BioStem Technologies Appoints KPMG as its Independent Registered Public Accountant
POMPANO BEACH, Fla., Oct. 27, 2025 (GLOBE NEWSWIRE) -- (OTC: BSEM) (the “Company”), a leading MedTech company focused on the development, manufacturing, and commercialization of placental-derived products for advanced wound care, today announced that the Audit Committee of its Board of Directors has approved the appointment of KPMG LLP (“KPMG”) as the Company's independent registered public accounting firm, and it has ended its engagement with its prior registered independent public accounting firm, Marcum LLP (now known as CBIZ, Inc.) (“Marcum”), effective as of October 22, 2025.
“As we transition to a new audit firm, we would like to thank Marcum for their support and contributions to our financial reporting over the past two years of rapid growth for the Company,” said Brandon Poe, Chief Financial Officer of BioStem. Mr. Poe added, “We conducted a thorough search for a firm to support our long-term growth plans and capital markets strategy, including our planned uplist to Nasdaq, and KPMG was our top choice. We are engaging a firm with a dedicated life sciences team and direct industry experience, and we are confident that KPMG will provide the expertise we require as our organization expands.”
During the Company’s two most recent fiscal years and any subsequent interim period preceding the dismissal, there were no disagreements with Marcum on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. Please refer to the Company’s OTC Disclosure & News Service disclosure on October 27, 2025, for additional information.
Nasdaq Uplisting Progress
Following the completion of the full year 2024 and 2025 audits, the Company plans to proceed with its uplisting to the Nasdaq Capital Market.
“We believe we have a clear path toward uplisting, and we continue to make progress building a solid foundation for a national exchange listing,” said Jason Matuszewski, Chairman and Chief Executive Officer of BioStem. “Uplisting remains a key priority that will enable greater visibility for the Company, improve stock liquidity, provide precise market valuation, and increase the Company’s ability to attract top talent. We are pleased to welcome KPMG to support BioStem through this next phase of our corporate evolution.”
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 in compliance with 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 .
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