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 Lett
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