New York, October 29, 2024 - PRISM MarketView - BioStem Technologies Inc. (OTC: BSEM) has expanded access to Vendaje AC®, a wound care product designed to support healing in chronic, non-healing wounds, across the United States through its partnership with Venture Medical. This broader rollout follows the October 1, 2024, Center for Medicare Services announcement, which established reimbursement for Vendaje AC® across all Medicare Administrative Contractor (MAC) regions. With nationwide Medicare coverage, Vendaje AC® can now be offered to patients in all 50 states, beginning in the fourth quarter.
Vendaje AC® is manufactured using BioStem’s proprietary BioREtain® process, which preserves structural support, growth factors, and anti-inflammatory cytokines essential for wound healing. The matrix acts as a protective covering to aid the body’s natural repair processes.
Earlier this month, BioStem announced breakthrough study results on diabetic foot ulcer wound closure, comparing its BioREtain®-processed tissue to standard care. Published in the International Wound Journal, the study demonstrated BioREtain’s clinical efficacy in treating complex, treatment-resistant wounds, showing a statistically significant improvement in healing rates and wound size reduction. Diabetic foot ulcers (DFUs) are a serious and chronic condition affecting millions of individuals with diabetes, with approximately 15% expected to develop foot ulcers. According to the American Podiatric Medical Association (APMA), about 6% of these cases may require hospitalization due to complications, making DFUs the leading cause of lower extremity amputations in the U.S. Recent data from GlobalData Plc. revealed that 2.2 million patients received treatment for DFUs in 2023, with costs to the healthcare system estimated between $9 billion and $13 billion annually, highlighting the urgency of effective treatments like BioREtain.
The company is scheduled to report Q3 2024 financial results on Tuesday, November 12, 2024.
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