CAMBRIDGE, MA--(Marketwired - July 30, 2013) - Arch Therapeutics, Inc. (OTCQB: ARTH) ("Arch" or the "Company"), a life science company and developer of AC5™, a novel product aimed at controlling bleeding and fluid loss in order to provide faster and safer surgical and interventional care, is pleased to provide a summary of current events.
Arch Therapeutics is developing products that make surgery and interventional care faster and safer by utilizing a novel approach to stop bleeding (referenced as "hemostasis"), control leaking (referenced as "sealant"), and provide other advantages during surgery and trauma care. AC5™ is based on a self-assembling peptide solution that creates a physical, mechanical barrier, which could be applied to bleeding organs or wounds to seal leaking blood and other fluids.
To date, we have devoted much of the work on our core technology to selecting the lead product composition, conducting initial safety and efficacy tests, developing reproducible and reliable analytical and manufacturing methods, and scale-up. We have also focused on developing relevant intellectual property rights via filing several patent applications in multiple jurisdictions for self-assembling peptides and methods of use thereof, all of which are pending. Much of this pre-clinical work is a necessary pre-requisite to the clinical-regulatory program, which we are currently designing.
The results of early data from preclinical tests have shown that AC5™ achieves hemostasis quickly and effectively. AC5™ can be directly applied as a liquid or sprayed, making it user-friendly and able to conform to irregular wound geometry, and is not sticky or glue-like, making it ideal for use in the setting of minimally invasive laparoscopic surgeries. Further, AC5™ is transparent, which should make it easier for surgeons or other healthcare providers to maintain a clear field of vision during a surgical procedure and prophylactically stop bleeding as it starts, which we call Crystal Clear Surgery™.
Preclinical testing to date has been conducted in a number of settings. One of the co-founders of our technology, Dr. Rutledge Ellis-Behnke, performed a significant portion of the preclinical experimentation at major academic institutions in Massachusetts (2001-2005) and Hong Kong (2004-2009). Some of the most significant findings from Dr. Ellis-Behnke's studies have been published. Importantly, we have further engaged both academic and private third party facilities in the United States, including in Massachusetts, and in Europe, including a successful collaboration with several parties at the National University of Ireland and the Royal College of Surgeons in Ireland, in order to further advance the technology to its current state.
Company CEO, Dr. Terrence Norchi comments, "In the preclinical tests conducted to date, AC5™ has demonstrated improved average time to hemostasis ('TTH') during a range of surgical procedures compared to TTH when using a control substance, a saline control substance, a control peptide, and a cautery control substance during those same procedures. The results of those tests have shown a TTH of under 15 seconds when AC5™ was applied, compared to a TTH ranging from 80 to 300 seconds when various control substances were applied, depending on the nature of the control substance and procedure performed. To date, we have noted no ill effects or other adverse consequences. We believe that the peptide degrades into the naturally occurring amino acids from which it was originally synthesized, which are molecules that already exist in large quantities in the body. Our plans in the near-term are to focus our efforts on the development of AC5™ by pursuing additional preclinical studies and preparing for future clinical trials."
Additional details regarding Arch Therapeutics, Inc., its business, agreements and related matters are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission ("SEC"), and are available at the SEC's website at www.sec.gov. For more information, visit our website at www.archtherapeutics.com.
About Arch Therapeutics, Inc. (OTCQB: ARTH)
Arch Therapeutics, Inc. (OTCQB: ARTH) is a medical device company developing a novel approach to stop bleeding (hemostasis) and control leaking (sealant) during surgery and trauma care. Arch's goal is to develop and commercialize products based on our innovative technology platform that make surgery and interventional care faster and safer for patients. Arch's flagship development stage product candidate known as AC5™ is being designed to elegantly achieve hemostasis in minimally invasive and open surgical procedures. Find out more at www.archtherapeutics.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, references to novel technologies and methods, our business and product development plans and projections, or market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies and operating as a development stage company, our ability to retain important members of our management team and attract other qualified personnel, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, our ability to develop and commercialize products based on our technology platform, and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
On Behalf of the Board,
Terrence W. Norchi, MD.
Arch Therapeutics, Inc.