Pompano Beach, FL, Aug. 11, 2020 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC PINK: BSEM) a leading life sciences company specializing in the development and sale of perinatal tissue-based allografts for use in regenerative therapies, today announced that its subsidiary, Blue Tech Industries, Inc. (doing business as BioStem Life Sciences), has signed a Master Service Agreement with a new customer to manufacture the customer’s amniotic membrane platform for the next two years, in a deal estimated to be worth up to $2.4 million to BioStem. The agreement also allows the companies to initiate additional projects in the future.
This agreement further strengthens BioStem Life Sciences' position as a premier service provider in the biologic contract development and manufacturing organization-industry.
"We are excited that this new customer has chosen BioStem Life Sciences to manufacture their amniotic tissue allograft products. The decision to invest further in our facility and expansion of services is solidifying the sustainable business model for the Company in the Contract Manufacturing sector,” said Andrew Van Vurst, Chief Operations Officer for BioStem Technologies.
About BioStem Life Sciences, Inc.: BioStem Life Sciences is focused on the development of the highest quality birth tissue products for multiple sectors of healthcare. BioStem Life Sciences also provides leading class contract development and manufacturing services to “good manufacturing practices” and “good tissue practices” standards for companies looking to develop birth tissue products, from bench top to commercialization. For the latest news and information about BioStem Life Sciences and its brands, please visit www.biostemlifesciences.com
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™, OROPRO™, 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 historical fact statements, 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. Any forward-looking statement reflects the company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
BioStem Technologies, Inc.
Phone: 954-380-8342
Website: http://www.biostemtechnologies.com
Email: info@biostemtech.com
Twitter: @Biostemtech
Facebook: https://www.facebook.com/biostemtechnologies/
Investor Relations:
Andrew Van Vurst
info@biostemtech.com
(954) 380-8342