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Creative Medical Technology Holdings Corporate Update
June 17, 2020 8:55 AM EDT | Source: Creative Medical Technology Holdings, Inc.
Phoenix, Arizona--(Newsfile Corp. - June 17, 2020) - Creative Medical Technology Holdings, Inc. (OTC PINK: CELZ), a leading commercial stage regenerative medicine company focused on Urology, Orthopedics and Neurology using adult stem cell treatments, today announced business updates and plans for remainder of 2020.
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Business Highlights
Debt
From January 1st, 2020 through May 31st, 2020 the company has reduced our debt by over $300,000 (22% reduction) and eliminated debt to one lender entirely. As sales continue to gain momentum, we are committed to reducing this debt further and to be cash flow positive by the end of 2020.
CaverStem® Regenerative Stem Cell Procedure for Treatment of Erectile Dysfunction in Men
We started the New Year with the publication of our landmark results in the largest non-drug ED clinical trial in the Journal of Translational Medicine[1]. Healthcare Professional (HCP) Recruitment/Training saw a gain with 4 new practices coming onboard in the first 45 days with multiple other locations expressing interest.
The outbreak of COVID-19 affected our business as existing practices as well as interested practices were impacted by restrictions placed on physicians performing elective procedures and an uncertain economy.
In the past 4 weeks we have seen a resurgence in our business with reorders from existing practices as well as greater interest from new practices. Much of the interest is coming from referrals from existing practices successfully treating patients.
We expect this increase to continue and to grow in the 3rd quarter.
FemCelz® Regenerative Stem Cell Procedure for Treatment of Female Sexual Dysfunction
As described within our CaverStem® summary, FemCelz® was also impacted by COVID-19. We are continuing to expand our practice base and anticipate a positive incline in this business as well.
OvaStemTM Regenerative Stem Cell Procedure for Treatment of Premature Ovarian Failure
We are pleased to announce notification from the US Patent and Trademark Office that our Patent claims have been issued. The issued claims are broad and provide patent protection for the use of stem cells from multiple origins including autologous bone marrow derived stem cells and allogenic stem cells derived from sources such as amniotic fluid and cord blood.
The broad claims provide the company significant flexibility as we shall pursue the Autologous method of treatment as CaverStem® and FemCelz®. We may also pursue the Allogenic method which would require Clinical Trials and FDA approval. It is our goal to seek out a joint venture partner to execute on the Allogenic model as significant time and resources would be required.
AmnioStem™ and StemSpine®
Updates will be released soon.
About Creative Medical Technology Holdings:
Creative Medical Technology Holdings, Inc. is a commercial stage regenerative medicine company specializing in stem cell technology in the fields of urology, neurology and orthopedics and trades on the OTC under the ticker symbol CELZ. For further information about the company, please visit: www.creativemedicaltechnology.com.
Forward Looking Statements
OTC Markets has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming clinical trials and laboratory results, marketing efforts, funding, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. See the periodic and other reports filed by Creative Medical Technology Holdings, Inc. with the Securities and Exchange Commission and available on the Commission's website at www.sec.gov.
www.CreativeMedicalTechnology.com
www.CaverStem.com
www.FemCelz.com
www.StemSpine.com
www.OvaStem.com
Timothy Warbington, CEO
480-789-9939
[1]Bieri et al. Phase I and Registry Study of Autologous Bone Marrow Concentrate Evaluated in PDE5 Inhibitor Refractory Erectile Dysfunction. J TranslMed. 2020 Jan 14;18(1):24.
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