09:50 AM EST, 01/09/2025 (MT Newswires) -- Hemostemix ( HMTXF ) on Thursday said it amended its manufacturing services agreement with CytoImmune Therapeutics to add regulatory consulting and engineering services and align payments made by Hemostemix PR with the policies of both the TSX Venture Exchange and Puerto Rico's ACT 60 Program.

The company said CytoImmune's regulatory expert is advising Hemostemix ( HMTXF ) on its regulatory strategy, protocol development, and Phase I-III clinical trials. The company added that CytoImmune's engineering team is advancing Hemostemix's ( HMTXF ) patented automated cell therapy system (ACTS).

Hemostemix ( HMTXF ) said CytoImmune and the company are conducting a feasibility study to determine the maximum production capacity of CytoImmune's 38,000-square-foot facility on two floors, located in San Juan, Puerto Rico.

The company also said that payments to CytoImmune will be made in cash by Hemostemix PR to qualify for ACT 60 reimbursement as part of the amended agreement. Payments will be made in arrears and CytoImmune will reinvest these proceeds into Hemostemix's ( HMTXF ) equity at the then-market value.

"CytoImmune is very bullish on Hemostemix's ( HMTXF ) equity for good reason," said Hemostemix ( HMTXF ) Chief Executive Thomas Smeenk. "Our automated production system will allow us to produce therapies at scale, transforming access to innovative treatments for cardiovascular diseases."

Shares of the company closed up $0.040 or 38%, to $0.145 on Wednesday on the TSX Venture Exchange.

Price: 0.15, Change: +0.01, Percent Change: +3.45