Hemostemix Announces Letter of Commitment, Non-Dilutive Funding Structure and $250,000 of Funding by the McGill University Health Centre Foundation
January 19, 2023 (Source) – Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (“Hemostemix” or the “Company”) is pleased to announce it has received a $250,000 Letter of Commitment for funding from the McGill University Health Centre (MUHC) Foundation. The Letter of Commitment confirms that the MUHC Foundation will fund $250,000 of the clinical trial expenses and partner with Hemostemix, Dr. Nadia Giannetti and Dr. Renzo Cecere to complete a phase II double blind randomized clinical trial of ACP-01 as a treatment of ischemic cardiomyopathy at the McGill University Health Centre (MUHC).
In 2020, the MUHC Foundation launched its $200 million Dream Big Campaign to change the course of lives and medicine. The Dream Big Campaign is designed to ensure bold innovations like ACP-01 are well supported by philanthropy. To reach that goal, Hemostemix and the MUHC Foundation are committed to working together with federal and provincial partners alongside donors to fund the phase II clinical trial at the McGill University Health Centre.
“Given our three investigator led studies of 179 ischemic cardiomyopathy subjects demonstrates ACP-01 is safe and generates a statistically significant improvement in left ventricle ejection fraction, the interest of Dr. Giannetti and Dr. Cecere and the MUHC Foundation is pivotal, as it enables Hemostemix to raise additional non-dilutive clinical trial funding. Investors can also choose to support this exciting innovation through a tax-deductible donation to the MUHC Foundation,” stated Thomas Smeenk, CEO.
“Innovation is key to advancing medicine. The MUHC Foundation is proud to help bring this ground-breaking clinical trial to the MUHC. Our partnership with Hemostemix will not only benefit patients at the MUHC living with cardiomyopathy, but create new knowledge that will benefit people with the disease across Canada and around the world,” says Julie Quenneville, President, MUHC Foundation.
Dr. Giannetti received her medical degree from McGill University. After training in cardiology at McGill, she went on to pursue a Fellowship in Heart Failure and Cardiac Transplantation at Stanford University in California. She returned to McGill to become an Attending Cardiologist and an Associate Professor in the Department of Medicine. Along with her team, Dr. Giannetti participates in the care of over 1,000 patients with heart failure. She is the former Chief of Cardiology at the McGill University Health Centre (2010-2021) and since 2021 she has been the Associate Physician-in-Chief for the Department of Medicine at the McGill University Health Centre.
Dr. Cecere is the McGill University Chief of Cardiac Surgery, Surgical Director of the Heart Failure and Heart Transplantation Program, and Director of the Mechanical Circulatory Support Program. He is also Associate Member of McGill University’s Department of Mechanical Engineering, and a Director and Principal Investigator of the Research Institute of the MUHC’s Myocardial Regeneration Laboratory.
For over a decade, Dr. Cecere’s lab has been investigating novel methods to strengthen the stem-cell induced regeneration of infarcted heart tissue. Dr. Cecere has utilized placenta-derived stem cells and investigated their regenerative potential in different animal models of myocardial infarction (“MI”). More recently, Dr. Cecere’s lab is actively involved in a project to create a platform to generate patient-specific cardiomyocytes from the blood of patients with heart failure. In Dr. Cecere’s recent project (under review, Journal of Tissue Engineering and Regenerative Medicine), the team encapsulated placenta derived stem cells in a hydrogel scaffold and implanted it in a rat MI model. The stem cell/scaffold composite enhanced several parameters of cardiac function, including ejection fraction and fractional shortening, while also reducing fibrosis and increasing angiogenesis. In fact, Dr. Cecere’s lab recently published a systematic review and meta-analysis that demonstrated that stem cells combined with bioactive scaffolds provide enhanced tissue regeneration in animal models of MI, compared to stem cells injected alone. This study paves the way for future research and clinical trials, supporting the use of ACP-01-based bioactive scaffolds to improve the stem cell-induced repair after a MI.
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. For more information, please visit www.hemostemix.com.
For further information, please contact: Thomas Smeenk, President, CEO & Co-Founder
EM: email@example.com PH: 905-580-4170
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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: the lead product ACP-01, the Phase II Clinical Trial of ischemic cardiomyopathy and related results, the retrospective study of ischemic and dilated cardiomyopathy, and the commercialization of ACP-01. 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 underlying value of Hemostemix and its Common Shares; the successful resolution of the litigation that Hemostemix is pursuing or defending (the “Litigation“); 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; and Hemostemix obtaining satisfactory financing to fund Hemostemix’s operations including any research, trials or studies, and any Litigation. 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 Hemostemis mayface; 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.