TORONTO, ONTARIO, Sep 14, 2015 (Marketwired via COMTEX) -- Hemostemix Inc. ("Hemostemix" or the "Company") (HEM), a clinical-stage autologous cell-therapy company, announced today that it has executed a strategic alliance agreement with Hemostemix Asia, Inc. ("HEMA"), a private, independent company based in Taipei, Taiwan. The agreement covers 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. According to the agreement, HEMA plans to raise US$5 million toward the implementation of their business plan and contribute up to 20 participants from three to five clinical sites in Taiwan to the ongoing Hemostemix phase-2 clinical trial for treating CLI. HEMA will also establish a manufacturing hub in Taiwan to serve the Asian market upon successful commercialization of ACP-01. The agreement further designates Hemostemix as an equity partner with 35% ownership in HEMA.
"Completion of this deal is a significant step forward for our company," said Dr. Elmar Burchardt, president and CEO of Hemostemix. "Our recent FDA clearance to expand the multicenter, double-blind, and placebo-controlled phase-2 trial of ACP-01 for CLI to the United States combined with expanding it to Asia through a strong partner such as HEMA will help us complete the trial by the first quarter of 2017. Furthermore, with HEMA's experienced management team, Hemostemix will be well positioned to develop ACP-01 for other ischemic indications."
"Taiwan has a mature clinical study environment with a robust biotech and manufacturing infrastructure," said Jim Brown, HEMA president and CEO. "It's an ideal launch site for Hemostemix in Asia. We are very excited about partnering with Hemostemix to develop such a promising therapy for CLI."