TORONTO, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Today, Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), a clinical stage company focused on the development of innovative technologies and novel therapeutics targeting organ inflammation, welcomed Mr. Farris Smith of Novo Nordisk Canada Inc as a Strategic Advisor for general corporate activity and business development of the Company’s drug candidates.
Mr. Farris Smith started his career with AP Moller in 2001 and joined Novo Nordisk in 2003 as head of Finance and Human Resources for the Arabian Gulf countries and has since held finance and operations positions of growing size and complexity throughout the global Novo Nordisk organization. From 2010 to 2012, Farris led the Finance and Business Development organization for Region Latin America and in 2013 moved to France as CFO for France and BeLux. In 2016, he transitioned to his current role as CFO for Novo Nordisk’s Canadian business and has supported the organization through a period of significant development. In 2022, Farris was recognized as Finance Manager of the year, an award that recognizes excellence in leadership across all of Novo Nordisk. Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark.
“Arch Biopartners has demonstrated an ability and commitment to bring forward innovative drug candidates,” said Farris Smith. “I am excited to work with this dedicated and talented team to realize its goals and offer improved treatments to people in need.”
“On behalf of the Arch team, we are looking forward to working with Farris to help guide Arch as the Company grows in pursuit of drug approval and commercial opportunities,” 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 Biopartners is developing a pipeline of new drug candidates that inhibit inflammation in the lungs, liver, and kidneys via the dipeptidase-1 (DPEP-1) pathway, relevant for multiple medical indications.
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 62,330,292 common shares outstanding.
For more information, please contact:
Chief Executive Officer
Arch Biopartners Inc.
1 647 428 7031
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This press release contains forward-looking statements and forward-looking information, or, collectively, forward-looking statements, within the meaning of applicable securities laws, that are based on Arch Biopartners’ management’s beliefs and assumptions and on information currently available to Arch Biopartners’ management. All statements, other than statements of historical fact, in this news release are considered 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. One can identify forward-looking statements by terms such as "may", "will", "should", "could", “would”, "outlook", "believe", "plan", "anticipate", "expect" and "estimate", or the negatives of these terms, or variations of them. The forward-looking statements contained in this press release include, but are not limited to, statements regarding the potential efficacy and safety of LSALT Peptide (LSALT) in patients who have inflammation of the lungs and other organs such as the liver and kidneys; the ongoing clinical development of LSALT in future human trials and other indications outside of COVID-19 patients.
Forward-looking statements are subject to a variety of risks and uncertainties, many of which are beyond our control that could cause our actual results to differ materially from those that are disclosed in or implied by the forward-looking statements contained in this press release. These risks and uncertainties include, among others, the risk that results (whether safety or efficacy, or both) obtained through the administration of LSALT in humans will not be similar to those obtained in pre-clinical studies or in the previously completed Phase I and Phase II trials; or, that serious adverse effects resulting from the administration of LSALT are discovered leading to a suspension or cancellation of any development work using LSALT; and, the risk that new organ inflammation treatments are discovered or introduced by competitors which may prove safer and/or more effective than LSALT.
We refer potential investors to the "Risk Factors" section of our annual Management and Discussion and Analysis dated January 28, 2022 available on SEDAR at www.sedar.com and on our website at www.archbiopartners.com for additional risks regarding the conduct of Arch Biopartners’ business and enterprise in general. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward-looking statements. Forward-looking statements reflect current expectations regarding future events and speak only as of the date of this press release and represent management’s expectations as of that date.
Arch Biopartners’ management undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as may be required by applicable law.
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