TORONTO, ONTARIO–(Marketwired – Nov. 30, 2015) –
NOT FOR DISSEMINATION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Hemostemix Inc. (“Hemostemix” or the “Company“) (TSX VENTURE:HEM), a clinical-stage autologous cell-therapy company, announces it has been invited to attend the coveted JP Morgan Conference in San Francisco and will update investors on the progress of the Company. The Company is in preparations to expand the number of clinical trial sites and to open the first US centers to enrollment. The trial is ongoing and continues to enroll patients in two centers in Canada and in four centers in South Africa.
The Company also announces that two lawsuits have been filed against it by a former officer and a consultant. One claim is with respect to a dispute over the exercise of stock options and the enforcement of a previous settlement agreement between the Company and a former officer who was previously terminated. The second claim was filed by a former consultant with respect to breach of contract and wrongful dismissal. The Company is currently reviewing the claims with its legal advisors and is considering filing counter-claims against both parties for damages. Management of the Company believes both claims are without merit and will be defended vigorously.
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), 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. The Company has recently received FDA clearance to commence clinical trials in the USA.
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.
Dr. Elmar Burchardt
President and CEO
Phone: (617) 500-8401
C.W. (Bill) Baker
Chairman of the Board
Phone: (403) 818-7672