Canadian based and registered, Theravitae, Inc., owns two subsidiaries. One is Hemostemix, Ltd. which is a company incorporated in Israel with an operating research, development and manufacturing facility in Kiryat Weizmann Science Park, Ness Ziona. The other, Kwalata Trading Ltd (“Kwalata”), is a holding company operating and registered in Cyprus.
The company’s technology and related intellectual property was initially developed by the Israeli-based Theravitae Ltd under the direction of Dr. Valentin Fulga. The technology was granted the 2006 Technology Pioneer Award by the World Economic Forum.
After conducting a clinical trial in patients with angina pectoris to evaluate the lead product’s safety and observing encouraging efficacy, Theravitae Ltd began providing its cell therapy product (then called VesCell) to a clinic in Thailand operating as Theravitae Co. Ltd. which treated hundreds of patients from 2005 to 2009 on a compassionate-use basis. While neither Theravitae Inc. nor Dr. Fulga were involved in these treatment after 2006, the product used was centrally manufactured in Theravitae Ltd’s facility in Israel.
The company’s lead product (ACP-01) has now been the subject of three clinical trials, two for critical limb ischemia and one for angina pectoris. In late 2012, based on data submitted from the company’s previous trials, the company received clearance from Health Canada to proceed with a phase 2 trial for patients with critical limb ischemia.
In 2006, Theravitae, Inc. was founded in Canada to move away from the compassionate use business model and focus instead on developing and commercializing the company’s technology through a formal product development pathway. Two more trials were successfully completed in 2006 and 2008 for the treatment of critical limb ischemia. At that point, further progress was delayed while the company was forced through a period of corporate litigation and operational inactivity from which it emerged in late 2012 with a global settlement in which it won complete control of the company’s intellectual property portfolio and unrestricted commercial freedom.
In June 2011, we established a research and manufacturing arm in Israel, Hemostemix Ltd. It operates a state-of-the-art facility including research and development laboratory space and GMP-compliant manufacturing infrastructure.
In July 2013, Theravitae Inc (“TVI”) announced the execution of an arrangement agreement with Technical Ventures RX Corp (TSX-V:TIK.P) ("Technical") regarding a transaction in which Technical would acquire TVI and its subsidiaries in a share transaction immediately prior to which TVI may complete a corporate name change to "Hemostemix Inc.”.
Other than with Theravitae, Inc, a company registered in Canada, we now have no formal or informal, direct or indirect relationship with any company, product, website, clinic, offering, treatment, service or anything called or associated in any way with the name “Theravitae”.