Arch Therapeutics Appoints Healthcare Industry Executive Punit Dhillon to Board of Directors
July 20 2018 - 7:30AM
Arch Therapeutics, Inc. (OTCQB:ARTH) (“Arch” or the “Company”),
developer of the AC5 Surgical Hemostatic Device™ (“AC5™”), today
announced the appointment of Punit Dhillon, former President &
CEO of OncoSec Medical, Inc. (NASDAQ:ONCS), to its Board of
Directors (the “Board”) as an independent member effective as of
July 19, 2018. Mr. Dhillon brings over 15 years of global industry
experience to Arch’s Board with a wealth of knowledge and
experience operationally in medical devices, advancing programs
from scientific research through clinical development, regulatory
approval, and into healthcare systems globally. Mr. Dhillon is
experienced and skilled in capital markets and in establishing
strategic partnerships, including early and late stage deals with
Merck and Pfizer.
Mr. Dhillon co-founded OncoSec, a biotechnology company
pioneering new technologies to stimulate the body’s immune system
to target and attack cancer. Prior to that, Mr. Dhillon served as
Vice President of Finance and Operations at Inovio Pharmaceuticals,
Inc. (formerly Inovio Biomedical Corporation), a DNA vaccine
development company, from September 2003 until March 2011.
Mr. Dhillon is also currently a director for Emerald Health
Sciences, Inc. and Audit Committee Chair of Emerald Health
Therapeutics, Inc. (TSXV:EMH) and Nemus Bioscience, Inc.
(OTCQB:NMUS).
Mr. Dhillon said, “Having led or supported numerous companies in
the healthcare industry in North America and Europe, I understand
the importance of technological innovation to advancing the state
of care across a range of therapeutic areas. I am convinced that
the technology being developed by Arch holds the potential to
improve an impressive array of surgical procedures and fulfill many
poorly met needs. I look forward to working with the Board as Arch
continues its development path through clinical studies with the
goal of commercializing its products.”
Dr. Terrence Norchi, added, “Punit Dhillon brings a tremendous
amount of industry experience to Arch, and we intend to draw
heavily on his insights and professional talents. His executive
leadership with public companies contributes to his exceptional
qualifications. Punit will provide valuable advice and support as
we contemplate potential commercial partnership opportunities.”
Mr. Dhillon will be filling the position formerly held by Avtar
Dhillon, MD (“Dr. Dhillon”), the Chairman of Arch’s Board.
Dr. Dhillon submitted his resignation from the Board on July 17,
2018, which became effective on July 19, 2018, but will continue to
serve as an advisor to the Company. Dr. Norchi will succeed Dr.
Dhillon as the Chairman of the Board in addition to his role as
President & CEO. “Dr. Dhillon has been and continues to
be a committed resource and advisor to me and to the Company,” said
Terrence W. Norchi, MD, President, CEO and Chairman of Arch
Therapeutics, Inc. “I am thankful and appreciative of the
leadership and counsel of Avtar and look forward to his continuing
support as we move our technology and products forward. I know that
he will remain as accessible and helpful as always. We look forward
to continuing work with the Board, our advisors and the rest of our
team in the drive to building value.”
Mr. Dhillon is the nephew of Dr. Dhillon, and is also a member
of the board of directors of OncoSec Medical Inc. and Emerald
Health Sciences, Inc, both of which are companies for which Dr.
Dhillon is the chairman of the board.
About Arch Therapeutics, Inc.
Arch Therapeutics, Inc. is a biotechnology company developing a
novel approach to stop bleeding (hemostasis), control leaking
(sealant) and manage wounds during surgery, trauma and
interventional care. Arch is developing products based on an
innovative self-assembling barrier technology platform with the
goal of making care faster and safer for patients. Arch's
development stage product candidates include the AC5™ Topical Gel
and the AC5™ Surgical Hemostatic Device.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements” as that
term is defined in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements in this press release that are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Such forward-looking statements include,
among other things, references to novel technologies and methods,
our business and product development plans and projections, or
market information. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. Such factors include, among others, the inherent
uncertainties associated with developing new products or
technologies and operating as a development stage company, our
ability to retain important members of our management team and
attract other qualified personnel, our ability to raise the
additional funding we will need to continue to pursue our business
and product development plans, our ability to obtain required
regulatory approvals, our ability to produce commercial quantities
of our products within projected timeframes, our ability to develop
and commercialize products based on our technology platform, and
market conditions. These forward-looking statements are made as of
the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be accurate.
Investors should consult all of the information set forth herein
and should also refer to the risk factors disclosure outlined in
the reports and other documents we file with the SEC, available at
www.sec.gov.
Source: Arch Therapeutics, Inc.
ContactARTH Investor RelationsToll Free:
+1-855-340-ARTH (2784) (US and Canada)Email:
investors@archtherapeutics.com Website: www.archtherapeutics.comor
Richard DavisChief Financial OfficerArch Therapeutics, Inc.Phone:
617-431-2308Email: rdavis@archtherapeutics.comWebsite:
www.archtherapeutics.com
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