Arch Therapeutics Inc (OTCBB:ARTH) has announced that the US Patent Office has approved a notice of allowance, regarding a broad composition of matter patent. Although the patent was originally developed by MIT and Versitech Limited, Arch Therapeutics holds the exclusive licensing rights, worldwide. The patent covers a wide range of present and proposed Arch products. The products also contain peptides, which tend to form barrier like structures on tissues, thereby preventing passage of bodily fluids.
The company had recently released promising data from one such product, the AC5 surgical Hemostatic Device. The trial included a 21-day repeat exposure skin test, to determine the irritation effects of the device to human skin. This was also the first safety data for the device, from human testing. The results of the trial showed that the AC5 had no irritation effects, to the human skin.
Terrence Norchi, the CEO of ARTH, stated that the results were an important step in demonstrating the clinical safety of AC5. He further added that the data would add to the profile of AC5 in hemostasis and other applications. Regarding the patent, he stated that it confirms the innovative nature of the self-assembling technology and the company’s commitment in the areas of unmet need. He also revealed that tests from the AC5 have shown that it can stop bleeding, when applied to a wound. The CEO concluded by expressing his eagerness at the results from the first human trial, underway in Europe and by revealing plans to file for a CE Mark this summer.
Arch Therapeutics has also filed several patent applications of its own, but it still holds the licensing rights to this technology as well. This tends to allow the company to manufacture and market medical applications of the technology, worldwide. The patent applications are pending in multiple jurisdictions.
Arch Therapeutics Inc (OTCBB:ARTH) closed trading at a share price of $0.47, after gaining 4.91% and having a trade volume of 3.17 million, at the end of the April 7 session.