SAN DIEGO, March 25 /PRNewswire-FirstCall/ -- David Koos, Chairman and CEO of San Diego-based Bio-Matrix Scientific Group Inc. (OTC Bulletin Board: BMSN), told the editors of The Wall Street Transcript, a New York City financial news weekly, that there is an excellent possibility that the company "would have positive cash flow" in '09 because of new business alliances and contracts "with companies engaged either in cryogenic banking, stem cell research, or cell culturing."
BMSN recently entered into a Human Cell Specimen Cryogenic Storage contract with NeoCells, Inc. and AdultCells, Inc. with a focus on the full spectrum of adult stem cells. BMSN was recently featured as "Stock of The Month" in the KonLin Letter (www.konlin.com), a New York-based investment newsletter, as well as in the WallStreetCorner.com investment newsletter (www.wallstreetcorner.com). The TWST news interview was published in the March 23rd issue.
According to Koos, Bio-Matrix's cGMP compliant 15,000 square foot cryogenic stem cell banking facility is highly secured and technologically advanced and is now gaining the respect of stem cell companies across the nation. "Our business model initially focuses on cord blood and peripheral blood," said Koos. "We have an interest in other stem cells as we roll out our model. Our first step is to develop our revenue stream from cord blood because existing specimens are available. Over the next 18 months, we're looking at enhancing the cord blood specimen and peripheral blood banking strategies."
Koos described Bio-Matrix as a "conservative player in the stem cell industry." The CEO pointed out that the company is developing a unique niche within the stem cell industry as a place for stem cell companies to store blood specimens for research and treatment of diseases. "We are the shipping container, we are the foundation, we're the driveway. We're not rolling the dice on getting FDA approval on some therapy that may take ten years to develop," said Koos in the TWST news interview. "We plan to fill a key niche in the marketplace now."
About Bio-Matrix Scientific Group
Bio-Matrix Scientific Group Inc. (OTCBB: BMSN) is a biotech research and development company that commercializes medical devices and monitoring systems for the growing worldwide stem cell research market. Its new 15,000 square foot facility houses two secure cryogenic stem cell banks, three research laboratories, aseptic cellular/tissue class 10,000/100 processing lab, hematology, microbiology and flow cytometry laboratories.
This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
|SOURCE Bio-Matrix Scientific Group Inc.|
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