{"id":385853,"date":"2020-11-20T07:03:08","date_gmt":"2020-11-20T12:03:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385853"},"modified":"2020-11-20T07:03:08","modified_gmt":"2020-11-20T12:03:08","slug":"biorestorative-therapies-emerges-from-chapter-11-reorganization","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/","title":{"rendered":"BioRestorative Therapies Emerges from Chapter 11 Reorganization"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">MELVILLE, N.Y., Nov.  20, 2020  (GLOBE NEWSWIRE) &#8212; BioRestorative Therapies, Inc. (\u201cBioRestorative\u201d or the \u201cCompany\u201d) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender.<\/p>\n<p align=\"justify\">In connection with the reorganization, Lance Alstodt has been appointed the Company\u2019s President, Chief Executive Officer and Chairman of the Board. Mr. Alstodt said, \u201cThis process has been a long and challenging journey for the Company. I\u2019m inspired by the great resolve and execution from our employees, professionals and investors. We are very pleased that all requirements have been met for us to emerge. Allowed creditor claims have been fully satisfied and, as importantly, our equity holders have retained their shares in this exciting new opportunity. We were able to preserve all of our intellectual property assets and look forward to initiating our Phase 2 clinical trial.\u201d<\/p>\n<p align=\"justify\">Based upon the Company\u2019s emergence from Chapter 11 reorganization, FINRA has removed the \u201cQ\u201d at the end of its trading symbol. Shareholders do not need to exchange their shares for new shares.<\/p>\n<p align=\"justify\">\n        <strong>About BioRestorative Therapies, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">BioRestorative Therapies, Inc. (www.biorestorative.com) develops therapeutic products using cell and tissue protocols, primarily involving adult stem cells. Our two core programs, as described below, relate to the treatment of disc\/spine disease and metabolic disorders:<\/p>\n<p align=\"justify\">\u2022 Disc\/Spine Program (brtxDISC\u2122): Our lead cell therapy candidate, <em>BRTX-100,<\/em> is a product formulated from autologous (or a person\u2019s own) cultured mesenchymal stem cells collected from the patient\u2019s bone marrow. We intend that the product will be used for the non-surgical treatment of painful lumbosacral disc disorders. The <em>BRTX-100<\/em> production process utilizes proprietary technology and involves collecting a patient\u2019s bone marrow, isolating and culturing stem cells from the bone marrow and cryopreserving the cells. In an outpatient procedure, <em>BRTX-100<\/em> is to be injected by a physician into the patient\u2019s damaged disc. The treatment is intended for patients whose pain has not been alleviated by non-invasive procedures and who potentially face the prospect of surgery. We have received authorization from the Food and Drug Administration to commence a Phase 2 clinical trial using <em>BRTX-100<\/em> to treat persistent lower back pain due to painful degenerative discs.<\/p>\n<p align=\"justify\">\u2022 Metabolic Program (ThermoStem\u00ae): We are developing a cell-based therapy to target obesity and metabolic disorders using brown adipose (fat) derived stem cells to generate brown adipose tissue (\u201cBAT\u201d). BAT is intended to mimic naturally occurring brown adipose depots that regulate metabolic homeostasis in humans. Initial preclinical research indicates that increased amounts of brown fat in the body may be responsible for additional caloric burning as well as reduced glucose and lipid levels. Researchers have found that people with higher levels of brown fat may have a reduced risk for obesity and diabetes.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>This press release contains <\/em><br \/>\n        <em>&#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provision<\/em><br \/>\n        <em>s of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in th<\/em><br \/>\n        <em>e forward-looking statements as a result of various factors and other risks, including, without limitation, those set forth in the Company&#8217;s latest Form 10-<\/em><br \/>\n        <em>K filed<\/em><br \/>\n        <em> with the Securities and Exchange Commission. You should consider these factors in evaluatin<\/em><br \/>\n        <em>g the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the Company undertakes no obligation to update such statements.<\/em>\n      <\/p>\n<p align=\"justify\">CONTACT:<br \/>Email: ir@biorestorative.com<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTczNSMzODM3MjY2IzIwMjg4Mzc=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/2c908972-428f-43b7-b0dc-63cf7f5d1398\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MELVILLE, N.Y., Nov. 20, 2020 (GLOBE NEWSWIRE) &#8212; BioRestorative Therapies, Inc. (\u201cBioRestorative\u201d or the \u201cCompany\u201d) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender. In connection with the reorganization, Lance Alstodt has been appointed the Company\u2019s President, Chief Executive Officer and Chairman of the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BioRestorative Therapies Emerges from Chapter 11 Reorganization&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385853","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BioRestorative Therapies Emerges from Chapter 11 Reorganization - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BioRestorative Therapies Emerges from Chapter 11 Reorganization - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MELVILLE, N.Y., Nov. 20, 2020 (GLOBE NEWSWIRE) &#8212; BioRestorative Therapies, Inc. (\u201cBioRestorative\u201d or the \u201cCompany\u201d) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender. In connection with the reorganization, Lance Alstodt has been appointed the Company\u2019s President, Chief Executive Officer and Chairman of the &hellip; Continue reading &quot;BioRestorative Therapies Emerges from Chapter 11 Reorganization&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-20T12:03:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTczNSMzODM3MjY2IzIwMjg4Mzc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biorestorative-therapies-emerges-from-chapter-11-reorganization\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biorestorative-therapies-emerges-from-chapter-11-reorganization\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"BioRestorative Therapies Emerges from Chapter 11 Reorganization\",\"datePublished\":\"2020-11-20T12:03:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biorestorative-therapies-emerges-from-chapter-11-reorganization\\\/\"},\"wordCount\":686,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biorestorative-therapies-emerges-from-chapter-11-reorganization\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4OTczNSMzODM3MjY2IzIwMjg4Mzc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biorestorative-therapies-emerges-from-chapter-11-reorganization\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biorestorative-therapies-emerges-from-chapter-11-reorganization\\\/\",\"name\":\"BioRestorative Therapies Emerges from Chapter 11 Reorganization - 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(\u201cBioRestorative\u201d or the \u201cCompany\u201d) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender. In connection with the reorganization, Lance Alstodt has been appointed the Company\u2019s President, Chief Executive Officer and Chairman of the &hellip; Continue reading \"BioRestorative Therapies Emerges from Chapter 11 Reorganization\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-20T12:03:08+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTczNSMzODM3MjY2IzIwMjg4Mzc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"BioRestorative Therapies Emerges from Chapter 11 Reorganization","datePublished":"2020-11-20T12:03:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/"},"wordCount":686,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4OTczNSMzODM3MjY2IzIwMjg4Mzc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/biorestorative-therapies-emerges-from-chapter-11-reorganization\/","name":"BioRestorative Therapies Emerges from Chapter 11 Reorganization - 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