TORONTO, ONTARIO–(Marketwire – Sept. 7, 2011) – Arch Biopartners Inc (“Arch” or the “Company”) (CNSX:ACH)(OTC:FOIFF) today announced it has identified a lead compound, named GH501a, for further development as potential treatment for non small cell lung cancer and pancreatic cancer.
The selection of GH501a was based upon positive results from pre-clinical testing at University of Colorado, Emory University, and recent confirmatory results by scientists at the University of Calgary and the National Cancer Institute (“NCI”). This testing included both in vitro and in vivo studies in mice, including efficacy against the NCI 60 panel of cancer cell lines.
Both non small cell lung cancer and pancreatic cancer are particularly aggressive and deadly forms of cancer. Patients with advanced non-small cell lung cancer face few therapeutic options and have 5-year survival rate of less than 25%. Similarly, the average median survival of all patients with pancreatic cancer is approximately 12 months.
GH501a was invented at the University of Colorado by Drs. Lajos Gera, Robert Hodges, Paul Bunn, and Dan Chan.
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 Investigational New Drug (IND) filing.
Additionally, the Company announced it has named Dr. Daniel Muruve as Chief Science Officer. Dr. Muruve is a Professor of Medicine at the University of Calgary. He is an AHFMR Clinical Senior Scholar and holds a Canada Research Chair.
Colorado Cancer Therapeutics was formed to acquire and develop anti-cancer compounds. Currently, Arch owns two thirds of the equity of CCT, with the remainder owned by Dr. Gera and Dr. Hodges. Arch has an option to buyout the remainder of CCT it does not already own, effective November 20, 2011 and expiring May 20, 2013.
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.
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.
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.