Arch Biopartners Obtains DTC Eligibility for its Common Shares on OTCQB
August 21 2020 - 7:00AM
Arch Biopartners Inc. (“Arch” or the “Company”) (TSX Venture: ARCH
and OTCQB: ACHFF) announced it has obtained eligibility with The
Depository Trust Company (DTC) in the United States, increasing
access for U.S. investors for its common shares listed on the
OTCQB.
DTC Eligibility means Arch shares can now be
transferred and settled between brokerage accounts electronically,
enabling the stock to be traded over a wider network of brokerage
firms by coming into compliance with their requirements.
DTC is a subsidiary of the Depository Trust
& Clearing Corp., a company that manages the electronic
clearing and settlement of publicly traded securities in the U.S.
DTC services provide cost benefits for investors and brokers
trading Canadian securities in the United States.
“We expect the DTC Eligibility of our common
shares in the U.S. will improve access for investors and brokerage
houses to trading our shares. We would like to thank Vstock
Transfer for assisting Arch with the DTC application process,” said
Richard Muruve, CEO of Arch Biopartners.
About Arch Biopartners
Arch Biopartners Inc. is a clinical stage
company focused on the development of innovative technologies that
have the potential to make a significant medical or commercial
impact. Arch is developing a pipeline of new drug candidates
that inhibit inflammation in the lungs, liver and kidneys via the
dipeptidase-1 (DPEP-1) pathway for multiple medical
indications.
LSALT peptide (Metablok) is a novel peptide drug
candidate and the lead DPEP-1 inhibitor in the Arch development
pipeline. An upcoming Phase II trial sponsored by Arch will be a
multicenter, randomized, double-blind, placebo-controlled, proof of
concept study of LSALT peptide as prevention of organ inflammation
known to trigger acute respiratory distress syndrome (ARDS) and
acute kidney injury (AKI) in patients infected with SARS-CoV-2
(COVID-19).
In August 2019, a scientific team led by Arch
scientists Dr. Donna Senger and Dr. Stephen Robbins published a
paper in the journal Cell describing a novel mechanism of action
for organ inflammation. In the publication, DPEP-1 was identified
for the first time as a major leukocyte (white blood cell) adhesion
receptor on the lung, liver and kidney endothelium in pre-clinical
models. LSALT differs from typical anti-inflammatory drugs by
targeting this novel adhesion receptor rather than targeting
individual cytokines, of which there are over 30 currently
known.
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 60,782,302 common shares
outstanding.
Forward-Looking Statements
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.
For more information, please contact:
Richard Muruve
Chief Executive Officer
Arch Biopartners, Inc.
647-428-7031
info@archbiopartners.com
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