ATLANTA, GA--(MARKET WIRE)--Mar 20, 2007 -- Bio Stem, Inc. (OTC BB:BTEM.OB - News) announced today that through their planned acquisition of Cryobanks International, Inc. (CII), BioStem will acquire nearly 9,000 internationally registered cord blood stem cell units presently being inventoried at their Altamore Springs, FL location. This represents one of the largest inventories of donated stem cell units in the world.
Upon the completion of the merger between Bio Stem, Inc. and Cryobanks International, Inc., Bio Stem, Inc. will indirectly own the inventory assets held by the Cryobanks. If and when cord blood units offered by Cryobanks are used for transplantation, Cryobanks receives $19,000 to $22,500 per unit in reimbursement.
Separately, Cryobanks has an inventory of approximately 3,000 additional stem cell units for research purposes that are available to major hospitals, universities and research centers for research designed to develop potential medical therapies. Cryobanks’ corporate policy is to provide cord blood research units only for non-controversial and non-cosmetic purposes in keeping with Cryobanks’ mission to participate in life enhancing and life saving, medically necessary therapies only. Cryobanks’ inventory of stem cell units available for research is one of the largest such inventories in the world. These research units are not eligible for transplantation due to very strict government standards.
