilical Cord Tissue Native MSCs therapy being developed as a potential treatment for Acute Respiratory Distress Syndrome (ARDS)
- BSEM-003 – Amnion Derived MSCs therapy being developed as a potential treatment for Acute Respiratory Distress Syndrome (ARDS)
- BSEM-004 – Amniotic Fluid Matrix therapy being developed as a potential treatment for Osteoarthritis (OA)
BioStem Life Sciences will transition to a GMP level, Contract Development and Manufacturing Organization (CDMO). In addition to development and manufacturing for BioStem Technologies, BioStem Life Sciences will support 3rd party cell and gene therapy developers with process development, analytical methods, GMP Manufacturing, aseptic fill and finish, and cell banking. BioStem Life Sciences is positioned to create bespoke support programs for developers who are looking for streamlined market entry. By leveraging their experience in the perinatal tissue allograft vertical, the company will help cell therapy innovators accelerate their time to market as well as realize cost savings.
Earlier this year the Company announced a new website for BioStem Life Sciences (), showcasing capabilities of the lab and announcing progress on transitioning to a (CDMO), and now is also proud to announce the launch of a new website for BioStem Technologies () as well. This new website aligns with the Company’s new direction, wherein BioStem Technologies will develop its product pipeline, utilizing BioStem Life Sciences for research, development and manufacturing. The new website is also a hub of information for BioStem’s legacy products RHEO™, VENDAJE™, VENDAJE™ AC, and VENDAJE™ OPTIC.
"My ultimate goal in life is to make it so the next generation grows up in a world where pulmonary fibrosis is managed just like the common cold, and the body's natural regenerative engine remains empowered throughout our lives," said Jason Matuszewski, Co-Founder, Chairman and Chief Executive Officer of BioStem Technologies. "BioStem's new vision is a biotechnology company focused model, founded to harness perinatal tissue as a platform for discovery and therapeutics. This will ultimately lead to amplify the body's ability to fight disease, restore function and extend the healthy lifespan. It is my vision and passion that the cellular medicines we derive from placental tissue will lead to abundant and affordable treatments."
About BioStem Technologies, Inc. (OTC PINK: BSEM): BioStem Technologies, Inc. is a global life sciences corporation, providing innovative technologies with a concentration in Regenerative Medicine. The company’s mission is to discover, develop and produce the most effective Regenerative Medicine products in the world. BioStem Technologies offers a comprehensive portfolio of high-quality brands that include RHEO™, VENDAJE™, VENDAJE™ AC and VENDAJE™ OPTIC. The company is comprised of a diverse group of scientists, physicians, and entrepreneurs who collaborate to create innovative products. These technologies improve the Quality of Life for our patients and, as a result, drive shareholder value.
Forward-Looking Statements: Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," believe" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and additional risks factors as discussed in reports filed by the company with OTC Markets.
BioStem Technologies, Inc.
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Andrew Van Vurst
(954) 380-8342
1. Wu C, Chen X, Cai Y, et al. Risk Factors Associated With Acute Respiratory Distress Syndrome and Death in Patients With Coronavirus Disease 2019 Pneumonia in Wuhan, China. JAMA Intern Med. Published online March 13, 2020. doi:10.1001/jamainternmed.2020.0994
