TORONTO, ONTARIO–(Marketwired – Feb. 25, 2015) – Arch Biopartners Inc (“Arch” or the “Company”) (TSX VENTURE:ACH)(OTCBB:FOIFF) announced today the U.S. Patent and Trademark Office has issued U.S. Patent 8,961,984, titled “Surface Coated Structures and Methods” protecting its peptide-solid surface technology which has been shown to reduce biofilm formation, corrosion and friction on various metals and plastics.
The issuance of this patent gives Arch commercial protection for this novel technology in the most lucrative pharmaceutical and industrial market in the world. Arch anticipates that similar patents will be issued, in due course, in various major national markets that are members of the Patent Cooperation Treaty.
Arch management plans further commercial development of the technology in medical and industrial applications in the coming year.
“This patent issuance further increases the commercial prospects of the Arch technology portfolio. It provides the Company with another opportunity to address one or more unmet medical needs, as well as develop products for the industrial sector. We look forward to developing the opportunities of this technology while at the same time proceeding with the commercial development of our other medical products,” said Richard Muruve, CEO of Arch.
The patent is based on a technology invented by Dr. Randall Irvin, Dr. Elisabeth Davis and Dr. DY Li of the University of Alberta and subsequently assigned to Arch.
About Arch Biopartners
Arch Biopartners is a portfolio based biotechnology company established to develop new products and technology for unmet medical needs. The Company’s lead technology is MetaMx™ which targets brain tumor initiating cells (“BTICs”). Arch also is developing new treatments for Pseudomonas aeruginosa respiratory infections, inflammation based diseases, sepsis and cancer metastasis (Metablok™).
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.