Arch Awarded Funding from the Government of Canada to Develop Brain Tumour Targeting Technology
March 15 2012 - 11:12AM
Marketwired
Arch Biopartners Inc. ("Arch" or the "Company")
(CNSX:ACH)(OTCBB:FOIFF) today announced that the National Research
Council of Canada - Industrial Research Assistance Program
(NRC-IRAP) has approved funding up to $107,000 to assist Arch in
the development of diagnostic imaging applications for its brain
tumour initiating cell ("BTIC") targeting technology.
Arch Cancer Therapeutics (ACT), a subsidiary of the Company, is
currently working with NRC-IRAP to develop prototype BTIC
diagnostic imaging agents for use in magnetic resonance imaging
("MRI").
It is anticipated that this assistance from NRC-IRAP will allow
Arch to complete prototype development of its BTIC-targeting
technology for use in MRI within the next 12 months.
BTICs are a cancer stem cell population that represent a
significant disease reservoir believed to play an important role in
the formation and recurrence of malignant glioma in humans. BTICs
are not detected by current medical diagnostic imaging
technologies.
About Arch Cancer Therapeutics
ACT is an Alberta corporation wholly owned by Arch Biopartners.
ACT's objective is to develop non-invasive diagnostic and
therapeutic molecules for brain cancer. These molecules are
specialized peptides proprietary to ACT that identify and target
brain tumor initiating cells ("BTIC") and invasive brain cancer
cells that are not normally seen using current state of the art
diagnostic imaging techniques.
About Arch Biopartners
Arch Biopartners is a portfolio based biotechnology company
established to develop new products and technology for sale to
pharmaceutical and industrial companies.
For more information on the Company, please consult the other
public documents filed on SEDAR at www.sedar.com.
The Company's website address is: www.archbiopartners.com.
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.
The CNSX has not reviewed and does not accept responsibility for
the adequacy of this release.
Contacts: Arch Biopartners Inc. Richard Muruve CEO (647) 428
7031info@archbiopartners.com www.archbiopartners.com