Medical Device Biz Arch Therapeutics Brings in $7.3 Million Round
7/10/2013 9:23:48 AM
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Arch Therapeutics Inc., a medical device startup which has developed a product to stop bleeding, has secured $7.3 million in funding, according to a recent filing with the U.S. Securities and Exchange Commission. Listing as directors in the filing are Arthur Rosenthal, former CSO at Boston Scientific; Dr. Terrance Norchi, CEO and Co-founder of Arch; and Avtar Dhillon, chairman of Arch and chairman of Inovio Pharmaceuticals Inc. Alan Barber, CFO, is also listed in the filing. The Cambridge, Mass.-based company has developed AC5, a synthetic peptide that has naturally occurring amino acids. When it is applied onto a wound, the product fills the areas of the connective tissue and then provides a barrier to leaking substances including blood and other bodily fluids.
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