IMAC Holdings, Inc. Announces Initiation of Second Cohort of its Phase 1 Clinical Study of Umbilical Cord-Derived Mesenchymal...
July 13 2021 - 9:00AM
IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or “the
Company”), today announces it has initiated the second cohort of
its Phase 1 clinical trial for its investigational compound
utilizing umbilical cord-derived allogenic mesenchymal stem cells
for the treatment of bradykinesia due to Parkinson’s disease.
About IMAC’s Phase 1 Clinical
Trial
The Phase 1 clinical trial, consisting of a
15-patient dose escalation safety and tolerability study, is being
conducted at IMAC Regeneration Centers in Chesterfield,
Missouri, Paducah, Kentucky, and Brentwood, Tennessee.
The trial is divided into three groups: 1) five patients with
bradykinesia due to Parkinson’s disease received a low dose,
intravenous infusion of stem cells which was completed February 26,
2) five patients will receive a medium dose intravenous infusion,
3) and five patients will receive a high dose intravenous infusion.
IMAC’s medical doctors and physical therapists at the clinical
sites have been trained to administer the treatment and manage the
therapy. Ricardo Knight, M.D., M.B.A., who is medical director
of the Mike Ditka IMAC Regeneration Center, is the trial’s
principal investigator.
About Bradykinesia Due to Parkinson’s
Disease
In addition to unusually slow movements and
reflexes, bradykinesia may lead to limited ability to lift arms and
legs, reduced facial expressions, rigid muscle tone, a shuffling
walk, and difficulty with repetitive motion tasks, self-care, and
daily activities. Parkinson’s disease is the typical culprit of
bradykinesia, and as it progresses through its stages, a person’s
ability to move and respond declines.
According to Zion Market Research, the
global Parkinson’s disease therapeutics market was $2.61
billion in 2018 and is expected to grow to $5.28
billion by 2025. The Parkinson’s Disease
Foundation estimates that nearly 10 million people are
suffering from Parkinson’s disease, and almost 60,000 new cases are
reported annually in the U.S.
About IMAC Holdings,
Inc.
IMAC was created in March 2015 to
expand on the footprint of the original IMAC Regeneration Center,
which opened in Kentucky in August 2000. IMAC
Regeneration Centers combine life science advancements with
traditional medical care for movement restricting diseases and
conditions. IMAC owns or manages over 15 outpatient
medical clinics that provide regenerative, orthopedic and minimally
invasive procedures and therapies. It has partnered with several
active and former professional athletes including Ozzie Smith,
David Price, Mike Ditka and Tony Delk to emphasize its focus
treating sports and orthopedic injuries and movement-restricting
diseases without surgery or opioids. IMAC also operates the
BackSpace retail spine health and wellness treatment centers. More
information about IMAC Holdings, Inc. is available
at www.imacholdings.com.
# # #
Safe Harbor Statement
This press release contains forward-looking
statements. These forward-looking statements, and terms such as
“anticipate,” “expect,” “believe,” “may,” “will,” “should” or other
comparable terms, are based largely
on IMAC's expectations and are subject to a number of
risks and uncertainties, certain of which are
beyond IMAC's control. Actual results could differ
materially from these forward-looking statements as a result of,
among other factors, risks and uncertainties associated with its
ability to raise additional funding, its ability to maintain and
grow its business, variability of operating results, its ability to
maintain and enhance its brand, its development and introduction of
new products and services, the successful integration of acquired
companies, technologies and assets, marketing and other business
development initiatives, competition in the industry, general
government regulation, economic conditions, dependence on key
personnel, the ability to attract, hire and retain personnel who
possess the skills and experience necessary to meet customers’
requirements, and its ability to protect its intellectual
property. IMAC encourages you to review other factors
that may affect its future results in its registration statement
and in its other filings with the Securities and Exchange
Commission. In light of these risks and uncertainties, there can be
no assurance that the forward-looking information contained in this
press release will in fact occur.
IMAC Press Contact:Laura Fristoelfristoe@imacrc.com
Investor Relations:Bret Shapiro(516)
222-2560brets@coreir.com
IMAC (NASDAQ:IMAC)
Historical Stock Chart
From Aug 2024 to Sep 2024
IMAC (NASDAQ:IMAC)
Historical Stock Chart
From Sep 2023 to Sep 2024