Welcome to our dedicated page for Biostem Tech news (Ticker: BSEM), a resource for investors and traders seeking the latest updates and insights on Biostem Tech stock.
BioStem Technologies, Inc. (OTC: BSEM) generates news that reflects its role as a MedTech company focused on placental-derived allografts for advanced wound care and regenerative therapies. Coverage of BSEM often centers on clinical trial milestones, reimbursement developments, financial reporting, and operational updates related to its BioRetain®-processed product portfolio, which includes brands such as AmnioWrap2™, VENDAJE®, VENDAJE AC®, VENDAJE OPTIC®, American Amnion™, and American Amnion AC™.
Investors and healthcare professionals following BSEM news can expect updates on randomized controlled trials and other clinical studies evaluating BioRetain-preserved placental allografts in chronic wound indications like diabetic foot ulcers and venous leg ulcers. The company has reported top-line clinical results from a multicenter randomized controlled trial in non-healing diabetic foot ulcers, as well as comparative studies versus standard of care and competitor products, and these types of announcements are key components of its news flow.
Another major theme in BioStem’s news is reimbursement and policy. The company regularly comments on Centers for Medicare & Medicaid Services (CMS) rules and Local Coverage Determinations affecting skin substitutes and cellular and tissue-based products. News items have addressed the placement of VENDAJE and VENDAJE AC in a “12-Month Status Quo” category under certain LCDs, the withdrawal of specific LCDs, and the inclusion of these products on Florida Medicaid’s list of covered skin substitutes, along with coverage in multiple state Medicaid programs.
Financial and corporate developments also feature prominently. BioStem has issued press releases on quarterly financial results, restated financial statements related to the treatment of bona fide services fees in a distribution agreement, and the appointment of a new independent registered public accounting firm. Operational news has included the purchase of land in the Research Park at Florida Atlantic University in Boca Raton, Florida, for a future headquarters, as well as partnerships to serve the U.S. Department of Veterans Affairs and community initiatives supporting veterans.
By monitoring this news page, readers can follow BioStem’s clinical evidence generation, reimbursement positioning, financial reporting, and strategic initiatives as they relate to its placental-derived advanced wound care products and BioRetain processing technology.
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BioStem Technologies (OTCQB: BSEM) commends a recent report by the U.S. Department of Health and Human Services Office of Inspector General, highlighting the failure of the Centers for Medicare and Medicaid Services (CMS) to ensure accurate Average Sales Price (ASP) reporting for skin substitute products. The report reveals compliance issues that could affect payment accuracy. CEO Jason Matuszewski emphasizes the importance of accurate ASP reporting for patient access to effective treatments and fair reimbursement for providers. BioStem is committed to regulatory compliance and has implemented measures to ensure transparency in reporting.
BioStem Technologies Inc. (OTCQB: BSEM) announced its acquisition of the majority assets from Auxocell Laboratories, Inc., a leading manufacturer in solid tissue processing equipment. This acquisition includes all assets excluding the AUX003 patent family, which will be licensed to BioStem. The deal encompasses 45 patents and 11 trademarks related to human placental tissue applications. The acquisition aims to enhance BioStem's intellectual property portfolio and manufacturing capabilities while accelerating growth in regenerative medicine. CEO Jason Matuszewski emphasized the strategic value of Auxocell's technology in producing regenerative products without enzymatic digestion.
BioStem Technologies Inc. (OTCQB: BSEM) announced on February 14, 2023, a Share Exchange Agreement with M.W. Jens Realty Investments, LLC to acquire 10% of the issued shares of its subsidiary, Blue Tech Industries, Inc. The agreement comes after a four-year partnership aimed at developing BioStem's tissue allograft division. In exchange for the shares, BioStem will issue 500,000 new shares of its common stock. CEO Jason Matuszewski expressed commitment to the company’s direction through this agreement, highlighting its focus on regenerative therapies and innovative manufacturing processes.
BioStem Technologies Inc. (OTCQB: BSEM) has announced the appointment of Michael Sylvester as Vice President of Sales and Neal Bhattacharya as Vice President of Marketing, marking a strategic move for growth in the regenerative medicine sector. Sylvester brings over 20 years of experience in sales, having worked with notable organizations like Johnson & Johnson, while Bhattacharya has a strong marketing background with major brands such as Novartis. CEO Jason Matuszewski emphasized that this leadership enhancement aims to solidify BioStem's presence in advanced wound care and drive sales growth through effective market penetration and communication of product efficacy.
BioStem Technologies (OTCQB: BSEM) announced that the Center for Medicare Services has established national pricing for its product VENDAJETM, effective January 1, 2023. This change allows all Medicare providers across the U.S. to offer VENDAJETM for reimbursement, enhancing access for patients with non-healing lower extremity wounds. Previously, reimbursement was limited to select MAC regions. The national pricing streamlines the reimbursement process and may accelerate payment timelines. The company expressed optimism regarding payer coverage and the product's market rollout, which utilizes proprietary BioRetain processing technology.