Arch Biopartners Announces Non Brokered Private Placement Financing

Arch Biopartners (TSXV:ARCH) a portfolio based biotechnology company, intends to complete a non-brokered private placement offering of up to 2,500,000 common shares priced at $0.50 per common share for gross proceeds of up to $1,250,000.

As quoted in the press release:

The Company intends to use a portion of the proceeds from the private placement to complete the funding of the investigator initiated Phase I inhalation safety trial Arch is sponsoring for AB569 at the Cincinnati Veterans Affairs Medical Center. AB569 is the Company’s drug candidate for treating drug resistant bacterial infections in the lungs and urinary tract.

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