Hemostemix Announces Exploring Clinical Trial Financing Alternatives
Calgary, Alberta–(Newsfile Corp. – October 4, 2022) – Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VFO) (« Hemostemix » or the « Company« ) is pleased to announce that the Company has commenced discussions with pharmaceutical companies to explore potential clinical trial financing alternatives for its lead product ACP-01 (the « Clinical Trial Financing Alternatives« ), after retaining experts in the field of biotech business development who have significant experience completing deals on behalf of pharmaceutical companies with promising companies like Hemostemix.
« Given the published safety and efficacy profile of ACP-01, based on the compassionate treatment of 500 subjects treated for ischemic and dilated cardiomyopathy, peripheral arterial disease, critical limb ischemia, COPD and idiopathic pulmonary hypertension, and vascular dementia, it makes sense to enter discussions with potential partners with the goal of unlocking the value of our lead product ACP-01 for our shareholders, » Thomas Smeenk, CEO, said.
Hemostemix’s discussions with pharmaceutical companies in respect of potential Clinical Trial Financing Alternatives is at a preliminary stage. No Clinical Trial Financing Alternatives have been agreed to among Hemostemix and any other person. No decision on any particular Clinical Trial Financing Alternative has been reached at this time. There can be no assurance that exploring such Clinical Trial Financing Alternatives with pharmaceutical companies will result in any clinical trial financing or any change in Hemostemix’s current operations, financial structure, assets or prospects, that Hemostemix will pursue any particular Clinical Trial Financing Alternative nor that any transaction will be concluded at all as a result of its discussions for Clinical Trial Financing Alternatives. Hemostemix will provide a further update in relation to its discussion and exploration in relation to Clinical Trial Financing Alternatives when and if its Board of Directors has approved a specific transaction, if any, another course of action has been approved by the Board of Directors or the Board of Directors otherwise deems disclosure of its exploration for Clinical Trial Financing Alternatives is appropriate.
ABOUT HEMOSTEMIX
Hemostemix is an autologous stem cell therapy company, founded in 2003. A winner of the World Economic Forum Technology Pioneer Award, the Company has developed, patented, and is scaling a patient’s blood-based stem cell therapeutics platform that includes angiogenic cell precursors, neuronal cell precursor and cardiomyocyte cell precursors. Seven studies including 260 ACP-01 recipients define its safety and efficacy profile as a treatment for heart diseases such as Dilated and Ischemic Cardiomyopathy, Angina, and diseases of Ischemia such as Critical Limb Ischemia. The Company owns 91 patents across five patent families. For more information, please visit www.hemostemix.com.
For further information, please contact: Thomas Smeenk, President, CEO & Co-Founder
EM: tsmeenk@hemostemix.com PH: 905-580-4170
Neither the TSX Venture Exchange 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 Information: This news release contains « forward-looking information » within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: Hemostemix’s discussions with pharmaceutical companies to explore potential Clinical Trial Financing Alternatives, including, potential partners, the goal of unlocking value for Hemostemix’s shareholders, and updates in respect of Clinical Trial Financing Alternatives. There can be no assurance that such forward-looking information will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Hemostemix’s current beliefs and is based on information currently available to Hemostemix and on assumptions Hemostemix believes are reasonable. These assumptions include, but are not limited to: the ability of Hemostemix to successfully negotiate Clinical Trial Financing Alternatives with a pharmaceutical company; the results of ACP-01 research, trials, studies and analyses, including the analysis being equivalent to or better than previous research, trials or studies; the receipt of all required regulatory approvals for research, trials or studies; the level of activity, market acceptance and market trends in the healthcare sector; the economy generally; consumer interest in Hemostemix’s services and products; competition and Hemostemix’s competitive advantages; the successful resolution of any litigation or arbitration that Hemostemix is defending or pursuing; and Hemostemix obtaining satisfactory financing to fund its operations including any research, trials or studies, and any litigation or arbitration. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Hemostemix to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the ability of Hemostemix to complete clinical trials, complete a satisfactory analyses and file the results of such analyses to gain regulatory approval of a phase II or phase III clinical trial of ACP-01; potential litigation Hemostemix may face; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations including the actual results of future research, trials or studies; competition; changes in legislation affecting Hemostemix; the timing and availability of external financing on acceptable terms; long-term capital requirements and future developments in Hemostemix’s markets and the markets in which it expects to compete; lack of qualified, skilled labour or loss of key individuals; and risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, disruptions to economic activity and financings, disruptions to supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession or depression; the potential impact that the COVID-19 pandemic may have on Hemostemix which may include a decreased demand for the services that Hemostemix offers; and a deterioration of financial markets that could limit Hemostemix’s ability to obtain external financing. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Hemostemix’s disclosure documents on the SEDAR website at www.sedar.com. Although Hemostemix has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Hemostemix as of the date of this news release and, accordingly, it is subject to change after such date. However, Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.