CALGARY, Alberta, April 01, 2019 (GLOBE NEWSWIRE) -- Hemostemix Inc. (“Hemostemix” or the “Company”) (TSX VENTURE: HEM; OTCQB: HMTXF) is pleased to announce that Dr. Alan J. Jacobs, M.S.EE, M.D, Ph.D. has been appointed the Company’s President and Chief Medical Officer. Dr. Jacobs previously acted as a medical consultant to the Company. Dr. Jacobs takes over the role of President from Kyle Makofka who remains as the Company’s Chief Executive Officer. Dr. Jacobs will be responsible for the overall management and coordination of the scientific and research operations of the Company surrounding the angiogenic cell precursor (ACP-01) and neuronal cell precursor (NCP) products, oversight of the Company’s current Phase II clinical trial for critical limb ischemia (“CLI”), preparation of the Phase III trial CLI, IND submissions for additional clinical indications, as well as identifying new therapeutic opportunities for the Company.
Dr. Alan Jacobs brings over 20 years of experience leading multi-international teams in the research and development of therapeutics and medical devices. His executive experience also encompasses fundraising, grant funding, regulatory allowances, manufacturing design, and intellectual property. He has been awarded numerous research grants, fellowships, patents, awards and honors, and has authored numerous publications. He has served on several committees, including the National Institutes of Health NINDS Stroke Progress Review Group, American Society of Experimental Neurotherapeutics, Health Technology Center Expert Panel Stem Cell Technology, and the American Society of Neurotransplantation and Repair.
He began his research and development career at Elan Pharmaceuticals where he designed and managed clinical drug trials, drug development protocols and safety infrastructures for investigations of Prialt in traumatic brain injury and peri-operative pain management. Prialt was subsequently approved by the FDA for the treatment of severe chronic pain. At Layton Biosciences he led the clinical development of a human neuron transplant to treat stroke patients. Dr. Jacobs led the international clinical development at Titan Pharmaceutics for Spheramine in Parkinson’s Disease and Probuphine for opiate dependence. Probuphine was subsequently approved by the FDA for the treatment of opiate addiction. Dr. Jacobs was the CMO and Vice President of Clinical Research at Stem Cells, Inc., where he led the clinical development of neural stem cell implantation for the treatment for Batten’s disease in children. His work has also contributed to two licensing transactions with big pharma, one for an Alzheimer’s disease treatment that was licensed to Astellas Phama, Inc. in a $760 million transaction, and development of a monoclonal antibody to prevent infections in patients on mechanical ventilators that was licensed to Sanof Pasteur in a $290 million transaction.
Dr. Jacobs was previously the President and CTO at PerceptiMed, where he invented technologies to eliminate medication errors in retail pharmacies and in-patient facilities. He led the company to the successful commercial launch of ScripClip, which is now being used in pharmacies across the US and Canada, and has dispensed more than three million prescriptions without error. He holds several patents for the IdentRx medication verification system and was the Principle Investigator on a US$1.5 million National Institutes of Health Fast-track clinical study of IdentRx in a long-term care facility. He was also the recipient of two Qualifying Therapeutic Discovery Project Grants, and a Small Business Innovation Research Grant for Producing Human Neuronal Cells to Treat Stroke.
Dr. Jacobs received a Bachelor of Science degree (Electrical Engineering) from Cornell University and a Master of Science degree (Electrical Engineering) from Stanford University. He also holds a Medical Doctorate from the School of Medicine at University of Pennsylvania and a Ph.D. from the David Mahoney Institute of Neuroscience, University Pennsylvania, where he was a Fellow in the Medical Scientist Training Program of the National Institute of General Medical Sciences and a Research Fellow in the American Heart Association. Dr. Jacobs completed an internship in General Surgery and was a resident in Neurological Surgery at the University of California, San Francisco Medical Center.
"It's an exciting opportunity to be joining Hemostemix as its President and CMO," states Dr. Jacobs. “I am very pleased to be part of the executive leadership team of the Company at this critical time in regenerative medicine, as the need for new approaches to treating patients with ischemic diseases has never been greater. After reviewing the high degree of clinical data that the Company has developed, I believe there is significant potential for ACP-01 to change how many diseases are treated. Building on the Company’s recent accomplishments in manufacturing, research and development and its clinical trial, I feel 2019 will be a transformative year for the Company where we reach corporate goals for not only the current CLI trial, but also showcase how the technology can transform treatments for other disease indications."
"With the Company’s focus on commercializing and expanding its technology platform, Alan fills a critical role in furthering our corporate and scientific objectives and we are extremely pleased to have someone of his calibre join our executive team. Alan has a proven track record of leadership in clinical development, including advancing multiple therapeutics through all phases of development, from preclinical data and IND filing to regulatory approval and commercial launch." said Kyle Makofka, CEO of Hemostemix. "Dr. Jacobs’ extensive experience with manufacturing automation, commercial launches and licensing of new products will be instrumental to the Company’s transition from R&D to commercialization and he will be a major asset for us to realize maximum value for the company and its shareholders.”
The Company has granted Dr. Jacobs stock options to acquire 1,050,000 common shares of the Company at a price of $0.08 for a period of five years from the date of grant. The stock options are subject to vesting provisions that extend until August 1, 2021.
The Company also announces the resignation of Dr. Ravi Jain from the position of Chief Scientific Officer of the Company. The Company would like to thank Dr. Jain for his efforts and scientific contributions to the Company and wishes him well in his future endeavors.
ABOUT HEMOSTEMIX INC.
Hemostemix is a publicly traded clinical-stage biotechnology company that develops and commercializes innovative blood-derived cell therapies for medical conditions not adequately addressed by current treatments. It is one of the first clinical-stage biotech companies to test a stem-cell therapy in an international, multicenter, Phase II clinical trial for patients with critical limb ischemia (“CLI”), a severe form of peripheral artery disease (“PAD”) caused by reduced blood flow to the legs. The Phase II trial targets a participant’s diseased tissue with proprietary cells grown from his or her blood that can support the formation of new blood vessels. The Company’s intellectual property portfolio includes over 50 patents issued or pending throughout the world. Hemostemix has a manufacturing contract with Aspire Health Science, LLP (“Aspire”), for the production of ACP-01 and for research and development purposes at Aspire’s Orlando, Florida, facility. Building towards commercialization, Hemostemix has also licensed the use, sale and import of ACP-01 for certain indications to Aspire in certain jurisdictions. The Company is continuing research and development of its lead product, ACP-01 with other applications, including cardiovascular, neurological and vascular indications.
Kyle Makofka, CEO
Suite 2150, 300– 5th Avenue S.W.
Calgary, Alberta T2P 3C4
Phone: (403) 506-3373
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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 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 reasonable assumptions, 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 Hemostemix management on the date such statements were 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 stage of development, future clinical trials and results, long-term capital requirements and future ability to fund operations, 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.