OAKLAND PARK, FL--(Marketwired - November 18, 2016) -
BioStem Technologies, Inc. (OTC PINK: BSEM
) today announced the formation of Qualified Pharma Ingredients, Inc. (QPI), a subsidiary that will focus on supplying the highest quality Active Pharmaceutical Ingredients available. Qualified Pharma Ingredients has partnered with pharmaceutical sales and marketing experts for the development of this business unit. QPI has already received its FDA Establishment Registration and is now awaiting their State of Florida Department of Business and Professional Regulation (DBPR) inspection for Prescription Drug Repackager.
For over 2 years, BioStem Technologies (BSEM) has acquired numerous business units and formed five subsidiaries in the Health and Wellness sectors. QPI is BSEM's most recent venture, supplying Active Pharmaceutical Ingredients to the Pharmaceutical and Compounding industry with emphasis on superior quality and procurement systems. This is achieved through the acquisition of key team members from the pharmaceutical industry having over 40 years of combined manufacturing and quality control knowledge.
The recent issuance of updated federal guidance has suggested serious concerns about the state of the industry's compliance regarding manufacturing and quality systems for the API suppliers. Regulatory agencies will be paying close attention to the qualifications of API manufacturers, along with product tracking and tracibility from procurement to distribution, with serialization required in the Repackaging industry by 2018. Andrew VanVurst, BioStem Technologies COO stated, "Entering into the pharmaceutical market can be a tedious process, and with the new regulations coming into effect on quality, product traceablity, and control we have developed robust systems to meet and exceed future guidance standards. While other companies scramble to meet the rapidly changing industry, QPI has an advantage by exceeding any current FDA guidance or regulation from inception."
About BioStem Technologies, Inc. (OTC PINK: BSEM): BioStem Technologies, Inc. (OTC PINK: BSEM) is in the business of regenerative medicine and antiaging strategies throughout the United States, Europe, and Mexico. The Company's mission is to conquer the effects of biological aging (and related acute disease), and its strategy is to discover, develop, produce, and deliver the most effective stem cell and wellness products in the world. The Company is comprised of a diverse group of scientists, physicians, and industry visionaries who are creating innovative products for helping customers live their best, feel their best, and be their best. The company operates five strategic business units -- BioStem Cell Therapy, BioStem Wellness, BioStem Pharmaceuticals, Qualified Pharma Ingredients and BioStem International -- providing a diversified line of products and services that include: clinical stem cell therapy, stem cell R&D, state-of-the-art laboratory services, pharmaceuticals, nutraceuticals, cosmeceuticals, API Repackaging, and medical tourism.
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.