Shareholder Update: Creative Medical Technology Holdings, Inc.
PHOENIX, Sept. 24, 2018 /PRNewswire/ -- (OTCQB-CELZ) Creative Medical Technology Holdings, Inc. announced today an update of its progress:
Debt: We have entered into an agreement with three institutional investors in order to wrap up existing debt and provide working capital. These parties intend to provide support to the company through its commercialization of the CaverStemTM program and for future programs being developed. An 8k is being prepared and will be filed in the coming days specifying the terms. The agreement comes with better terms than were previously available and is expected to provide the necessary funding until which time as the company is generating sufficient cash flow to support operating activities.
CaverStem International: After completing meetings between the company and the medical team in Russia last week, it has been determined that the first patients will be scheduled for the CaverStemTM procedure this October.
We also are progressing with the CaverStemTM program in Switzerland and expect to release more information on the treatment of patients in this region soon.
We are pleased with the progress of CaverStem International in the few months since inception and wish to thank the international physicians for their invaluable assistance in its development.
CaverStemTM domestic activities: We are continuing to present the CaverStemTM program to physicians across the United States. Multiple leads were generated from our last AUA conference in Chicago in early September. Physicians that have contractually agreed to become involved with our program are in various stages of training and scheduling of patients. We continue to build brand awareness of CaverStemTM in the cities where the current physicians are located and this will be expanded as other physicians become involved. Our website CaverStem.com will be continually updated, adding new physicians.
Female Sexual Dysfunction: We are continuing the development of our patent pending technology. We are excited that this program, with the working name of FemCelz, will be ready to unveil at medical conferences in the very near future.
Additional conferences in 2018: We intend to present at the Sexual Medicine Society of North America conference in Miami on November 8-11, 2018. Dr. Gershman, Dr. Liu and members of the CaverStemTM team will be in attendance. We will issue a specific press release in the coming days of our attendance and booth number. We are excited with the prospect of meeting new physicians from around the world who specifically treat male and female sexual function.
In response to emails from shareholders seeking specific information on operating activities, it is our policy to release information via press releases and SEC filings. We understand the desire for real time information, however information must be properly disclosed to the public. Advanced information provided to individuals could present an unfair advantage and thus cannot be disclosed. We appreciate our shareholders understanding of our policy to comply with all regulations on this matter.
We wish to extend our appreciation for the support of our shareholders, many of which have been vested in the company for several years, and to new shareholders who have recently become acquainted with us. The Officers and Directors will continue to devote our time and efforts to build the fundamentals of the company and to execute on our multitier business plan.
About Creative Medical Technology Holdings
Creative Medical Technology Holdings, Inc. is a commercial stage biotechnology company currently trading on the OTCQB under the ticker symbol CELZ. For further information about the company go to www.creativemedicaltechnology.com. For more information on our CaverStemTM procedure please go to www.caverstem.com.
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.