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TORONTO, ONTARIO -- (Marketwired) -- 07/23/15 -- Hemostemix, Inc. ("Hemostemix" or the "Company") (TSX VENTURE: HEM), a clinical-stage autologous cell-therapy company, announced today that it has formed a strategic alliance by way of a binding term sheet with Hemostemix Asia, Inc. ("HEMA"), a private, independent company based in Taipei, Taiwan. The agreement covers a manufacturing and commercial license to HEMA of the Hemostemix ACP-01 technology for treating critical limb ischemia (CLI) patients in Taiwan, China, and South Korea. HEMA will fund 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. As part of the licensing agreement, Hemostemix will be an equity partner with 35% ownership in HEMA. Both parties anticipate a definitive agreement to be completed within 30 days.
"Our entrance into the Asian market comes at the right time for the Company," said Dr. Elmar Burchardt, Hemostemix president and CEO. "By contributing to our multicenter, double-blind, and placebo-controlled phase-2 trial of ACP-01 for CLI across international sites under the same clinical protocol, Hemostemix Asia will help us accelerate our timeline to market. Furthermore, we consider Hemostemix Asia a valuable partner in the development of ACP-01 for other ischemic indications."
"We are enthusiastic and excited to partner with Hemostemix to establish the Asian clinical and development team and future production site for ACP-01 in the treatment of ischemic conditions," said Jim Brown, Hemostemix Asia president and CEO. "Hemostemix Asia brings to this alliance a diverse group of business professionals with experience throughout Asia in biotechnology, clinical research, and finance, including some on the management team with more than 10 years of direct experience with ACP-01. We're pleased at the opportunity to initially bring this therapy to CLI patients in Taiwan and then rapidly expand the use of ACP-01 to treat patients suffering from CLI and other ischemic indications in additional Asian countries."
"On behalf of our shareholders, I want to give special recognition to Roger Bergersen for facilitating this transaction," said C.W. (Bill) Baker, Hemostemix chairman of the board. "Roger received the ACP-01 treatment in Thailand in November 2005 and has been a tireless supporter of the company. We look forward to working with Jim Brown and his team on this significant strategic alliance in Asia."
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, Inc.
Hemostemix, Inc. 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 critical limb ischemia (CLI), a severe form of peripheral artery disease (PAD) caused by reduced blood flow to the legs. 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.
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.
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.Contacts: Hemostemix Inc. Dr. Elmar Burchardt President and CEO (617) 500-8401 Hemostemix Inc. C.W. (Bill) Baker Chairman of the Board (403) 818-7672 NEXT ARTICLE
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