BioStem Life Sciences Signs Manufacturing Agreement for Amniotic Membrane Allograft Platform
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.
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Andrew Van Vurst