BioStem Technologies Announces the Approval of Q Code for VENDAJE from CMS

BioStem Technologies announces that the CMS had released a new code in response to the Company's application for Healthcare Common Procedure Coding System (HCPCS) Q codes.

FREMONT, CA: BioStem Technologies, Inc., a preclinical-stage biotechnology firm prioritizing on leveraging perinatal tissue elements for use in regenerative therapies, announces that the Centers for Medicare and Medicaid Services (CMS) had released a new code in response to the Company's application for Healthcare Common Procedure Coding System (HCPCS) Q codes. The Company first requested that CMS create a new HCPCS Q code for VENDAJE in July 2020 and has now achieved a favorable judgment in July of 2021.

VENDAJE's HCPCS Q-code will be billed as Q4252, and it will become effective from October 1st, 2021. Q-Codes were created to identify drugs, biologicals, medical devices, and services that were not recognized by national HCPCS Level II codes yet required for Medicare claims processing. The HCPCS Committee, a subcommittee of CMS, allocates Q-Codes depending on the Committee's review. The HCPCS national panel manages them, which includes representatives from the Health Insurance Association of America, Blue Cross/Blue Shield, and CMS,

Jason Matuszewski, CEO of BioStem Technologies, states, "Establishment of a unique Q-code for VENDAJE is an integral building block to our growth and reimbursement strategy and will offer greater access to our tissue allografts for patients and providers through Medicare and the CMS system. We are excited about the opportunities that this new Q-code provides for our customers to now more appropriately bill and code for VENDAJE and we anticipate significant growth opportunities. We will continue to work to ensure we can deliver better outcomes that improve quality of life, reduce recovery times, and lower costs."

BioStem Technologies, Inc. is a preclinical biotechnology business that aims to use perinatal tissue and the body's intrinsic biology to heal or reverse the damage created by various degenerative diseases. Local Microenvironment Activation, or LMA, is their patented technology that utilizes a combination of small molecules, cytokines, and growth factors to awaken the microenvironment inside the body and establish communication for tissue repair.