Michael Fortunato Assumes CFO Role at BioStem Technologies

BioStem Technologies Inc. has promoted Controller Michael Fortunato, CPA, to chief financial officer.

“BioStem has made substantial progress and is now reaching an exciting inflection point given our strong commercial momentum,” BioStem CEO Jason Matuszewski said. “Looking at the future of BioStem, having Michael in the role of chief financial officer will help bring the company to the next level given his extensive experience in finance, accounting, and strategic execution. I look forward to working with him to advance our mission of revolutionizing wound care.”

Fortunato has more than 28 years of expert level financial accounting, SEC reporting, M&A and IPO experience. He spent 11 years at “Big 4” accounting firms having served clients within the health and life sciences industries. Fortunato spent almost seven years with the SEC’s Enforcement Division, San Francisco Regional Office, where he monitored SEC registrant compliance with SEC rules and regulations for companies located from Northern California to Washington State. He also held various technical accounting and SEC reporting roles with major technology companies located within the San Francisco Bay Area. Fortunato has participated in six IPOs, including Alibaba’s $22 billion initial public offering.

Fortunato earned a bachelor of science degree in accounting from Rutgers University and holds an active CPA license in Florida. 
 
“This is an exciting moment for BioStem and I am thrilled to be in a position to maximize the commercial opportunity and contribute to the company’s success as it transforms into a major player in the wound care space,” Fortunato said. 
 
BioStem Technologies harnesses the natural properties of perinatal tissue to develop, manufacture, and commercialize allografts for regenerative therapies. The company is focused on manufacturing products that change lives, leveraging its proprietary BioRetain processing method. BioRetainhas been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks. Its portfolio of brands includes VENDAJE, VENDAJE AC, and VENDAJE OPTIC. Each BioStem Technologies placental allograft is processed at the company’s U.S. Food and Drug Administration-registered and AATB-accredited site in Pompano Beach, Fla.