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BioStem Technologies to acquire Mexican stem cell company

Florida's BioStem Technologies Inc. signed a letter of intent to fully acquire Grupo Impulso De Incentivacion Para Nuevas Tecnologias, or GIINT, through a stock swap.

Financial terms of the deal, which remains subject to due diligence, were not disclosed.

The deal will add Mexico-based GIINT's stem cell research, development, storage, and advanced treatments and protocols to BioStem's knowledge in the stem cell and regenerative medicine sectors, BioStem Technologies CEO Henry Van Vurst said in a news release.

GIINT assets also include a laboratory for processing stem cells and partnerships with over 20 health institutions in Mexico and around the world.

GIINT provides regenerative medicine services through its units Indebioc and Store-a-Cell.

BioStem is focused on pharmaceuticals and regenerative medicine.