Business
InvestmentPitch Media Video Discusses Arch Biopartners' Awarding of $6.7 Million from Canadian Government's Strategic Innovation Fund - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2020) - Arch Biopartners (TSXV: AR...
About this update from Arch Biopartners, Inc.
[{"type":"text","content":"InvestmentPitch Media Video Discusses Arch Biopartners' Awarding of $6.7 Million from Canadian Government's Strategic Innovation Fund - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - December 17, 2020) - Arch Biopartners (TSXV: ARCH) (OTCQB: ACHFF), 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.For more information, please view the InvestmentPitch Media \"video\" which provides additional information about this news and the company and comments from Prime Minister Justin Trudeau. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Arch Biopartners\" in the search box.Cannot view this video? Visit:http://www.investmentpitch.com/video/1_enwkhq4v/Arch-Biopartners-Receives-Government-of-Canada-Funding-to-Support-Phase-II-Therapeutic-Trial-of-Metablok-for-COVID-19The 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 h...