HemaCare Corp. announced that it has acquired an exclusivelicense in the U.S. to passive hyperimmune therapy (PHT), amethod for treating AIDS, from Medicorp. Inc. of Montreal.
Under the terms of the agreement, which replaces and expandsthe original 1989 license between the two companies,HemaCare (NASDAQ:HEMA) of Los Angeles has paid Medicorp acash fee and has granted warrants to purchase HemaCarecommon stock. HemaCare's license was originally only forCalifornia.
The patented technology covers the use of any neutralizingantibodies to treat AIDS. In its current format, PHT involvesthe collection of human plasma from healthy HIV-positivedonors. The plasma is sterilized, pooled and infused intopatients with symptomatic AIDS who display impairedimmunocompetence and lack neutralizing antibodies.
HemaCare has been developing and testing PHT since 1990, andholds orphan drug status for the technology. The companyrecently completed a Phase I/II study for PHT in treating AIDS,by which it demonstrated that this treatment is non-toxic andmay improve immune competency and survival. Patientsreceiving PHT in the study cleared HIV from their circulation,generally increased the level of T4 cells in their blood and hadan increase in p24 antibody levels.
HemaCare is waiting for the California State Department ofHealth Services to approve a Phase III extension of its PHTstudy in AIDS patients.
The company's stock (NASDAQ:HEMA) closed unchangedTuesday at $6.25 a share.
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