Since it voluntarily stopped reporting in 2009, MEDS achieved what it set out to do, successfully obtaining FDA clearance to initiate clinical trials for its product in patients with critical limb ischemia (CLI). In addition, MEDS reports that it has treated 18 congestive heart failure (CHF) patients in an ongoing double-blind placebo controlled trial.
The newly filed Form 10 is expected to become effective 60 days from the filing date, at which time the company will return to fully reporting status, allowing liquidity for existing shareholders and providing the company with broader access to public capital markets.
“We believe that having strengthened our intellectual property portfolio, obtaining clinical data from 18 patients treated in our CHF trial, and attaining FDA clearance to begin a CLI trial, has increased our value to the investment community,” MEDS CEO Dr. Alan J. Lewis stated in Monday’s press release. “The filing of the Form 10 represents the next step in our growth, which will position us to attract institutional investment and Wall Street support.”
The company also worked to strengthen its management team with the addition of biopharmaceutical veteran Dr. Lewis, who was appointed as company CEO in October 2012.
Additionally, during the first quarter of this year, John Chiplin and Herm Rosenman were appointed as independent board members.
For more information, visit www.medisteminc.com
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