Arch Biopartners' AB569 Receives Final Approval from European Commission for Orphan Designation for Cystic Fibrosis
TORONTO, ONTARIO--(Marketwired - June 1, 2016) - Arch Biopartners Inc. (Arch, or the Company) (TSX VENTURE:ACH)(OTCBB:FOIFF), a portfolio based biotechnology company, today announced the European Commission has designated AB569 as an orphan medicinal product in the European Union for the treatment of patients with cystic fibrosis (CF).
The orphan medicinal products designation is for the two active ingredients of AB569, sodium nitrite ethylenediaminetetraacetic acid (EDTA). AB569 was developed to treat antibiotic resistant bacterial infections, which is a significant problem in the lungs of most adult CF patients.
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 works closely with the scientific community, universities and research institutions to advance and build the value of select preclinical technologies, develop the most promising intellectual property, and create value for its investors.
Arch has established a diverse portfolio that includes AB569, a potential new treatment for antibiotic resistant bacterial infections; MetaMx, which targets illusive brain tumor initiating cells; and, Metablok, a potential treatment for sepsis and cancer metastasis.
For more information on Arch Biopartners, other public documents Arch has filed on SEDAR and its technologies including, please visit www.archbiopartners.com
The Company has 53,189,679 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.
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