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BioStem Technologies Inc. Announces Intent to Acquire GIINT
Pompano Beach, FL, Feb. 26, 2018 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC: BSEM) (“BioStem” or the “Company”), a global life sciences corporation, providing innovative technologies with a concentration in Pharmaceuticals and Regenerative Medicine, announced today the signing of a Letter of Intent to acquire Grupo Impulso De Incentivacion Para Nuevas Tecnologías (“GIINT”), a Mexico based, international leader in stem cell research, development, storage and therapy protocols.
GIINT is a Mexico based, biotechnology, holding company focused on innovative Regenerative Medicine through its subsidiaries, Indebioc and Store-a-Cell, and delivering treatment protocols through Clinica Franklin. GIINT utilizes stem cells that are derived from multiple sources (including dental pulp, adipose tissue, placenta, umbilical cord, bone marrow and upcoming reprogrammed IPSCs). With more than 35 years of experience in health services and a robust portfolio for basic research, clinical trials and clinical applications, GIINT provides an extensive line of services intended to address the unmet health needs of patients worldwide with innovative, science-based solutions that hold a promise for an ageless era.
GIINT assets include:
- A biosafety level II laboratory, compliant with standards set by Mexican Regulatory Authority (COFEPRIS) and with standards based on GMP for the processing and delivery of stem cells with the highest level of quality and characterization.
- Strategic Partnerships with more than 20 Health Institutions in Mexico and around the World.
- A specialized board of industry experts and scientists that bring their experience and expertise on scientific, medical and commercial strategies for the exponential growth of business.
- A pipeline that includes projects from basic science to clinical therapies and product candidates, as well as scientific publications in specialized journals.
- Access to pioneering technologies, including: (i) Cell lineages, derived from IPSCs (cardiomyocytes, neurons, hepatocytes, pancreatic beta-cells; (ii) NK form IPSCS; (iii) State-of-the-art cell and retroviral/lentiviral manufacturing; and (iv) scaffolds and tissue engineering.
Henry Van Vurst, BioStem’s CEO, said, “With our knowledge in the Stem Cell and Regenerative Medicine sectors, we’re confident that we will have a huge upside with the addition of GIINT’s stem cell research, development, storage, and advanced treatments and protocols. We see GIINT as the solid foundation upon which we can build a rapidly growing stem cell business for the coming decade, as stem cell treatments become mainstream.”
Upon completion of due diligence, the two companies will execute a stock swap whereby GIINT will become a wholly owned subsidiary of BioStem. BioStem will also enter into individual agreements with the officers and directors of GIINT to provide additional BioStem shares that are tied to their respective continued employment with the Company.
About BioStem Technologies, Inc. (OTC PINK: BSEM): BioStem Technologies, Inc. is a global life sciences corporation, providing innovative technologies with a concentration in Pharmaceuticals and Regenerative Medicine. The Company’s mission is to discover, develop and produce the most effective Pharmaceutical and Regenerative Medicine products in the world. 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.
About Grupo Impulso De Incentivacion Para Nuevas Tecnologías (“GIINT”): GIINT is a Mexico based biotechnology company with an innovative focus on Regenerative Medicine. The Company utilizes stem cells derived from multiple sources (including dental pulp, adipose tissue, placenta, umbilical cord, bone marrow and upcoming reprogrammed IPSCs). With over 35 years of experience in health services and a robust portfolio for basic research, clinical trials and clinical applications, GIINT provides an extensive line of services intended to address the unmet health needs of patients worldwide with innovative, science-based solutions that hold a promise for an ageless era.
Forward-Looking Statements: Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," believe" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and additional risk factors, as discussed in reports filed by the Company with OTC Markets.
Andrew Van Vurst