IMAC’s BioFirma Subsidiary Announces Registered Status with U.S. Food and Drug Administration

August 13, 2019

BRENTWOOD, Tenn., Aug. 13, 2019 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, announces its BioFirma subsidiary has received “Registered” status with the U.S. Food and Drug Administration (FDA). This registration permits the BioFirma laboratory to package, process, store, label and distribute human cells and tissue. IMAC is now using BioFirma’s NeoCyte® regenerative medicine products in its rehabilitation clinics.

BioFirma is now selling amniotic fluid exosomes to licensed medical doctors in the United States. BioFirma recorded sales of the first exosome product in the second quarter. Ian White, Ph.D., the company's chief scientific officer, and president of BioFirma was recently featured in the docuseries Pain Revealed where he highlighted opportunities of regenerative medicine that he has researched in his career. “Twenty years of academic experience has gone into building a perinatal tissue research and manufacturing facility that stands above the rest,” Dr. White said. “We pride ourselves on quality and FDA compliance as we forge a new paradigm in regenerative medicine.”

“We believe that we have built considerable value in BioFirma during the short period of time since IMAC invested in BioFirma last August,” said Jeff Ervin, chief executive officer of IMAC Holdings. “BioFirma recorded more than $80,000 from the sale of NeoCyte amniotic fluid exosomes during the second quarter of 2019, which was on schedule with our budget. Dr. White is widely recognized as a leader in this industry and this partnership has been successful in developing proprietary assets to support the delivery of regenerative rehabilitation in IMAC clinics.”

About IMAC Holdings, Inc.

IMAC Holdings was created in March 2015 to expand on the footprint of the original IMAC Regeneration Center, which opened in Kentucky in August 2000. IMAC Regeneration Centers combine life science advancements with traditional medical care for movement restricting diseases and conditions. It owns or manages 14 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes, opening two Ozzie Smith IMAC Regeneration Centers, two David Price IMAC Regeneration Centers, and a Tony Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries without surgery or opioids. 

 Safe Harbor Statement

This press release contains forward-looking statements. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC's expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements, and its ability to protect its intellectual property. IMAC encourages you to review other factors that may affect its future results in its registration statement and in its other filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur.

More information about IMAC Holdings, Inc. is available at www.imacregeneration.com

IMAC Press Contact:
Laura Fristoe 
lfristoe@imacrc.com

Investors
LHA Investor Relations
Kim Sutton Golodetz 
(212) 838-3777
kgolodetz@lhai.com

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Source: IMAC Holdings, Inc.