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August 02, 2015 12:35 PM ET

Healthcare Equipment and Supplies

Company Overview of Arch Therapeutics, Inc.

Company Overview

Arch Therapeutics, Inc. operates as a life science medical device company. The company focuses on developing products by utilizing a novel approach to stop bleeding and control leaking during surgery and trauma care. Its lead product candidate includes AC5 Surgical Hemostatic Device, a biocompatible synthetic peptide, which comprises naturally occurring amino acids to achieve hemostasis in minimally invasive and open surgical procedures. The company was founded in 2006 and is headquartered in Wellesley, Massachusetts.

20 William Street

Suite 270

Wellesley, MA 02481

United States

Founded in 2006

5 Employees

Phone:

617-431-2313

Key Executives for Arch Therapeutics, Inc.

Co-Founder, Chief Executive Officer, President and Director
Age: 50
Total Annual Compensation: $390.8K
Chief Financial Officer and Treasurer
Age: 57
Total Annual Compensation: $87.2K
Compensation as of Fiscal Year 2014.

Arch Therapeutics, Inc. Key Developments

Arch Therapeutics, Inc. Announces Retirement of William M. Cotter as Chief Operating Officer

On June 11, 2015, William M. Cotter informed Arch Therapeutics, Inc. of his desire to retire and resign from his role as the Chief Operating Officer of the company. On June 15, 2015, the company and Mr. Cotter entered into a Separation Agreement pursuant to which Mr. Cotter resigned as an employee and as the company's COO, agreed to the termination of that certain Executive Employment Agreement by and between the company and Mr. Cotter effective as of July 2, 2013 and as amended effective March 13, 2014, and agreed to provide certain advisory services to the company.

Arch Therapeutics, Inc. Obtains Data from Preclinical Toxicity Test for AC5™

Arch Therapeutics, Inc. obtained data from a preclinical toxicity test for AC5™ that show the device was well-tolerated and classified as 'not toxic' in a standardized test of systemic toxicity. The systemic toxicity animal test is a major component of the biocompatibility test panel that a medical device must typically complete successfully prior to use in humans. Testing was conducted under the guidelines provided by the International Organization for Standardization’s (ISO) and the study also complied with Good Laboratory Practice (GLP), a Federal regulation (21 CFR part 58) governing the conduct of nonclinical laboratory studies that support or are intended to support applications for research or marketing permits for products regulated by the Food and Drug Administration (FDA). AC5 is a development-stage hemostasis product being evaluated to control bleeding and fluid loss in order to provide faster and better surgical and interventional care.

Arch Therapeutics Launches Research and Development Collaboration with CURAM Centre

Arch Therapeutics executed a collaboration agreement with CURAM Centre for Research in Medical Devices. As part of the collaboration agreement, Arch and CURAM intend to deploy resources in Ireland to advance Arch's technology, ranging from early stage research to late stage development. Under Arch oversight and guidance, personnel from Arch and CURAM will work closely together on diverse pipeline projects, including new potential indications and products as well as human clinical trial planning.

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