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Arch Biopartners Inc V.ARCH

Alternate Symbol(s):  ACHFF

Arch Biopartners Inc. is a late-stage clinical trial company focused on preventing acute kidney injury. The Company is developing a platform of new drugs to prevent inflammation injury in the kidneys, lungs and liver via the dipeptidase-1 (DPEP1) pathway and are relevant for many common injuries and diseases where organ inflammation is an unmet problem. The Company’s lead drug candidate is LSALT Peptide. The Company is engaged in the clinical development of LSALT Peptide and other DPEP-1 targeting drug candidates for indications where inflammation of the lungs, liver and kidneys is an unmet problem. LSALT Peptide is in a second phase II trial, targeting the prevention and treatment of cardiac surgery-associated acute kidney injury (CS-AKI). The Company has additional technology platforms in its portfolio, which are AB569 and Borg. AB569 is an anti-infective candidate for treating or preventing antibiotic resistant bacterial infections, primarily as a topical treatment for wounds.


TSXV:ARCH - Post by User

Post by TheBearInTheWoodson Sep 05, 2021 10:17am
164 Views
Post# 33815362

Better than dilution

Better than dilutionDuring the third quarter ending June 30, 2021, the Company entered into a short-term financing agreement with an arm’s length party. The note was in the amount of $2.2 million and carries interest at 10% per annum for a term of up to 90 days. The purpose of the note was to reduce accounts payable until amounts are received from industry grants as described in note 13 of the financial statements. In August, 2021, this note was replaced with a new one of $1.775M, as described in Note 14 of the financial statements for the quarter ending June 30, 2021.
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