TORONTO, ONTARIO–(Marketwire – Nov. 7, 2011) – Arch Biopartners Inc (“Arch” or the “Company”)(CNSX:ACH)(OTC:FOIFF) today announced it has engaged Intertek Cantox (“Cantox”) to devise the drug development plan for the Company’s lead compound, GH501a.
The Company recently identified GH501a as a potential treatment for non-small cell lung cancer and pancreatic cancer.
The drug development plan is expected to be complete by the end of 2011 and will focus in detail on the steps that need to be completed by the Company in order to submit an Investigational New Drug (“IND”) application and pursue subsequent human trials.
About Intertek Cantox
Cantox is a leading international scientific and regulatory consultancy firm. The Pharmaceuticals & Healthcare team assists companies with strategic planning during the product development lifecycle, the management of nonclinical safety testing programs to support clinical trials, preparation, review, and compilation of regulatory submissions, and the provision of expert toxicology and regulatory advice.
About Arch Biopartners
Arch Biopartners is a portfolio based biotechnology company that is developing early stage proprietary technology for sale to pharmaceutical and industrial companies.
The Company’s majority owned subsidiary, Colorado Cancer Therapeutics (“CCT”), currently holds an option to enter into an exclusive license with the University of Colorado to commercialize a new class of anti-cancer compounds that includes GH501a.
Together, Arch and CCT have up to January 1, 2012 to exercise the option before proceeding with the confirmation of a candidate compound for an IND filing.
Arch has an option to buyout the remaining 1/3 of CCT it does not already own, effective November 20, 2011 and expiring May 20, 2013.
For more information on the Company, please consult the other public documents filed on SEDAR at www.sedar.com.
The Company’s website address is: www.archbiopartners.com.
Intertek Cantox’s website address is: www.cantox.com
Forward-Looking Statements
All statements, other than statements of historical fact, in this news release are forward looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of the Company. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
The CNSX has not reviewed and does not accept responsibility for the adequacy of this release.
