POMPANO BEACH, FLORIDA, December 13, 2023 – BioStem Technologies Inc. (OTC: BSEM), a leading regenerative medicine company focused on the development, manufacture, and commercialization of placental-derived biologics for advanced wound care, today announces the appointment of Mr. Thomas J. Dugan to the position of Chairman of the Board.
Mr. Dugan brings a wealth of experience to BioStem, with proven, hands-on expertise as a senior executive who has transformed businesses, established new market opportunities, and driven growth in the face of strong competition. He has extensive experience in the wound care and surgical fields.
BioStem Technologies CEO, Jason Matuszewski, said, “I am delighted to welcome Mr. Dugan to BioStem’s Board of Directors. We look forward to benefiting from his extensive leadership and industry experience as we work to optimize value for our shareholders.”
Mr. Dugan co-founded 360 Life Sciences Advisors, a consultancy to private equity and venture capital firms, to assess new investment opportunities and improve performance at portfolio companies. Most recently, Mr. Dugan was the President of Integrum, Inc., the pioneer in osseointegrated orthopedic implants that improve the lives of those with limb loss. Previously, he served as Chief Executive Officer and board member at Amniox Medical, a pioneer in amniotic membrane products for wound care and surgical applications. Mr. Dugan was President at Surgiquest, Inc., President of the Americas for Smith and Nephew Wound Management, and served in senior roles at SonoSite, Datascope, and Tyco Healthcare.
Mr. Dugan served on the board of directors of Rita Medical Systems (NASDAQ: RITA), which was acquired by AngioDynamics, and various venture-backed medical device companies. He chaired the Wound Healing and Tissue Regeneration sector of AdvaMed and also served on the board of MITA, the industry trade group for medical imaging.
About BioStem Technologies, Inc. (OTC: BSEM):
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, visit biostemtechnologies.com and follow us on Twitter and Linkedin
Except for statements of historical fact, this release also contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate”, “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: (1) the impact of any changes to the reimbursement levels for the Company’s products; (2) the Company faces significant and continuing competition, which could adversely affect its business, results of operations and financial condition; (3) rapid technological change could cause the Company’s products to become obsolete and if the Company does not enhance its product offerings through its research and development efforts, it may be unable to effectively compete;(4) to be commercially successful, the Company must convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; (5) the Company’s ability to raise funds to expand its business; (6) the Company has incurred significant losses since inception and may incur losses in the future; (7) changes in applicable laws or regulations; (8) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (9) the Company’s ability to maintain production of its products in sufficient quantities to meet demand; and (10) the COVID-19 pandemic and its impact, if any, on the Company’s fiscal condition and results of operations; You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
BioStem Technologies, Inc.
SOURCE: BioStem Technologies Inc.
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