BTEM Shares Up 21% on Cryobanks Acquisition News
In late trading today, shares of Bio Stem (OTCBB: BTEM) were up 33 cents at $1.88 per share on news of their planned acquisition of Cryobanks International, Inc. Bio Stem will acquire nearly 9,000 internationally registered cord blood stem cell units presently being inventoried at their Altamore Springs, FL location. This represents one of the largest inventories of donated stem cell units in the world. Cryobanks is a leader in the collection, processing, and banking of stem cells derived from the umbilical cord immediately after birth. When the merger is complete, Bio Stem will indirectly own the inventory assets held…