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Arch Biopartners Receives Government of Canada Funding to Support Phase II Therapeutic Trial of Metablok for COVID-19

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The funding will help support Arch’s Phase II development of Metablok™ (LSALT Peptide), its therapeutic drug candidate to prevent organ inflammation and injury in patients.

Additional Information:

Company: Arch Biopartners
Website: http://www.ArchBiopartners.com
Stock Symbol: TSXV: ARCH
Date Published: Dec 16, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Arch Biopartners, a clinical stage company developing new drug candidates for treating organ damage caused by inflammation, has been awarded a contribution of up to $6.7 million from the Government of Canada.

The funding comes from the department of Innovation, Science and Economic Development through the Strategic Innovation Fund, part of the Government’s Plan to Mobilize Science to fight COVID-19.

The funding will help support Arch’s Phase II development of Metablok™ (LSALT Peptide), its therapeutic drug candidate to prevent organ inflammation and injury in patients.

The current Phase II trial is targeting the prevention of acute lung injury, acute kidney injury and other complications caused by inflammation in hospitalized patients with moderate to severe cases of COVID-19.

The Phase II trial is currently underway in the United States and Turkey with ongoing patient recruitment in five hospital sites.

Arch has received Health Canada approval and is preparing to begin dosing patients in Canada.

The Honourable Navdeep Bains, Minister of Innovation, Science and Industry, stated: “As the world works towards an effective COVID-19 vaccine, we cannot lose sight of the importance of developing treatments to keep those stricken with the virus alive. Today’s contribution will support Arch Biopartners as they take their promising treatment through clinical trials and subsequent approvals. Once approved, this drug has the potential to be an important tool to save lives, improve long-term health and reduce the strain on Canada’s medical system. Investments like these not only help protect and support Canadians through this pandemic, but also help lay the foundation for a better-prepared, healthier, and more prosperous future.”

The contribution from SIF will also help Arch advance studies for optimal dosage, perform the chemistry, manufacturing and controls of the drug to support its approval as a COVID-19 treatment, and ultimately prepare for a Phase III trial, which will include greater patient numbers to more fully evaluate the drug’s efficacy and safety in COVID-19 patients.

Richard Muruve, CEO, Arch Biopartners, added: “This contribution from SIF (Strategic Innovation Fund) will help accelerate our drug program focused on preventing inflammation in the lungs, kidneys and liver. Organ inflammation represents an unmet need in the medical world and is also a predictor of critical illness and mortality in COVID-19. A new medical treatment to block acute organ inflammation is urgently needed to improve patient outcomes and improve mortality rates. We look forward to working with the Government of Canada to develop a new drug treatment to improve the current standard of care for hospitalized COVID patients.”

Severe complications from COVID-19 are in large part due to excessive host immune responses to the virus that result in progressive lung inflammation and acute respiratory distress syndrome that often requires mechanical ventilation and critical care.

Patients with severe COVID-19 also experience multiple organ dysfunction including acute kidney injury, liver dysfunction, cardiac failure, and blood abnormalities.

Currently, no effective antiviral drug or specific treatment exists for SARS-CoV-2 infection.

In addition to Metablok™, Arch 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.

The shares are trading at $1.68, with only 60.8 million shares outstanding.

For more information, please visit the company’s website www.ArchBiopartners.com, contact Richard Muruve, CEO, at 647-428-7031 or email info@ArchBiopartners.com.

I’m Megan Edwards for Investmentpitch Media