Hemostemix Inc.

Hemostemix Inc.

September 14, 2015 08:30 ET

Hemostemix Executes Strategic Alliance with Hemostemix Asia for Expansion of Phase-2 Clinical Trial to Taiwan

TORONTO, ONTARIO--(Marketwired - Sept. 14, 2015) - Hemostemix Inc. ("Hemostemix" or the "Company") (TSX VENTURE:HEM), a clinical-stage autologous cell-therapy company, announced today that it has executed a strategic alliance agreement with Hemostemix Asia, Inc. ("HEMA"), a private, independent company based in Taipei, Taiwan. The agreement covers a manufacturing and commercial license of the Hemostemix ACP-01 technology to HEMA for treating critical limb ischemia (CLI) patients in Taiwan, China, and South Korea. According to the agreement, HEMA plans to raise US$5 million toward the implementation of their business plan and contribute up to 20 participants from three to five clinical sites in Taiwan to the ongoing Hemostemix phase-2 clinical trial for treating CLI. HEMA will also establish a manufacturing hub in Taiwan to serve the Asian market upon successful commercialization of ACP-01. The agreement further designates Hemostemix as an equity partner with 35% ownership in HEMA.

"Completion of this deal is a significant step forward for our company," said Dr. Elmar Burchardt, president and CEO of Hemostemix. "Our recent FDA clearance to expand the multicenter, double-blind, and placebo-controlled phase-2 trial of ACP-01 for CLI to the United States combined with expanding it to Asia through a strong partner such as HEMA will help us complete the trial by the first quarter of 2017. Furthermore, with HEMA's experienced management team, Hemostemix will be well positioned to develop ACP-01 for other ischemic indications."

"Taiwan has a mature clinical study environment with a robust biotech and manufacturing infrastructure," said Jim Brown, HEMA president and CEO. "It's an ideal launch site for Hemostemix in Asia. We are very excited about partnering with Hemostemix to develop such a promising therapy for CLI."

About Critical Limb Ischemia (CLI)

CLI is a severe form of peripheral artery disease (PAD) caused by reduced blood flow to the legs. About half of CLI patients either die or require amputation of the affected limb within one year of diagnosis. Demand for a treatment is on the rise, as CLI predominately affects the growing population aged 50 and older.

About Hemostemix

Hemostemix is a public clinical-stage biotechnology company that develops and commercializes innovative blood-derived cell therapies for medical conditions not adequately addressed by current treatments. It is the first clinical-stage biotech company to test a stem-cell therapy in an international, multicenter, phase-2 clinical trial for patients with CLI. The phase-2 trial targets a participant's diseased tissue with proprietary cells that are grown from his or her blood and capable of supporting the formation of new blood vessels. Hemostemix currently enrolls participants in the phase-2 trial at four sites in South Africa and two sites in Canada.

Hemostemix Inc. is traded on the TSX Venture Exchange under the trading symbol HEM. For more information, visit hemostemix.com or email office@hemostemix.com.

Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," and similar expressions, or that events or conditions "will," "would," "may," "could," or "should" occur. Although Hemostemix believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Hemostemix management on the date such statements were made. Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Contact Information

  • Hemostemix Inc.
    Dr. Elmar Burchardt
    President and CEO
    (617) 500-8401

    Hemostemix Inc.
    Dr. Rahul Sarugaser
    Vice President, Corporate Development
    (647) 919-8820