UPDATE - Arch Biopartners Receives Approval to Perform Phase I Clinical Trial for Metablok in Australia
TORONTO, March 19, 2019 (GLOBE NEWSWIRE) -- Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), today announced that it has been granted approval by the Alfred Hospital Ethics Committee to perform a Phase I clinical trial for Metablok, the Company’s lead drug candidate for treating acute kidney injury and other organ damage caused by inflammation.
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 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.
Results from the Phase I trial are expected later this year and Arch will provide updates as the trial gets underway near-term at the Alfred Hospital in Melbourne, Australia.
About Metablok (LSALT peptide)
Metablok (renamed “LSALT peptide” in Arch communications with the U.S. FDA) is a novel peptide drug candidate in the Arch development pipeline and a potential treatment for the following highly problematic indications: (i) inflammation, (ii) sepsis and (iii) cancer metastasis.
Cardiac Surgery-Associated Acute Kidney Injury
Acute kidney injury (AKI) represents an additional challenge for patients recovering from cardiac surgery. AKI occurs in approximately 30% of patients that undergo cardiac bypass surgery with 2-5% of patients requiring dialysis. For patients who recover from the need for dialysis or mild AKI, there is a greater likelihood they will develop chronic kidney disease in future than those who did not have AKI.
Currently, no specific therapies exist to prevent AKI. Worldwide, there are over one million patients per year that have cardiac surgery procedures.
Inflammation is known to contribute to AKI related to ischemia-reperfusion and other insults to the kidney that may occur in the course of cardiac surgery. Metablok is a novel therapeutic agent that may protect the kidneys and prevent AKI in patients undergoing cardiac surgery.
Other Corporate Developments
The Company also announced today that a certain director and officer of the Company exercised 130,000 stock options expiring in October, 2019 to buy 130,000 common shares of the Company for proceeds of $39,000.
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 has established a diverse portfolio that includes Metablok, a potential treatment for inflammation, sepsis and cancer metastasis; AB569, a potential new treatment for antibiotic resistant bacterial infections in the lung, urinary tract or wounds; and, ‘Borg’ peptide coatings that increase corrosion resistance and decrease bacterial biofilm on various medical grade metals and plastics.
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 58,662,302 common shares outstanding.
For more information, please contact:
Richard Muruve Chief Executive Officer Arch Biopartners, Inc. 647-428-7031
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.