TORONTO, June 19, 2019 (GLOBE NEWSWIRE) — Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), announced today it has initiated the Phase I human trial for Metablok (“LSALT peptide”), the Company’s lead drug candidate for treating acute kidney injury and other organ damage caused by inflammation.
Recruiting of participants has already begun with dosing of the first volunteer expected by the end of the month. A total of forty-four participants are scheduled to be enrolled in the trial over the next few months.
The Phase I trial, being conducted at the Alfred Hospital in Melbourne, Australia, is a double-blind, placebo-controlled, randomized, single and multiple ascending dose study to evaluate the safety and pharmacokinetic profile of Metablok in healthy participants.
Other Corporate Developments
The Company also announced today that a shareholder of the Company exercised 50,000 warrants expiring in July, 2019 to buy 50,000 common shares of the Company for proceeds of $25,000.
About Arch Biopartners
Arch Biopartners Inc. is focused on the development of innovative technologies that have the potential to make a significant medical or commercial impact. Arch has established a diverse portfolio that includes Metablok, a potential treatment for inflammation, sepsis and cancer metastasis; AB569, a potential new treatment for antibiotic resistant bacterial infections in the lung, urinary tract or wounds; and, ‘Borg’ peptide coatings that increase corrosion resistance and decrease bacterial biofilm on various medical grade metals and plastics.
For more information on Arch Biopartners, its technologies and other public documents Arch has filed on SEDAR, please visit www.archbiopartners.com
The Company has 58,662,302 common shares outstanding.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:Richard MuruveChief Executive OfficerArch Biopartners, Inc. 647-428-7031