The Group has completed three clinical trials and recently received clearance from Health Canada to proceed with a phase 2 clinical trial in Canada for patients with critical limb ischemia. That trial is expected to start in the latter part of 2013.
Toronto, Ontario (PRWEB) May 31, 2013
The Hemostemix Group of Companies released an update today available to shareholders and potential investors outlining key elements of its strategic plan for the upcoming year.
The Hemostemix Group is comprised of HemoStemix Ltd. (HemoStemix), a company incorporated in Israel with an operating research, development and manufacturing facility in Ness Ziona, Kwalata Trading Ltd. (“Kwalata”), registered in Cyprus, and the parent company Theravitae, Inc. (“TVI”) based in Toronto, Ontario, Canada (collectively the “Hemostemix Group” or “Group”).
On May 14, Technical Ventures RX Corp. (TSX-V:TIK.P) announced a letter of intent signed with TVI regarding a proposed Qualifying Transaction in which TIK.P would acquire TVI in a share exchange. For a copy of the press release, see http://bit.ly/TVI-TIK.
TVI has also announced that it has engaged Wolverton Securities Ltd. as agent for a private placement, on a commercially reasonable efforts basis, for minimum gross proceeds of $1 million.
The Hemostemix Group has identified several sources of non-dilutive grant or match funding that it intends to pursue in the near-term for projects which are critical to expediting the company’s commercialization strategy.
The Group has completed three clinical trials to-date, the data from which were submitted last year to Health Canada and which formed the basis for its recent clearance to proceed with a phase 2 clinical trial in Canada for the treatment of critical limb ischemia. That trial is expected to start later this year.
Research & Development
Recently the Group also announced that a Letter of Intent has been signed with the Austrian-based Ludwig Boltzmann Institute for Experimental and Clinical Traumatology (“LBI”) to collaborate in performing experiments to assess various clinical applications for Hemostemix’ technology as well as other potential mutually beneficial projects. The LBI is an organization dedicated to research in the fields of tissue engineering, stem cells and regenerative medicine For more information on LBI, see http://trauma.lbg.ac.at/en/about-us.
The company continues to aggressively file and maintain a global patent portfolio covering a broad technology platform now protected by 37 patents issued in major markets. The Hemostemix Group is also actively identifying and engaging in early-stage discussions pertaining to potential commercial licenses, joint-ventures, and other types of strategic collaborations.
About HemoStemix Ltd.
HemoStemix Ltd. is a company incorporated in Israel with an operating research, development and manufacturing facility in Kiryat Weizmann Science Park, Ness Ziona. HemoStemix and Kwalata Trading Ltd. (“Kwalata”), registered in Cyprus, are wholly-owned subsidiaries of Canadian-based parent company TVI (together the “Hemostemix Group”). Kwalata holds the intellectual property on behalf of the Hemostemix Group.