BioStem Technologies Appoints Proven Life Science Sales Leader Shawn McCarrey to Chief Commercial Officer Role

Mr. McCarrey brings a strong track record of success and deep experience in regenerative medicine markets

POMPANO BEACH, Fla., Jan. 11, 2024 (GLOBE NEWSWIRE) — BioStem Technologies Inc. (OTC: BSEM), a leading regenerative medicine company focused on the development, manufacture, and commercialization of placental-derived biologics for advanced wound care, today announces it has appointed a proven life science sales leader, Mr. Shawn McCarrey, as Chief Commercial Officer.

BioStem Technologies CEO, Jason Matuszewski, said, “We expect 2024 to be a transformative year for BioStem, and investing in our leadership is an important step towards strengthening our current presence in the wound management space, in addition to breaking into new markets.”

“I am thrilled to announce Mr. McCarrey’s arrival at BioStem and eagerly anticipate the valuable insights and dynamic strategies he will contribute. His extensive background, marked by significant achievements in transforming care standards in diverse fields such as regenerative medicine, wound care, and podiatry, is highly impressive. Mr. McCarrey’s history of success is a testament to his capabilities. We are confident that his involvement will greatly benefit BioStem’s commercial endeavors, as well as our customers and investors.”

Before joining us, Mr. McCarrey held the position of Chief Commercial Officer at BLUEWAVE, successfully leading the commercialization of their proprietary system in Orthotics & Prosthetics (O&P), Wound Care, and Podiatry markets. Prior to this, he served as the Vice President of Sales at Glytec, and held the role of Senior Vice President of Sales in the regenerative medicine sector at the medical device company, AxoGen.

During his tenure at AxoGen, Mr. McCarrey was instrumental in boosting the company’s annual growth rate from 39% to an impressive 60%. Additionally, he brings valuable leadership experience from his time at Bayer, where he significantly expanded the company’s install base by 910% and grew its sales force by 250%. At Possis Medical, Mr. McCarrey was pivotal in launching 16 new products over a decade, contributing to a substantial 1,158% increase in the company’s sales.

Mr. McCarrey said, “BioStem has reached an important inflection point and has a unique opportunity to realize a number of market opportunities in the coming year. I am very pleased to join BioStem to champion the company’s talented team as it capitalizes on these opportunities.”

About BioStem Technologies, Inc. (OTC: 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 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.

Forward-Looking Statements:
Except for statements of historical fact, this release also contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate”, “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: (1) the impact of any changes to the reimbursement levels for the Company’s products; (2) the Company faces significant and continuing competition, which could adversely affect its business, results of operations and financial condition; (3) rapid technological change could cause the Company’s products to become obsolete and if the Company does not enhance its product offerings through its research and development efforts, it may be unable to effectively compete;(4) to be commercially successful, the Company must convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; (5) the Company’s ability to raise funds to expand its business; (6) the Company has incurred significant losses since inception and may incur losses in the future; (7) changes in applicable laws or regulations; (8) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (9) the Company’s ability to maintain production of its products in sufficient quantities to meet demand; and (10) the COVID-19 pandemic and its impact, if any, on the Company’s fiscal condition and results of operations; You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

BioStem Technologies, Inc.
Phone: 954-380-8342
Website: http://www.biostemtechnologies.com
E-Mail: info@biostemtech.com
Twitter: @BSEM_Tech
Facebook: BioStemTechnologies

PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
646-863-6893