Pompano Beach, FL, March 13, 2020 (GLOBE NEWSWIRE) -- BioStem Life Sciences, a wholly owned subsidiary of BioStem Technologies, Inc. (OTC PINK: BSEM) ("BioStem" or the "Company") a leading life sciences company specializing in perinatal tissue-based allografts for use in regenerative therapies, today announced the buildout of a brand new R&D lab. Situated in the Company's 6,100 sq. Ft., state-of-the-art, FDA registered, cGMP facility, this new lab will support the research and development pipeline for the Company's growing Contract Development and Manufacturing (CDMO) business.
The expansion of the laboratory facilities and capabilities has been essential for meeting the incoming customer demand of the Company’s CDMO business; including perinatal tissue process development and contract manufacturing of finished product, cell line development and characterization, and cell banking, including master cell bank development and storage. In the first quarter of 2020 the Company has already onboarded 4 new CDMO projects in the perinatal tissue allograft space.
"The buildout of this new R&D lab expands our capacity for product innovation and facilitates the tech transfer and process development activities required to support our growing list of contract manufacturing clients. This expansion reduces constraints on the production team and cGMP manufacturing space as we aggressively move into contract R&D and cGMP manufacturing services," said Ken Warrington, Ph.D, Senior Vice President of Operations and Business Development for BioStem Life Sciences.
About BioStem Life Sciences, Inc. A company 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 GMP and GTP 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™ 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 statements of historical fact, 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.
Andrew Van Vurst