Hemostemix Inc. ("Hemostemix" or the "Company") (TSX VENTURE:HEM), a clinical-stage autologous cell-therapy company, announced today the appointment of Jim Brown, CEO of Hemostemix Asia, Inc. ("HEMA"), to the Company's board of directors, effective immediately. HEMA is a private, independent company based in Taipei, Taiwan. As previously announced, Hemostemix entered into a strategic alliance agreement with HEMA that provides 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.
"Jim's business background and depth of experience will be very important to the Hemostemix go-forward plan," said C.W. (Bill) Baker, chairman of the board.
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 critical limb ischemia (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.
