American CryoStem Enters into an Agreement to Exchange Shares held by ACS Global, Inc
EATONTOWN, NJ / ACCESSWIRE / November 12, 2021 / American CryoStem Corporation (OTC PINK:CRYO), a leading strategic cellular application developer, global licensor of patented adipose tissue-based technologies for the Regenerative and Personalized Medicine industries, today announced an agreement has been reached between the Company and ACS Global, Inc to exchange 20,000,000 million CRYO common shares currently held by ACS Global, Inc for 1,000,000 shares of preferred stock. Terms of the new preferred stock were not disclosed.
Management believes that this transaction will benefit CRYO stakeholders as the Company progresses with the execution of its business plan and on-going clinical trials.
About American CryoStem Corporation: (CRYO), founded in 2008, is a clinical-stage biotechnology Company, developing and delivering autologous mesenchymal stem cell (MSC) therapies leveraging its mCMC (mesenchymal, Chemistry, Manufacturing, and Control) patented platform to collect-process-store-return to point of care genetically matched personalized therapy. The Platform supports a growing pipeline of biologic therapies, products, processes, and international licensing opportunities. The Company's patented platform provides patients the opportunity for a single adipose-tissue (fat) harvest to be processed, stored and ultimately used for cosmetic fat transfer purposes or for immediate or future processing to MSC's. The platform is configured to produce large quantities of genetically matched mesenchymal stem cells (ATCELL) for future individual or successive multiple treatments as needed, "on demand". The Company has strategically positioned its cellular therapy product pipeline to; attract collaborative partners, accelerate creation of new treatment applications, and improve manufacturing processes and testing methods. Each new collaborative effort is designed to result in additional intellectual property and targeted commercial products to ultimately produce significant future revenue. CRYO is targeting topical applications and untreatable and incurable neurologic diseases, disorders, and conditions that have a large unmet medical need and US FDA Orphan drug designation. The Company operates a cGMP compliant, FDA registered laboratory, located in Monmouth Junction, New Jersey, USA, and licensed laboratory operations in Hong Kong, China and Thailand.
SOURCE: American CryoStem Corporation
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