SAN DIEGO, Oct. 4, 2010 (GLOBE NEWSWIRE) -- 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.
About Bio-Matrix Scientific Group:
Bio-Matrix Scientific Group Inc. (OTCBB:BMSN) is a biotechnology company headquartered in San Diego, Ca. with a 15,000 sq. ft. facility that 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. David Koos also serves as Chairman & CEO for the company's majority owned subsidiary, Entest BioMedical, Inc. (OTCBB:ENTB).
Disclaimer
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.
CONTACT: Bio-Matrix Scientific Group Inc. David R. Koos, Chairman & CEO 619.702.1404 Fax: 619.330.2328 info@BMSN.us www.BMSN.us