In a press release this morning, Hemostemix Inc. (TSXV: HEM) (OTC Pink: HMTXF) announced it had signed a Letter of Intent (“LOI”) with CytoImmune Therapeutics. The LOI will re-establish production of ACP-01 (“ACP”) in CytoImmune’s state-of-the-art clinical cell manufacturing facility. In the same release, Hemostemix announced that it had received commitments for $1,800,000 of Units in a non-brokered private placement.
Peripheral arterial disease impacts over 230 million people and approximately 10% of these patients degenerate into CLTI, leading to limb amputation and even death. In Hemostemix’s phase II clinical trial of ACP-01, 83% of patients followed for up to 4.5 years by the University of Toronto and the University of British Columbia experienced healing of ulcers, cessation of pain, no major amputation, and improvement. Unblinded, these 83% were treated with ACP.
CytoImmune Therapeutics is a clinical-stage immunotherapy company. Hemostemix develops and commercializes innovative blood-derived cell therapies for medical conditions that are not adequately addressed by current treatments. Canadian shares of Hemostemix were up over 60 percent in afternoon trade.
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