Arch Therapeutics Announces Formation of Medical Advisory Board to Advance Commercialization of AC5® Advanced Wound System
Arch Therapeutics (OTCQB: ARTH) has formed a Medical Advisory Board of prominent wound care specialists to enhance the commercialization of its AC5® Advanced Wound System. The board consists of six esteemed members, including Dr. Gregory Bohn and Dr. Matthew Garoufalis, who bring valuable expertise in various medical fields. The CEO, Terrence W. Norchi, expressed confidence that this strategic alignment will improve patient outcomes and promote AC5 adoption. Arch is based in Framingham, Massachusetts, and specializes in innovative wound care solutions, with regulatory approval for products in the U.S. and Europe.
- Formation of a Medical Advisory Board with six experienced professionals enhances strategic direction.
- Potential for improved commercialization and adoption of AC5 wound care products.
- No immediate financial metrics or outcomes detailed in the announcement.
Wound care professionals across multiple specialties to support strategic alignment of patient, payor, and provider goals
FRAMINGHAM, Mass., Jan. 18, 2023 (GLOBE NEWSWIRE) -- Arch Therapeutics, Inc. (OTCQB: ARTH) (“Arch” or the “Company”), a marketer and developer of novel self-assembling wound care and biosurgical products, today announced the formation of a medical advisory board (the “Medical Advisory Board”) comprised of respected wound care professionals across multiple medical specialties, including vascular surgery, podiatric medicine, and foot and ankle surgery. The Company believes that the Medical Advisory Board will support the strategic alignment of patient, payor, and provider goals to help advance the ongoing commercialization of its AC5® Advanced Wound System (“AC5”).
“We are honored to draw on the expertise of these industry leaders as we continue to pursue our mission of creating a better patient experience for those with challenging chronic and acute surgical wounds, while simultaneously improving value for both payors and medical practices,” stated Terrence W. Norchi, MD, President and Chief Executive Officer of Arch. “We believe the combined experience and expertise of this Medical Advisory Board will help drive the continued adoption and utilization of AC5, as well as potentially shape our work for years to come.”
Arch welcomes the following six members to its Medical Advisory Board:
- Dr. Gregory A. Bohn, MD, FACS, ABPM/UHM, MAPWCA, CWSP, board-certified in General Surgery and Hyperbaric Medicine, and President of the American Board of Wound Healing;
- Dr. Matthew G. Garoufalis, DPM, FASPS, FACPM, CWS, board-certified in Podiatric Medicine and Foot and Ankle Surgery, Chief Medical Officer of Advanced Oxygen Therapy Inc., and key opinion leader on diabetic foot care, lower extremity wound care, and limb salvage;
- Dr. John C. Lantis, MD, FACS, Chief and Professor of Surgery at Mount Sinai West Hospital and the Icahn School of Medicine, and key opinion leader on limb salvage and lower extremity wound healing;
- Dr. Brock A. Liden, DPM, FABWH, FAPWCA, board-certified in Podiatry, attending physician at WAFL, and expert lecturer on wound care, podiatric medicine, surgery, and practice management; and,
- Dr. Terry A. Treadwell, MD, FACS is a vascular surgeon, Medical Director of the Institute of Advanced Wound Care in Montgomery, Alabama, and renowned lecturer on chronic wound care.
About Arch Therapeutics, Inc.
Located in Framingham, Massachusetts, Arch is a biotechnology company with a novel approach to stop bleeding (hemostasis), control leaking (sealant), and manage wounds during surgery, trauma, and interventional care. Arch is developing wound care and biosurgical products based on an innovative self-assembling peptide technology platform with the goal of improving healing outcomes for patients. Arch has received regulatory clearance to market AC5® Advanced Wound System in the United States and AC5® Topical Hemostat in Europe. Arch's development stage product pipeline includes AC5-GTM for endoscopic resection of gastrointestinal tumors, AC5-V® for hemostasis during vascular surgery, and AC5 Surgical Hemostat for general surgical hemostasis, among others.1,2
For more information, please visit archtherapeutics.com or follow us on Twitter, Instagram, and LinkedIn.
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 satisfy our existing obligations and 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
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.
FAQ
What is the purpose of Arch Therapeutics' new Medical Advisory Board?
Who are the members of the Medical Advisory Board at Arch Therapeutics?
How might the formation of the Medical Advisory Board impact Arch Therapeutics (ARTH)?
When was the Medical Advisory Board for Arch Therapeutics announced?
