InvestmentPitch Media Video Discusses Hemostemix and its Hiring of 4 Biotechnologists to Re-Establish Production of ACP-01 in Montreal and Applying for Grants to Fund Up to 75% of 5-Year Expenses

Rhea-AI Summary

Hemostemix Inc. (OTCQB:HMTXF) is hiring four biotechnologists to boost the production of ACP-01 in Montreal, following a $250,000 funding commitment from McGill University Health Centre Foundation. This funding will support a Phase II clinical trial for ACP-01, aimed at treating ischemic cardiomyopathy. Additionally, the company has applied for grants that could cover up to 75% of its capital and operational costs to establish its cGMP facility over the next five years. Hemostemix specializes in stem cell therapies, with ACP-01 as its flagship product, currently trading at $0.25 a share.

Positive

• Secured $250,000 funding for Phase II clinical trial of ACP-01.
• Hiring four biotechnologists to increase production capabilities.
• Potential grants that could cover up to 75% of initial costs for cGMP facility.

Negative

• None.

VANCOUVER, British Columbia, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Hemostemix Inc. (TSXV:HEM) (OTCQB:HMTXF) (FSE:2VF0), an autologous stem cell therapy company, is hiring four biotechnologists to re-establish the company’s production of ACP-01 in Montreal. This staffing requirement arose because of the recently announced $250,000 Letter of Commitment for funding from the McGill University Health Centre Foundation to fund $250,000 of clinical trial expenses of a phase II double blind randomized clinical trial of ACP-01 as a treatment of ischemic cardiomyopathy at the McGill University Health Centre.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments from Thomas Smeenk, President and CEO of Hemostemix. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Hemostemix” in the search box.

The company is hiring an experienced stem cell therapy Manufacturing Manager, a Quality Control Manager, and two Manufacturing Technologists.

Coincidentally, Hemostemix has applied for Federal and Provincial grant funding that may cover up to 75% of its capital and operating expenses to build and operate its cGMP facility during its first five years of operation.

Founded in 2003, Hemostemix’ principal business is to develop, manufacture and commercialize blood-derived stem cell therapies for medical conditions not adequately addressed by current treatments. A winner of the World Economic Forum Technology Pioneer Award, the company is commercializing its lead product ACP-01, an autologous angiogenic cell precursor for cardiomyopathy and other diseases of ischemia. The company’s process for harvesting stem cells is less invasive, as the stem cells are taken from a patient’s blood, which is a simplified process as compared to taking stem cells from fatty tissue or bone marrow.

The shares are currently trading at $0.25. For more information, please visit the company’s website at www.hemostemix.com, contact Thomas Smeenk, President, CEO and Co-Founder at 905-580-4170 or by email at TSmeenk@hemostemix.com.

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FAQ

What is Hemostemix Inc. planning with the new hires?

Hemostemix Inc. is hiring four biotechnologists to re-establish the production of ACP-01 in Montreal.

How much funding did Hemostemix receive for its clinical trial?

Hemostemix received a $250,000 Letter of Commitment for its Phase II clinical trial expenses from McGill University Health Centre Foundation.

What is the purpose of the Phase II clinical trial for ACP-01?

The Phase II clinical trial for ACP-01 aims to treat ischemic cardiomyopathy.

What is the current stock price of Hemostemix Inc. (HMTXF)?

Hemostemix Inc. is currently trading at $0.25 per share.

What grants has Hemostemix applied for?

Hemostemix has applied for Federal and Provincial grants that may cover up to 75% of its capital and operating expenses for the cGMP facility.