Bio-Matrix Scientific Group, Inc. Signs Letter of Intent with VIBRAGENE for DNA / Genetic Testing
Thursday April 3, 9:01 am ET
SAN DIEGO--(BUSINESS WIRE)--Bio-Matrix Scientific Group Inc. (OTCBB:BMSN - News), a biotechnology company focused on adult stem cell processing and cryogenic storage, announced today that it has entered into a Letter of Intent with VIBRAGENE, an anti-aging and genetic analysis company.
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Pursuant to the Letter of Intent, it is proposed that Bio-Matrix Scientific Group, Inc. will perform human DNA genetic testing for biomarkers that may play important roles in disease development. VIBRAGENE anticipates sending 100,000 specimens to Bio-Matrix for testing during the next 12 months.
Additionally, Bio-Matrix will supply DNA testing kits to VIBRAGENE for the collection of DNA specimens.
Completion of the proposed agreement is subject to a number of conditions, including but not limited to, the establishment of pricing acceptable to the parties.
With recent advances in sequencing of the human genome, personalized medicine will become increasingly important in the treatment of diseases. The addition of DNA testing capability at the company’s Facility complements Bio-Matrix’ business lines of processing and storing stem cells for future medical uses.
Bio-Matrix currently has two Class 100,000 DNA laboratories that will be utilized to reduce the risks of contamination during DNA amplification and testing. These laboratories, combined with our current cGMP/cGTP requirements as an FDA registered Facility for stem cell operations, will assure clients of the highest standards in all technologies used.
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