Arch Therapeutics Negotiating a Collaboration Agreement With CURAM Centre for Research in Medical Devices - Seite 2

Dr. Norchi further noted, "We believe that building a larger R&D footprint in Ireland is a positive step forward. Arch will continue to work with key industry partners en route to commercializing its first product. The planned partnership with and anticipated financial commitment by CÚRAM would provide us with an opportunity to re-allocate resources and timing of activities in a manner that is enhanced by the additional available capital and personnel. Arch intends to launch its first commercial product in Europe next year, pending successful completion of the required clinical trial and receipt of regulatory approval. We look forward to providing updates in the near future."

Dr. Abhay Pandit, Director of CÚRAM, said, "CÚRAM has come along at a pivotal time in the development of the medical device industry in Ireland and Europe, as there are large markets with unmet clinical needs. CÚRAM aims to invigorate the technology that exists. Our significant collaboration with industry partners is very exciting. Arch Therapeutics represents a highly valued partner. We look forward to providing our expertise and grant resources to Arch's R&D program as they move nearer to launching their first product in Europe. The capital, which will be delivered to CÚRAM by Science Foundation Ireland, is provided by The Department of Jobs, Enterprise, and Innovation. We are grateful to these two institutions for their support."

The announcement by the Irish Government's Department of Jobs, Enterprise, and Innovation may be found here: http://www.djei.ie/press/2014/20141020a.htm.

The announcement by NUIG may be found here: http://www.nuigalway.ie/about-us/news-and-events/news-archive/2014/october2014/nui-galway-centre-stage-in-245-million-investment-announcement--by-minister-bruton-and-minister-english.html

About Arch Therapeutics, Inc.

Arch Therapeutics, Inc. is a medical device company developing a novel approach to stop bleeding (hemostasis) and control leaking (sealant) during surgery and trauma care. Arch is developing products based on an innovative self-assembling peptide technology platform to make surgery and interventional care faster and safer for patients. Arch's flagship development stage product candidate, known as the AC5 Surgical Hemostatic Device ™, is being designed to achieve hemostasis in minimally invasive and open surgical procedures.