TORONTO, March 14, 2025 (GLOBE NEWSWIRE) — Arch Biopartners Inc. (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF) today announced it has closed a non-brokered private placement offering of 145,000 common shares priced at CAD $1.55 per common share and 90,000 common shares priced at USD $1.15 (the “Common Shares”) for total gross proceeds of CAD $374,000 (the “Offering”).
The final amount of the Offering was an increase of CAD $24,000 from the amount originally disclosed to the market on March 5, 2025. The proceeds of the Offering will be used by Arch as general working capital and for certain research expenses. The Offering is subject to certain conditions including, but not limited to, the receipt of applicable regulatory approvals, including final approval from the TSX Venture Exchange.
All Common Shares issued in connection with the Offering will be subject to a hold period of four months and one day from the closing date. There are finders’ fees totaling CAD $5,425 to be paid to arm’s-length parties in connection with the Offering.
There is no material fact or material change about the Company that has not been generally disclosed.
About Arch Biopartners
Arch Biopartners Inc. is a late-stage clinical trial company focused on preventing acute kidney injury and organ damage caused by inflammation. The Company is developing a platform of novel drugs targeting the dipeptidase-1 (DPEP1) inflammation pathway prevalent in the kidneys, lungs and liver.
Its lead drug candidates, LSALT peptide and cilastatin, are being developed to target kidney injury caused by inflammation or toxins respectively, which are both significant unmet medical needs.
For more information on Arch Biopartners’ science and drug platform, please visit: www.archbiopartners.com/our-science
For investor information and other public documents the company has also filed on SEDAR+, please visit www.archbiopartners.com/investor-hub
The Company has 65,856,366 common shares outstanding.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws regarding expectations of our future performance, liquidity and capital resources, as well as the ongoing clinical development of our drug candidates targeting the dipeptidase-1 (DPEP1) pathway, including the outcome of our clinical trials relating to LSALT peptide (Metablok) or cilastatin, the successful commercialization and marketing of our drug candidates, whether we will receive, and the timing and costs of obtaining, regulatory approvals in Canada, the United States, Europe and other countries, our ability to raise capital to fund our business plans, the efficacy of our drug candidates compared to the drug candidates developed by our competitors, our ability to retain and attract key management personnel, and the breadth of, and our ability to protect, our intellectual property portfolio. These statements are based on management’s current expectations and beliefs, including certain factors and assumptions, as described in our most recent annual audited financial statements and related management discussion and analysis under the heading “Business Risks and Uncertainties”. As a result of these risks and uncertainties, or other unknown risks and uncertainties, our actual results may differ materially from those contained in any forward-looking statements. The words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We undertake no obligation to update forward-looking statements, except as required by law. Additional information relating to Arch Biopartners Inc., including our most recent annual audited financial statements, is available by accessing the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (“SEDAR”) website at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
