Bio-Matrix Scientific Group Inc. (OTCBB:BMSN) announced today the company has entered into discussions with several organizations regarding the establishment of adult stem cell repositories at the company's 15,000 sq. ft. facility.
Chairman & CEO David Koos commented about these recent developments, stating, "The company has recently been approached by several entities seeking to develop adult stem cell repositories that dovetail into their overall business models. We see opportunities in working with organizations in areas including cancer stem cells, adult stem cell storage for future therapeutic usage and tumor banking for establishing cell lines for cancer research. I do see potential for initiation of these repositories in the near term."
A spokesperson for BMSN stated the company believes the rapid growth of stem cell therapies combined with the lack of immediate stem cell availability for use in these therapies have been major factors contributing to the recent inquiries received by the company from entities wishing to explore establishing repositories at the company's facility.
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