The company is looking to raise gross proceeds of up to $650,000 from the placement of up to 65 million units priced at $0.01 per unit. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.05 for 12 months, subject to an acceleration clause.
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Video Transcript:
I’m Cassandra Bolinski for Investmentpitch Media
Hemostemix Inc. has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $650,000 from the placement of up to 65 million units priced at $0.01 per unit.
The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.05 for 12 months, subject to an acceleration clause.
The shares are currently trading at $0.01.
Hemostemix is currently developing a treatment for critical limb ischemia or CLI, a chronic condition and the most severe and deadliest form of peripheral arterial disease (PAD) with limited treatment options and no current approved drug treatments.
With a high rate of amputation and mortality, CLI is quickly becoming a global economic burden as it is expensive to treat.
The economic costs of CLI and cardiovascular disease in the United States alone are over $800B annually.
Hemostemix’s technology platform for developing autologous cell therapies has the potential to treat a broad range of vascular diseases.
A winner of the World Economic Forum Technology Pioneer Award, Hemostemix developed and is commercializing its lead product ACP-01 for the treatment of CLI, PAD, Angina, Ischemic Cardiomyopathy, Dilated Cardiomyopathy and other conditions of ischemia.
ACP-01 has been used to treat over 300 patients, and it is the subject of a randomized, placebo-controlled, double blind trial of its safety and efficacy in patients with advanced critical limb ischemia who have exhausted all other options to save their limb from amputation.
Hemostemix announced last October that 83% of the patients followed for up to 4.5 years by the University of Toronto and University of British Columbia as the first cohort of patients in its FDA approved clinical trial saved their limb from amputation, experienced healing of related wounds, and experienced cessation of constant pain.
Hemostemix owns 91 patents across five patent families.
The company recently appointed Dr. Pierre Leimgruber, MD, FACC as its chief medical officer.
Dr. Leimgruber, a specialist in the prevention and treatment of cardiovascular disease, has worked for 32 years as an interventional cardiologist affiliated with four leading Spokane hospitals.
He also serves as Clinical Associate Professor of Medicine at the University of Washington School of Medicine in Seattle.
Thomas Smeenk, CEO, stated: “I have known Dr. Leimgruber since 2008, when he was introduced to me by my good friend and co-founder, the late Roger Bergersen. As many shareholders know, Roger was ACP-01 recipient-patient #35, and a heart patient of Dr. Leimgruber’s shortly after his procedure. So, Dr. Leimgruber knows how ACP-01 helped Roger beat the odds to live another 14.5 years. From his 32 years of interventional cardiology and first-hand knowledge of the outcomes of ACP-01 treatments, I am very thankful Dr Leimgruber has agreed to help navigate the buildout of the company.”
Dr. Pierre Leimgruber, MD, FACC, stated: “After performing thousands of angioplasties and stent placements in patients with severe coronary, carotid artery and in patients with peripheral artery disease (PAD) and severe critical limb ischemia (CLI) , I keenly understand this market and the significant promise ACP-01 offers the millions of afflicted. We know ACP-01’s clinical outcomes and phase II open label data is world class to-date. We know its medical applications – CLI & PAD, Angina, Ischemic & Dilated Cardiomyopathy – are unmet needs at a global scale. Now we will see if the blind placebo controlled phase II results enable the Company to commercialize.”
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.
I’m Cassandra Bolinski for Investmentpitch Media
