BioStem Technologies Prepares to Uplist to Senior Exchange

BioStem Technologies (OTC: BSEM) has completed a two year audit as part of its preparations for uplisting to a senior stock exchange. The company announced today that it anticipates its uplisting will help to further validate BioStem’s market position, attract a broader investor base, and enhance shareholder value.

 

“Completing this rigorous two-year audit underscores our dedication to transparency and regulatory compliance. 2023 was a pivotal year for BioStem, marked by robust revenue growth, particularly in Q4, establishing a solid foundation for the company’s future expansion,” said Jason Matuszewski, CEO of BioStem Technologies.

 

BioStem Technologies reported remarkable growth in 2023, with a year-over-year net revenue increase of 1,355% to $11.5 million in the fourth quarter, with the gross profit margin reaching 95% of revenue, up from 84% the previous year. The company attributed this strong progress to the successful commercial launch into the private office setting of AmnioWrap2, an innovative placental-derived allograft product designed to address a broad spectrum of wound applications.

 

“We are excited about the next phase, which includes our plans to uplist and become a fully reporting company with the SEC. We believe these efforts will further solidify our position in the market and serve as a stepping stone toward driving sustained growth and innovation in the MedTech industry.”

About BioStem Technologies, Inc.

BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioRetain® processing method. BioRetain® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established per current Good Tissue Practices (“cGTP”) and current Good Manufacturing Processes (“cGMP”). Our portfolio of quality brands includes AmnioWrap2®, VENDAJE®, VENDAJE AC®, and VENDAJE OPTIC®. Each BioStem Technologies placental allograft is processed at the Company’s FDA registered and AATB accredited site in Pompano Beach, Florida. For more information, please visit: http://www.biostemtechnologies.com

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BioStem Technologies Prepares to Uplist to Senior Exchange

Catie Corcoran

Biotech Editor