BioStem Technologies announced its subsidiary, Blue Tech Industries (doing business as BioStem Life Sciences), has signed a Master Service Agreement with a new customer to manufacture the customer’s amniotic membrane platform for the next two years, in a deal estimated to be worth up to $2.4 million to BioStem. The agreement also allows the companies to initiate additional projects in the future.
"We are excited that this new customer has chosen BioStem Life Sciences to manufacture their amniotic tissue allograft products. The decision to invest further in our facility and expansion of services is solidifying the sustainable business model for the Company in the Contract Manufacturing sector,” said Andrew Van Vurst, Chief Operations Officer for BioStem Technologies.