Arch Biopartners Awarded NRC-IRAP Funding to Further Develop Metablok Drug Program
TORONTO, Feb. 07, 2019 (GLOBE NEWSWIRE) -- Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), today announced that the National Research Council – Industrial Research Assistance Program (“NRC-IRAP”) has approved funding totaling $200,000 for Arch scientists to further develop the Metablok (LSALT peptide) program. Metablok is the Company’s lead drug candidate for treating acute kidney injury and other organs damaged by inflammation.
TORONTO, Jan. 24, 2019 (GLOBE NEWSWIRE) -- Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), announced it has arranged a non-brokered, unsecured convertible note (“Note”) financing for gross proceeds of CAD $500,000 (the “Offering”).
The Note matures on January 24, 2022 and will be convertible, at the option of the holder, into common shares in the capital of the Company (“Common Shares”) at a price per Common Share of $1.27, in the thirty-day period prior to the maturity of the Note.
Arch Biopartners Forms New Subsidiary to Pursue a Phase I Trial in Australia for Metablok (LSALT Peptide)
TORONTO, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Arch Biopartners Inc., (Arch or the Company) (TSX Venture: ARCH and OTCQB: ACHFF) today announced it has formed a 100% owned subsidiary in Australia, named Arch Clinical Pty Ltd, to pursue an application to perform a phase I safety trial in Australia for Metablok, the Company’s lead drug candidate for treating acute kidney injury.
The Arch team has started the human trial application process with the Alfred Health Human Research Ethics Committee (HREC). The draft application was accepted for registration on December 10, 2018 and will be followed by the full submission and review in early January 2019. A decision regarding trial approval is expected before February 2019.
The Phase I study will be a double-blind, placebo-controlled, randomized, single and multiple ascending dose study to evaluate the safety and pharmacokinetic profile of Metablok (LSALT Peptide) in healthy participants. A successful Phase I trial will be followed by a Phase II trial to investigate Metablok’s efficacy in the prevention of acute kidney injury in cardiac surgery patients.