Intellectual Property Due Diligence and Data Audit Completed
Calgary, Alberta -- Hemostemix Inc. (“Hemostemix” or the “Company”) (TSXV: HEM; OTC: HMTXF; FSE: 2VFO.F) is pleased to announce that, further to its March 23, 2022 news release, Hemostemix has completed the audit of its ACP-01 clinical trial data and intellectual property held by Aspire Health Sciences, LLC (“Aspire”) and Accudata Solutions, Inc. (“Accudata”), and Hemostemix has confirmed the materials held by Aspire and Accudata are complete and appear to be free of manipulation in any way. If and when the closing of the Settlement Agreement occurs, Hemostemix shall pay Aspire a confidential monetary sum for termination of the license agreement and for providing Hemostemix with all clinical trial data and intellectual property of the Company held by Aspire and other signatories of the Settlement Agreement. While the closing of the Settlement Agreement is subject to several conditions and contingencies, and there can be no assurance that the closing of the Settlement Agreement will be completed, the Parties are contracted to close this transaction in the next 30 to 60 days. Hemostemix’s inspection of the materials held by Aspire confirms the underlying disputes were business disputes among the parties and there was no harm to Hemostemix’s intellectual property. This settlement resolves these business disputes, and upon closing of the Settlement Agreement, all three lawsuits will be dismissed with prejudice.
“This is a very significant step forward for Hemostemix. It settles three law suits, returns clinical trial data and all intellectual property to the Company, enables the processing of the Phase II clinical trial results, and frees management to move forward with significant business developments that create strategic value for our shareholders,” stated Thomas Smeenk, CEO.
Hemostemix will provide further information on the Settlement Agreement and closing as further information becomes available.
ABOUT HEMOSTEMIX
Hemostemix is a publicly traded autologous stem cell therapy company, founded in 2003. A winner of the World Economic Forum Technology Pioneer Award, the Company developed and has published seven peer reviewed articles about the safety and efficacy of its lead product ACP-01 as a treatment of CLI, PAD, Angina, Ischemic Cardiomyopathy, Dilated Cardiomyopathy and other conditions of ischemia. ACP-01 has been used to treat over 300 patients, and it is the subject of a randomized, placebo-controlled, double-blind trial of its safety and efficacy in patients with advanced critical limb ischemia who have exhausted all other options to save their limb from amputation.
On October 21, 2019, the Company announced the results from its Phase II CLI trial abstract presentation entitled “Autologous Stem Cell Treatment for CLI Patients with No Revascularization Options: An Update of the Hemostemix ACP-01 Trial With 4.5 Year Follow-up” which noted healing of ulcers and resolution of ischemic rest pain occurred in 83% of patients, with outcomes maintained for up to 4.5 years.
The Company owns 91 patents across five patent families titled: Regulating Stem Cells, In Vitro Techniques for use with Stem Cells, Production from Blood of Cells of Neural Lineage, and Automated Cell Therapy.
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