Calgary, Alberta--(Newsfile Corp. - May 2, 2023) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VF0) ("Hemostemix" or the "Company") is pleased to announce it has engaged Chris McNorgan, PhD, to drive a license agreement of NCP-01 with a company who is pursuing neural electrode-based brain intervention. Dr. McNorgan's research - the neural bases of cognition, including AI methods to decode and simulate neocortical representations of knowledge and motor intention - is directly relatable to neural electrode-based implantation.

Dr. McNorgan directed the Computational Cognitive Neuroscience (CCN) laboratory at the University of Buffalo, where he and his research trainees combined functional MRI, deep learning, and behavioral studies to explore the neural bases of cognition. His research explores how the brain's wiring shapes how we think, primarily in the context of two domains:

1. Multisensory Semantic Processing, which refers to how we think and understand the world with respect to the five senses; and,
2. Reading, which is a highly-practiced skill that maps printed symbols into words that we hear in our heads.

Both activities require cooperation and communication across a network of functionally specialized brain regions, and both can be impacted by damage to the brain or by developmental learning disorders that affect how brain regions communicate.

"Understanding the relationships between brain connectivity and behavior can improve our models of human cognitive processes and help better understand and treat disorders that arise when this connectivity is disrupted, or improved," stated Dr. McNorgan. "NCP offers the recipient its own neuronal cells, which is a great basis to potentially and significantly improve that connectivity. For the most part, neurons do not renew themselves, gradually dying off over the lifetime, either because of disease or the normal aging process. NCP may be an important step towards developing a fountain of youth for the brain, helping it regain the ability to rewire itself," Dr. McNorgan said.

"NCPs are generated from the patient's own blood, and are programmed to generate neurons, astrocyte and oligodendrocyte populations in situ, as well as releasing into the host milieu neurotrophic factors and cytokines known to inhibit inflammation and cellular destruction (apoptosis). NCP-01 would therefore appear to be an exceptional candidate for supporting implantations of electrodes," stated Dr. Henderson, CMO, a practicing neurosurgeon. "We believe the introduction of NCP-01 before, during, and after electrode implantation will have a protective effect on the targeted cell population, promoting healing, minimizing complications and enhancing the signaling processes through promotion of synaptogenesis," Dr. Henderson said. "In layman's terms, our prospects will understand that NCP-01 is a leading candidate to support increased neuronal activity at the site of transplantation and, dose dependently, adjunctively within the central and peripheral nervous system," Dr. Henderson said.

"In a preclinical stroke model, NCPs demonstrated homing to the site of stroke, and engraftment at the site of stroke. These properties may better facilitate the implantation and acceptance of electrodes," stated Dr. Sarel, CSO, especially when we witness NCPs release of brain derived growth factors, nerve growth factors, glial growth factors and neurotrophins."

"Our team now includes top experts in neural cell precursors, neurosurgery and computational AI-based neuroscience" stated Thomas Smeenk, CEO. "I think Chris' expertise, supported by Dr. Henderson's neurosurgical, and Dr. Sarel's stem cell expertise, will drive a license deal of great interest to our shareholders, Smeenk said.

Dr. McNorgan will reach out to and meet with potential partners to discuss licensed applications of NCP-01, alone or in combination with ACP-01, for the neural electrode-based implantation markets.

ABOUT HEMOSTEMIX

Hemostemix is an autologous stem cell therapy company, founded in 2003. A winner of the World Economic Forum Technology Pioneer Award, the Company has developed, patented, and is scaling a patient's blood-based stem cell therapeutics platform that includes angiogenic cell precursors, neuronal cell precursor and cardiomyocyte cell precursors. For more information, please visit .

For further information, please contact:

Thomas Smeenk, President, CEO & Co-Founder
EM: tsmeenk@hemostemix.com
PH: 905-580-4170

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the financing of the Company and its lead product ACP-01 and the commercialization of ACP-01 via the sale of compassionate treatments subject to exemption from regulatory approval. ‎‎There can be no assurance that such forward-looking information will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Hemostemix's current beliefs and is based on information currently available to Hemostemix and on assumptions Hemostemix believes are reasonable. These assumptions include, but are not limited to: the underlying value of Hemostemix and its Common Shares; the successful resolution of the litigation that Hemostemix is pursuing or defending (the "Litigation"); the results of ACP-01 research, trials, studies and analyses, including the analysis being equivalent to or better than previous research, trials or studies; the receipt of all required regulatory ‎approvals for research, trials or studies; the level of activity, market acceptance and market trends in the healthcare sector; the ‎economy generally; consumer ‎interest in Hemostemix's services and products; competition and ‎Hemostemix's competitive advantages; and Hemostemix obtaining satisfactory financing to ‎ fund Hemostemix's operations including any research, trials or studies, and any Litigation. Forward-looking information is Subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Hemostemix to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the ability of Hemostemix to complete clinical trials, complete a satisfactory analyses and file the results of such analyses to gain regulatory approval of a phase II or phase III clinical trial of ACP-01; potential litigation Hemostemix mayface; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations including the actual results of future research, trials or studies; competition; changes in legislation ‎affecting Hemostemix; the timing and availability of external financing on acceptable terms; long-term capital requirements and future developments in Hemostemix's markets and the markets in which it expects to compete;‎ lack of qualified, skilled labour or loss of key individuals; and risks ‎related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to ‎try to limit the pandemic, including travel restrictions, border closures, non-essential business closures service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, disruptions to economic activity and ‎financings, disruptions to supply chains and sales channels, and a deterioration of general economic conditions including a ‎possible national or global recession or depression;the potential impact that the COVID-19 pandemic may have on Hemostemix which may include a decreased demand for the services that Hemostemix offers; and a deterioration of financial markets that could limit Hemostemix's ability to obtain external financing. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Hemostemix's disclosure documents on the SEDAR website at . Although Hemostemix has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Hemostemix as of the date of this news release and, accordingly, it is Subject to change after such date. However, Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

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