BioStem Technologies Appoints Executive Leader Patrick Daly to Board of Directors

POMPANO BEACH, Fla., Dec. 19, 2023 (GLOBE NEWSWIRE) -- . (OTC: BSEM), a leading regenerative medicine company focused on the development, manufacture, and commercialization of placental-derived biologics for advanced wound care, today announces it has appointed Mr. Patrick Daly to its Board of Directors.

Mr. Daly is an award-winning executive leader with a strong track record of success in operations, strategy, sales, marketing, fundraising, and partnership-building.

BioStem Technologies CEO, Jason Matuszewski, said, “We are excited to welcome Patrick Daly to BioStem’s Board of Directors and look forward to leveraging his deep industry experience and relationships in the Biomaterials and MedTech market segments.”

Mr. Daly is an Advisor at Pappas Capital, a private equity firm focused on the life sciences industry. Most recently, he served as Global VP Commercial Solutions and subsequently, Global VP MedTech Data Delivery, at IQVIA Holdings and was responsible for leading a global strategic MedTech Commercial Solutions business unit.

Previously, he held the position of President and CEO at Cohera Medical, an early-stage commercial-stage life sciences company developing biomaterials for surgical adhesives, sealants, and drug delivery products that was acquired by global investment firm, KKR. At Cohera, Mr. Daly spearheaded the development of a novel delivery device for synthetic surgical adhesive that maintained a two-year shelf life and received the Businesswire 2012 Medical Design Excellence Award.

Mr. Daly also held leadership positions for more than a decade at Johnson & Johnson.

Mr. Daly commented, “I am honored to contribute to BioStem's dynamic journey. The company's strategic positioning in expanding markets, particularly in wound care, orthopedics, and surgical reconstruction, underscores its commitment to delivering unparalleled solutions for patients and healthcare professionals. I am eager to be part of this innovative team and play a role in shaping the future of regenerative medicine.”

About BioStem Technologies, Inc. (OTC: BSEM):

BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain^® processing method. BioREtain^® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies' quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (AATB). These systems and procedures are established per current Good Tissue Practices (cGTP) and current Good Manufacturing Processes (cGMP). Our portfolio of quality brands includes AmnioWrap2™, VENDAJE^®, VENDAJE AC^® and VENDAJE OPTIC^®. Each BioStem Technologies placental allograft is processed at the Company's FDA-registered and AATB-accredited site in Pompano Beach, Florida. For more information, visit  and follow us on  and .

Forward-Looking Statements:

Except for statements of historical fact, this release also contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate", "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: (1) the impact of any changes to the reimbursement levels for the Company's products; (2) the Company faces significant and continuing competition, which could adversely affect its business, results of operations and financial condition; (3) rapid technological change could cause the Company's products to become obsolete and if the Company does not enhance its product offerings through its research and development efforts, it may be unable to effectively compete; (4) to be commercially successful, the Company must convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; (5) the Company's ability to raise funds to expand its business; (6) the Company has incurred significant losses since inception and may incur losses in the future; (7) changes in applicable laws or regulations; (8) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (9) the Company's ability to maintain production of its products in sufficient quantities to meet demand; and (10) the COVID-19 pandemic and its impact, if any, on the Company's fiscal condition and results of operations. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

BioStem Technologies, Inc.

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Jeff Ramson



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