SOURCE: BioStem, Inc.

March 21, 2007 12:19 ET

Tri State Capital Places $3.40 Price Target on BTEM.OB

ATLANTA, GA -- (MARKET WIRE) -- March 21, 2007 -- BioStem, Inc. (OTCBB: BTEM), which is to acquire Cryobanks International, Inc., is pleased to announce that Tri State Capital (TSC) has placed a $3.40 price target on BTEM stock. As previously released, Tri State Capital has initiated coverage on BioStem, Inc. (OTCBB: BTEM) and merging company, Cryobanks International, Inc. Full independent research reports have been released online at http://www.otclive.com.

TSC is noted for their work with account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media. To view the entire independent research report, please click on the attached URL: http://www.otclive.com

About Cryobanks:

Cryobanks International is a corporation located in Altamonte Springs, FL, which is to be acquired by BioStem, Inc. (OTCBB: BTEM) The Company is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. The units of cord blood (CB) are processed and stored by the company for use in unrelated transplants (where the donor is a histocompatible match, but is anonymous and unrelated to the recipient) and for personal storage and use. In recent years, cord blood transplants (CBTs) have become widely recognized as a safe, effective, and in many ways preferable, alternative to bone marrow transplant (BMT). There is tremendous potential need for CBTs in the United States and worldwide. Cryobanks International is well poised to help meet that need, equipped with an inventory of over 9,700 cord blood units. For more information about Cryobanks International call 1-800-869-8608 or visit the website at www.cryo-intl.com.

Safe Harbor Statement

This press release contains "forward-looking statements" by the Company. These statements relate to future events or financial performance and transactions, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements, to be materially different from those contemplated by the forward-looking statements. The acquisition of Cryobanks International by BioStem, Inc. (OTCBB: BTEM), and the financing previously announced by Cryobanks, cannot be assured until such transactions are successfully closed. We undertake no ongoing obligation, other than that imposed by law, to update these statements.

Contact Information

  • Contact:
    Marc Ebersole
    President and CEO
    BioStem, Inc.
    770-650-1733