BIOSTEM TECHNOLOGIES, INC. ANNOUNCES CORPORATE UPDATE; RESIGNATION OF CHAIRMAN AND CEO, APPOINTMENT OF INTERIM CEO AND CHARIMAN; BOARD INITIATES EXECUTIVE SEARCH FOR PERMANENT CEO
POMPANO BEACH, FL, Oct. 29, 2019 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC/PK:BSEM) today announced Henry Van Vurst would be stepping down as the company’s Chief Executive Officer and as Chairman of the Board of Directors, effective October 22, 2019. Henry is yielding the position to focus on sales and business development for the company’s life sciences division. The BioStem Board of Directors has elected Jason Matuszewski, a co-founder and longtime member of the executive team, as the company’s interim Chief Executive Officer and Chairman, effective October 22, 2019.
“The Board of Directors of BioStem Technologies has accepted Henry’s decision to step down as CEO and Chairman to focus on business development and sales,” said Jason Matuszewski. Matuszewski continued, “as one of the founders of BioStem Technologies, I have a profound commitment to the success of our company and to ensure the continual focus of our vision and the execution of our strategy. I am fully invested in reassuming the role of CEO until such a time that this important responsibility can be transitioned to the right person following a systematic search that will allow us to maintain our focus on our important fourth quarter.”
The company also announced the expansion of its leadership team with the addition of Ken Warrington, PhD as Senior Vice President of Operations. Dr. Warrington brings significant expertise in biopharmaceutical product development and cGMP production. Dr. Warrington will play a key role in the expansion of the laboratory production and development initatives as BioStem continues to accelerate its growth of the BioStem Life Sciences division.
About BioStem Technologies, Inc. (OTC PINK: BSEM): BioStem Technologies, Inc. is a global life sciences corporation, providing innovative technologies with a concentration in Regenerative Medicine. The company’s mission is to discover, develop and produce the most effective 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.
BioStem Life Sciences, Inc. A company focused on the development of the highest quality birth tissue products for multiple sectors of healthcare. BioStem Life Sciences offers a comprehensive portfolio of high quality brands that include Rheo™, Vendaje™ and Vendaje Optic™. BioStem Life Sciences also provides leading class contract manfuactuing services to GMP and GTP standards for companies looking to develop birth tissue products, from bench top to comericalization. For the latest news and information about BioStem Life Sciences and its brands, please visit www.biostemlifesciences.com
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 risks factors as discussed in reports filed by the company with OTC Markets.
Investor Relations:Andrew Van Vurstinfo@biostemtech.com(954) 380-8342