CMS Establishes National Pricing for BioStem Technologies Product AmnioWrap2™

12/14/23

CMS Establishes National Pricing for BioStem Technologies Product AmnioWrap2™

“This change means that AmnioWrap2™ (AW2) can now be offered to all Medicare providers throughout the country. BioStem Technologies is taking the lead in wound care innovation, leveraging our distinctive BioRetain® process. This is more than a breakthrough; it's a transformative step towards reshaping the landscape of patient care and we expect this expansion in availability will increase adoption and lead to better patient outcomes.”-BioStem Technologies CEO, Jason Matuszewski

New York, December 14, 2023 - Leading regenerative medicine company, BioStem Technologies (OTC: BSEM), has announced that the Center for Medicare Services (CMS) has established national pricing for its product, AmnioWrap2™, in all Medicare Administrative Contractors (MAC) regions. This pricing change will be effective starting Jan 1, 2024. AmnioWrap2™ is available by prescription in all 50 states and offers an advanced treatment option for non-healing wounds. The company’s share price rose 20% in morning trading on Thursday following the announcement.

Highlights

BioStem exclusively commercializes AmnioWrap2™ through Venture Medical LLC, an innovative solutions provider in the U.S. wound care market with an extensive wound care-focused team.

“The national ASP publication of AmnioWrap2™ knocks down barriers that will provide healthcare professionals and their patients with the opportunity to use AmnioWrap2™, a superior wound care product for certain applications.  We are confident that the product benefits will quickly translate to broad product adoption throughout the US.”-John Schroeder, President of Venture Medical LLC

AmnioWrap2™ is a minimally manipulated, dehydrated human tissue membrane. It is comprised of the naturally occurring amnion, chorion, and intact intermediate layers and provides a protective, semi-permeable barrier that supports the healing cascade in acute and chronic wounds.

The company’s proprietary manufacturing approach, BioRetain®, ensures the retention of essential structural components, growth factors, and anti-inflammatory cytokines inherent in placental tissue.

About BioStem Technologies

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.