POMPANO BEACH, Fla., Oct. 15, 2024 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC: BSEM), a leading MedTech company focused on the development, manufacture, and commercialization of placental-derived biologics for advanced wound care, today announced that the Center for Medicare Services (CMS) has established national pricing for its allograft product, Vendaje AC® in all Medicare Administrative Contractor (MAC) regions. This pricing announcement effective as of October 1, 2024, allows BioStem to begin marketing Vendaje AC nationwide within the MAC regions.
BioStem will commercialize Vendaje AC through Venture Medical LLC, a premier commercialization provider in the U.S. wound care market. Venture Medical, which has an extensive wound care sales team, is currently supporting BioStem with the successful launch of AmnioWrap2® and will now lead the distribution and marketing efforts for Vendaje AC nationwide.
Jason Matuszewski, CEO of BioStem Technologies Inc., commented: “With CMS's national pricing approval, Vendaje AC is now accessible to more patients across the country, representing a major milestone in our mission to improve advanced wound care. We are thrilled to partner with Venture Medical to bring Vendaje AC to a broader audience. Their expertise in the wound care market will be invaluable as we continue to deliver innovative solutions for patients in need.”
John Schroeder, CEO of Venture Medical, LLC, added: “Venture Medical is uniquely positioned to partner with BioStem Technologies to address the growing need for rapid-healing modalities in chronic and post-surgical wounds. With our nation-wide, healing-focused salesforce, full-service logistical, marketing and operational solutions, and innovative software that makes inventory management easier for providers, we are thrilled to be the exclusive distributor of Vendaje AC and get it in the hands of the people who need it the most – the patients.”
About Vendaje AC®
Available by prescription through healthcare providers in all 50 states, Vendaje AC offers patients with non-healing wounds an advanced wound care option that acts as a protective barrier or covering to provide an environment for wound healing and closure. Vendaje AC is a thicker human connective tissue matrix comprised of dehydrated amniotic/chorionic tissue. Manufactured using BioStem’s patented six-step proprietary BioREtain® process, Vendaje AC naturally contains extracellular matrix scaffolding, which provides mechanical protection and functional support for cell attachment, growth factors that help modulate proliferation and angiogenesis, and cytokines that inhibit inflammatory effects, all of which are critical in aiding the body’s natural healing cascade.
Healthcare providers or patients interested in learning more about Vendaje AC allografts can visit: https://biostemtechnologies.com/vendaje-ac-2/.
Join BioStem’s Distribution List & Social Media:
To follow the latest developments at BioStem, sign-up to the Company’s email distribution list HERE, and follow us on Twitter and LinkedIn.
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 AmnioWrap 2 ™, 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 biostemtechnologies.com and follow us on Twitter and LinkedIn.
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.
Phone: 954-380-8342
Website: http://www.biostemtechnologies.com
E-Mail: info@biostemtech.com
Twitter: @BSEM_Tech
Facebook: BioStemTechnologies
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
646-863-6893
