Arch Biopartners Obtains DTC Eligibility for its Common Shares on OTCQB
TORONTO, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Arch Biopartners Inc. (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF) announced it has obtained eligibility with The Depository Trust Company (DTC) in the United States, increasing access for U.S. investors for its common shares listed on the OTCQB.
DTC Eligibility means Arch shares can now be transferred and settled between brokerage accounts electronically, enabling the stock to be traded over a wider network of brokerage firms by coming into compliance with their requirements.
DTC is a subsidiary of the Depository Trust & Clearing Corp., a company that manages the electronic clearing and settlement of publicly traded securities in the U.S. DTC services provide cost benefits for investors and brokers trading Canadian securities in the United States.
“We expect the DTC Eligibility of our common shares in the U.S. will improve access for investors and brokerage houses to trading our shares. We would like to thank Vstock Transfer for assisting Arch with the DTC application process,” said Richard Muruve, CEO of Arch Biopartners.
About Arch Biopartners
Arch Biopartners Inc. is a clinical stage company focused on the development of innovative technologies that have the potential to make a significant medical or commercial impact. Arch is developing a pipeline of new drug candidates that inhibit inflammation in the lungs, liver and kidneys via the dipeptidase-1 (DPEP-1) pathway for multiple medical indications.
LSALT peptide (Metablok) is a novel peptide drug candidate and the lead DPEP-1 inhibitor in the Arch development pipeline. An upcoming Phase II trial sponsored by Arch will be a multicenter, randomized, double-blind, placebo-controlled, proof of concept study of LSALT peptide as prevention of organ inflammation known to trigger acute respiratory distress syndrome (ARDS) and acute kidney injury (AKI) in patients infected with SARS-CoV-2 (COVID-19).
In August 2019, a scientific team led by Arch scientists Dr. Donna Senger and Dr. Stephen Robbins published a paper in the journal Cell describing a novel mechanism of action for organ inflammation. In the publication, DPEP-1 was identified for the first time as a major leukocyte (white blood cell) adhesion receptor on the lung, liver and kidney endothelium in pre-clinical models. LSALT differs from typical anti-inflammatory drugs by targeting this novel adhesion receptor rather than targeting individual cytokines, of which there are over 30 currently known.
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 60,782,302 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