Hemostemix Provides Corporate Update and Clarification

CALGARY, Alberta, Jan. 26, 2020 (GLOBE NEWSWIRE) -- Hemostemix Inc. (“Hemostemix” or the “Company”) (TSXV: HEM; OTC: HMTXF) provides the following corporate update and clarification of previous disclosure.

Retraction:

The Company hereby retracts disclosure made by the Company in its January 2020 corporate presentations circulated by the Company as these presentations included several incorrect statements with respect to the number of patients treated, and the Company’s CLI clinical trial size. The correct number of patients treated and CLI clinical trial size are as follows:

ACP-01 has been used to treat over 300 patients, including on a compassionate basis and to no-option heart disease patients.  The current CLI trial size remains at 95 patients.  The Company anticipates that it will conduct a futility analysis for potentially stopping enrolment in the clinical trial when 42 subjects have completed at least 26 weeks of follow-up.

Management:

The Company would also like to announce that Dr. Alan Jacobs has resigned from the position of Chief Medical Officer and President of the Company.

ABOUT HEMOSTEMIX INC.

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 is commercializing its lead product ACP-01 for the treatment of CLI, PAD, Angina, Ischemic Cardiomyopathy, Dilated Cardiomyopathy and other heart conditions. ACP-01 has been used to treat over 300 patients, including no-option end-stage heart disease patients.  ACP-01 has been the subject of several completed clinical studies which were conducted to prove its safety and efficacy. For example, patient #35, who at age 69 was given six months to live before his treatment November 2, 2005, celebrated his 14^th post treatment anniversary in November 2019.

On October 21, 2019, the Company announced the results from its presentation 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 Followup” 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’s clinical trial for CLI is ongoing at 20 clinical sites in North America and 56 of 95 subjects have been enrolled to-date.