Arch Therapeutics Announces Appointment of Larry Hicks to the Board
Arch Therapeutics has appointed Larry Hicks to its Board of Directors, bringing over 30 years of experience in the medical device industry. Hicks, currently the CEO of Healthcare Components Group, has held leadership roles at several notable companies. CEO Terrence W. Norchi expressed confidence in Hicks' ability to drive sales and enhance the company's commercialization efforts. Arch Therapeutics develops innovative wound care and biosurgical devices, including the AC5® Advanced Wound System, which has received regulatory approval in the U.S. and Europe.
- Appointment of Larry Hicks expected to strengthen Arch's board with extensive industry experience.
- Hicks' background in commercialization may enhance sales efforts and create shareholder value.
- Concerns about continuity and experience gaps due to management changes.
Brings deep industry experience to support commercialization plan
FRAMINGHAM, Mass., Sept. 30, 2021 (GLOBE NEWSWIRE) -- Arch Therapeutics, Inc. (OTCQB: ARTH) (“Arch” or the “Company”), a marketer and developer of novel self-assembling wound care and biosurgical devices, today announced the appointment of Larry Hicks to its Board of Directors.
Mr. Hicks has over 30 years of medical device experience with an established track record of success in commercialization, operations and creating shareholder value. Mr. Hicks is currently the CEO of Healthcare Components Group, a global manufacturer of OEM and replacement parts used for the manufacture and repair of medical devices. He has held medical device leadership roles at ACMI, Karl Storz Endoscopy and NeuroTherm.
Terrence W. Norchi, M.D., Chief Executive Officer of Arch Therapeutics, stated, “I am delighted that Larry has joined the Board at Arch. He has an unusual breadth and depth of experience in areas of particular importance to us. I am confident that his proven capabilities to drive sales, coupled with his passion for the Company’s purpose, will prove invaluable to Arch as we continue to execute our commercialization plan.”
Mr. Hicks commented, “Arch Therapeutics’ technology has the potential to dramatically improve outcomes for millions of patients, and I am honored to have the opportunity to contribute to their growth as a member of the Board. I am confident that Arch will achieve great success.”
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 has received regulatory authorization to market AC5® Advanced Wound System and AC5 Topical Hemostat as medical devices in the United States and Europe, respectively. Arch's development stage product candidates include AC5-G, AC5-V and AC5 Surgical Hemostat, among others.1,2
1 AC5-G, AC5-V, and AC5 Surgical Hemostat are currently investigational devices limited by law to investigational use.
2 AC5, AC5-G, AC5-V and associated logos are trademarks and/or registered trademarks of Arch Therapeutics, Inc. and/or its subsidiaries.
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 ability to recruit additional field sales representatives and their effectiveness, 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 obtain the inclusion of our AC5® Advanced Wound System on targeted federal supply schedules, our ability to develop and commercialize products based on our technology platform, and market conditions, and our ability to establish additional commercialization partnerships and build a critical mass of field sales representatives. 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.
Contact:
ARTH Investor Relations
Toll Free: +1-855-340-ARTH (2784) (US and Canada)
Email: investors@archtherapeutics.com
Website: www.archtherapeutics.com
or
Michael Abrams
Chief Financial Officer
Arch Therapeutics, Inc.
Phone: 617-431-2333
Email: mabrams@archtherapeutics.com
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