POMPANO BEACH, FLORIDA., March 07, 2023 (GLOBE NEWSWIRE) –– BioStem Technologies Inc. (OTCQB: BSEM), announced today that it has entered into an Agreement to acquire the majority of the assets of Auxocell Laboratories, Inc., a leading solid tissue processing equipment manufacturer.
Auxocell is the inventor and manufacturer of the Auxocell solid tissue processing device (AC:Px®), a single-use, sterile processing system. The AC:Px® can be used to produce a wide range of regenerative medicine products from a variety of solid tissues such as umbilical, placenta, adipose and deceased donor organs where a match is unable to be located for an organ transplant. Auxocell invested significant capital into the development of the robust patented portfolio. The AC:Px® allows for greater processing output and increased cell yield when producing native cellular products, minced tissue products and life changing decellularized allografts.
Jason Matuszewski, Chief Executive Officer of BioStem commented: “The acquisition will enable us to expand our intellectual property portfolio, both domestic and foreign, in the perinatal tissue space and provide additional value to our clients and shareholders. The core technology will allow us to secure the manufacturing process to isolate cells from solid tissues without the use of enzymatic digestion. The addition of Auxocell’s assets will allow us to leverage their expertise and resources to enhance our manufacturing capabilities and accelerate our growth trajectory in the marketplace”.
“We are pleased to announce this agreement with BioStem,” said Kyle Cetrulo Co-Founder and Chief Executive Officer of Auxocell Laboratories, Inc. “BioStem has been a customer of Auxocell’s for many years and we are excited to pass this industry leading technology to them. I look forward to seeing how BioStem utilizes the AC:Px® technology to create life changing regenerative medicine products that advance the field of cellular and tissue therapy.”
Under the terms of the agreement, BioStem will purchase all of Auxocell’s rights, title and interest to all assets with the exception of the AUX003 patent family, which will be licensed to BioStem by Auxocell. In total, Biostem will obtain 45 domestic and foreign issued patents, 11 domestic and foreign trademarks, and all remaining Auxocell equipment and inventory. The Auxocell patent portfolio, trademarks, devices and inventory are all related to the formulation, composition and manufacturing of products derived from human placental tissues and cells.
“By combining our strengths and knowledge with Auxocell’s technology, we will generate innovative solutions to drive long-term success for our business”, said Jason Matuszewski, Chief Executive Officer of BioStem.
About BioStem Technologies, Inc. (OTCQB: 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 VENDAJETM, VENDAJETM AC, and VENDAJETM OPTIC. Each BioStem Technologies placental allograft is processed at the Company’s FDA registered and AATB accredited site in Pompano Beach, Florida.