HEMOSTEMIX ANNOUNCES THE APPOINTMENT OF TIMOTHY CHANG TO BOARD OF ADVISORSApril 21, 2020
Calgary, Alberta, April 21, 2020 – Hemostemix Inc. (“Hemostemix” or the “Company”) (TSXV: HEM; OTC: HMTXF) is pleased to announce the appointment of Timothy C. Chang to its Board of Advisors.
Mr. Chang is currently a Private Investor and an investment committee member of an Asian-based hedge fund with average total AUM of approximately US$1 billion. He has also been a consultant to Newport Healthcare Advisors and to SSG Capital Management. Mr. Chang is a renowned private equity investor who has a track record of successful special situations and venture capital business investments throughout the Asian region.
Prior to becoming a Private Investor, Mr. Chang was a Managing Director of Citigroup Venture Capital International Asia Ltd., (CVCI) Hong Kong, 2005 – 2008, where he worked on and invested in private equity deals throughout Asia with a focus on Greater China. Prior to CVCI, from 2003 – 2005, Mr. Chang was Managing Director and Head of Greater China for Cerberus, a distressed assets private equity fund based in New York. Mr. Chang was also an Executive Director, Direct Investments and the Head of the Special Situations Group at AIG Investment Corp. Ltd., Hong Kong.
Timothy Chang graduated Harvard University, Cambridge, MA, Summa Cum Laude with a B.A. in Applied Mathematics and Economics. He completed his senior honors thesis (with Professor Jeffrey Sachs as his thesis advisor) researching and modeling the Predictability of Realignments in the European Monetary System.
“The company is commercializing ACP-01 to treat critical limb ischemia in Japan, South Korea, and across Asia,” said Thomas Smeenk, President & CEO. “Timothy’s foundation is Asia. His relationships are within its financing community. His business experience and knowledge of worthy license partners in the region will be very helpful, as we consummate an agreement wherein we retain scalable production, yet enable our partners to provide sales and distribution on an licensed indication basis,” Smeenk said.
Timothy Chang reflected: “Despite slogging my way through pre-med classes in college like Organic Chemistry and working at a lab at the Harvard Medical School, I somehow forgot to submit my application to medical school. In the late 1970’s and early 1980’s there were limited opportunities for Chinese-Americans to excel on Wall Street, in U.S. politics or law, and in most non-science or non-engineering based fields. My “tiger mom” (who had endured the hardships of being a Chinese immigrant in the US in the 1950’s) thus decided that medicine was the field for her eldest son. I saw things a little differently, rebelled, and decided to head to New York City and Wall Street to try to break new ground. Many years later, though, I have come to realize that I have never lost my love for math and science (especially the science behind medicine). It is thus with great delight that I now find myself in a position to help Hemostemix break new ground in the autologous stem cell therapies and regenerative medicine markets,” Timothy stated.
Hemostemix is a publicly traded autologous stem cell therapy company. 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 conditions of ischemia. ACP-01 has been used to treat over 500 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.
On October 21, 2019, the Company announced the results 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 owns 91 patents across five patent families titled: Regulating Stem Cells, In Vitro Techniques for use with Stem Cells, Production from Blood of Cells of Neural Lineage, and Automated Cell Therapy. For more information, please visit www.hemostemix.com.
Contact: Thomas Smeenk, President, CEO & Founder
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This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions; or, may include statements and words that events or conditions “will,” “would,” “may,” “could,” or “should” occur. Although Hemostemix believes the expectations expressed in such forward-looking statements are based on the reasonable assumptions of Management, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Management on the date such statements are made. By their nature forward-looking statements are subject to known and unknown risks, uncertainties, and other factors which may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the Company’s ability to fund operations and access the capital required to continue operations, the Company’s stage of development, the ability to complete its current clinical trial, complete its futility analysis and the results of such, future clinical trials and results, long-term capital requirements and future developments in the Company’s markets and the markets in which it expects to compete, risks associated with its strategic alliances and the impact of entering new markets on the Company’s operations. Each factor should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise. Additional information identifying risks and uncertainties are contained in the Company’s filing with the Canadian securities regulators, which filings are available at www.sedar.com.
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