TORONTO, ONTARIO and NESS ZIONA, ISRAEL--(Marketwired - May 5, 2014) - Hemostemix, a clinical-stage Canadian-Israeli company that develops and commercializes innovative blood-derived therapies for severe medical conditions, is the newest member of the Centre for Commercialization of Regenerative Medicine's (CCRM) industry consortium. CCRM will provide critical support to Hemostemix through a phase 2 clinical trial in Canada, and potentially internationally, for patients with critical limb ischemia.
Critical limb ischemia (CLI) is a severe blockage in the arteries of the lower extremities, which markedly reduces blood-flow. It is a chronic condition that results in severe pain in the feet, even while resting and despite maximal pain-relieving therapy. Complications of poor circulation can include sores and wounds that won't heal in the legs and feet. Left untreated, the complications of CLI may result in amputation of the affected limb and death. The incidence of CLI increases with age, smoking, and co-morbidities such as diabetes or cardiac disease. It is estimated to currently afflict approximately three million people in the United States alone.
CLI is an unmet medical need and approximately 50% of patients diagnosed will either die or require amputation of the affected limb within one year of diagnosis, according to the American College of Cardiology and the American Heart Association.
"Hemostemix's expertise with blood-derived therapies and manufacturing cells for patients complements the development work taking place at CCRM," says Michael May, CEO of the Centre for Commercialization of Regenerative Medicine. "CCRM can open doors for Hemostemix that will enable their current and future efforts, and we are pleased to welcome them into the industry consortium."
"The company is pleased to be part of the CCRM Industry Consortium," states Dr. Valentin Fulga, Hemostemix President. "We look forward to the myriad of ways CCRM will assist us in moving forward. We are also already engaged in identifying one or more major projects on which we can collaborate with CCRM and/or our fellow industry consortium members that will assist us in meeting our planned objectives."
CCRM's industry consortium currently numbers 35 companies representing the key sectors of the industry: devices, therapeutics, reagents and cells as tools. Please visit http://www.ccrm.ca/industry-consortium to see a complete list of CCRM's members.
About the Centre for Commercialization of Regenerative Medicine (CCRM)
CCRM, a Canadian not-for-profit organization funded by the Government of Canada's Networks of Centres of Excellence program and six academic partners, supports the development of technologies that accelerate the commercialization of stem cell- and biomaterials-based technologies and therapies. A network of academics, industry and entrepreneurs, CCRM aims to translate scientific discoveries into marketable products for patients. CCRM launched in Toronto's Discovery District on June 14, 2011. CCRM is hosted by the University of Toronto.
CCRM has three core development themes: cell reprogramming and engineering; cell manufacturing; and, biomaterials and devices to carry out projects commissioned by academia and industry. CCRM has a fully resourced, 6,000 square foot development facility where all development work takes place.
Hemostemix is a clinical-stage Canadian-Israeli company developing and commercializing innovative, autologous (patient's own), blood-derived cell therapies to treat a variety of medical disorders not adequately address by current treatments. The Company is preparing to launch a phase 2 clinical trial of its lead product (ACP-01) in critical limb ischemia.
Hemostemix Ltd is a company incorporated in Israel with an operating research, development and manufacturing facility in Kiryat Weizmann Science Park, Ness Ziona. Hemostemix and Kwalata Trading Ltd ("Kwalata"), registered in Cyprus, are wholly-owned subsidiaries of Canadian-based parent company, Theravitae Inc ("TVI") (together the "Hemostemix Group"). Kwalata holds the intellectual property on behalf of the Hemostemix Group. TVI has an agreement with Technical Ventures RX Corp (TSX VENTURE:TIK.P) regarding a Qualifying Transaction in which TIK.P would acquire TVI in a share transaction. The two companies are working together to expedite this transaction. The directors of TIK and TVI have approved this press release. For more information see www.hemostemix.com.