DRP Journal

Discover Research Profit

Finance 

BioStem Technologies Inc. (OTC:BSEM) Stock Surges 25%: What’s the Buzz?

Ankit Singhania

BioStem Technologies Inc. (OTC:BSEM) is one of the companies that could be worth tracking this morning in light of the developments from Wednesday. The regenerative medicine company is involved in the manufacturing, development, and commercialization of placental-related biologics for providing advanced levels of wound care.

On December 13, the company was in focus after it announced that it had appointed a new Chairman of the Board in the form of Thomas J. Dugan. It was a significant new announcement and one that could have a considerable impact on the future of the company. It may be a good move for investors to take a closer look at Dugan’s credentials and then make their minds up about the appointment.

In the news release, the company noted that Dugan brought considerable experience to the role. He had a proven track record of expertise in senior executive positions and had been responsible for having transformed companies, launching new market opportunities, and generating growth despite the presence of strong competition. However, perhaps more importantly, Dugan also held significant experience in the fields of surgery and wound care.

Jason Matuszewski, the Chief Executive Officer of BioStem Technologies, spoke about the appointment yesterday. He expressed his delight at welcoming Dugan to the company’s board of directors. He went on to note that he expected BioStem to benefit from the considerable industry and leadership experience held by Dugan.

Dugan had co-founded the consulting firm 360 Life Advisors, involved in providing advisory services to venture capital and private equity firms. Prior to that, he had been the Chief Executive Officer at the wound care and surgical amniotic membrane products pioneering firm, Aminox Medical. Additionally, he had also been a member of the board at Rita Medical Systems, which was later acquired by AngioDynamics. He had also been associated with a number of medical device companies backed by venture capital firms.