Arch Awarded Funding from the Government of Canada to Develop Brain Tumour Targeting Technology
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.
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.