BioStem Technologies Poised for Growth with Two New Hires: Michael Sylvester Joins as Vice President of Sales, Neal Bhattacharya as Vice President of Marketing
POMPANO BEACH, FLORIDA., Feb. 01, 2023 (GLOBE NEWSWIRE) -- BioStem Technologies Inc. (“BioStem” or the “Company) (OTCQB: BSEM), a leading regenerative medicine company focused on the development, manufacture, and commercialization of placental derived tissue allografts for advanced wound care, today announced the appointment of Michael Sylvester as Vice President of Sales and Neal Bhattcharya as Vice President of Marketing.
“With strong initial success in the regenerative therapeutics space, BioStem Technologies is positioned for aggressive growth. To achieve our goals, we are building the organization to better penetrate our target markets, effectively communicate our value proposition and product efficacy, and solidify BioStem Technologies as the leading developer, manufacturer and supplier of natural medicinal regenerative therapies. The addition of Mr. Sylvester and Mr. Bhattacharya, both industry veterns with over 20 years of experience each, will help deliver on this goal, ” said Jason Matuszewski, Chief Executive Officer of BioStem.
Mr. Sylvester has extensive experience leading sales teams and organizations in orthopedics, plastics, general, and oral/ent surgical markets. His knowledge of medical device and human allograft 361 HCT/P tissue platforms has been gained from working with startups and major organizations such as Johnson & Johnson and Smith & Nephew. Michael holds a Bachelor of Science in biology with a minor in chemistry from Cleveland State University and an MBA From the Jack Welch Management Institute. He is registered with the AATB as a Certified Tissue Bank Specialist and holds several professional certificates for leadership, sales management, and sales training.
“Michael’s entrepreneurial mindset and innovative solutions have driven transformational change in organizations that resulted in significant growth. These attributes will be valuable assets in driving BioStem sales to the next level,” said Matuszewski.
Mr. Bhattacharya has held progressive positions in marketing for well known national brands in both consumer packaged goods and medical device companies, including Kimberly-Clark, Novartis, Covidien and Trividia Health, Inc. With his most recent position in the diabetes medical device space, Neal has successfully commercialized and grown over 200 products over the span of his career. Neal holds a Bachelor of Science in biology from Emory University, a Master of Arts in biology from Washington University, and a MBA from the Krannert School of Management, Purdue University.
Jason Matuszewski continued, “with significant experience in marketing, brand and product development, Neal will serve as the commercial lead to make BioStem Technologies a well recognized, leading name in regenerative therapeutics.”
About BioStem Technologies, Inc. (OTC PINK: 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 VENDAJETM, VENDAJETM AC, and VENDAJETM OPTIC. Each BioStem Technologies placental allograft is processed at the Company's FDA registered and AATB accredited site in Pompano Beach, Florida.
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.
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