Singapore: Canada-based Hemostemix announced that has formed a strategic alliance by way of a binding term sheet with Hemostemix Asia, ("HEMA"), a private, independent company based in Taipei, Taiwan. Hemostemix is a clinical-stage autologous cell-therapy company.

The deal provides the Taiwan firm HEMA with exclusive manufacturing and commercial license to Hemostemix's ACP-01 technology for treating critical limb ischemia (CLI) patients in Taiwan, China, and South Korea.

Upon successful commercialization of ACP-01, HEMA will also establish a manufacturing hub in Taiwan to serve the Asian market. "Our entrance into the Asian market comes at the right time," said, Dr Elmar Burchardt, Hemostemix president and CEO. "By contributing to our multicenter, double-blind, and placebo-controlled phase-2 trial of ACP-01 for CLI across international sites under the same clinical protocol, Hemostemix Asia will help us accelerate our timeline to market. Furthermore, we consider Hemostemix Asia a valuable partner in the development of ACP-01 for other ischemic indications."

"We are enthusiastic and excited to partner with Hemostemix to establish the Asian clinical and development team and future production site for ACP-01 in the treatment of ischemic conditions," said, Mr Jim Brown, Hemostemix Asia president and CEO.

"Hemostemix Asia brings to this alliance a diverse group of business professionals with experience throughout Asia in biotechnology, clinical research, and finance, including some on the management team with more than 10 years of direct experience with ACP-01. We are pleased at the opportunity to initially bring this therapy to CLI patients in Taiwan and then rapidly expand the use of ACP-01 to treat patients suffering from CLI and other ischemic indications in additional Asian countries," he added.