Arch Therapeutics Appoints Senior Management Team Members
08 Juli 2013 - 3:00PM
Marketwired
Arch Therapeutics, Inc. (OTCQB: ARTH) ("Arch"
or the "Company"), a life science company and developer of AC5™, a
novel product aimed at controlling bleeding and fluid loss in order
to provide faster and safer surgical and interventional care, is
pleased to appoint Mr. Alan Barber as CFO and Mr. William M. Cotter
as COO.
Mr. Barber was appointed as the Chief Financial Officer of the
Company effective June 26, 2013, and has served as the Chief
Financial Officer of Arch Biosurgery, Inc. ("ABS") since August
2008. He has over 30 years of financial management experience.
Since September 2005, he has been and continues to be an
independent consultant on financial matters. Prior to that, Mr.
Barber was the Chief Financial Officer for a number of technology
and life science start-up companies including Biotrove, Inc. from
April 2004 to September 2005, Omnisonics Medical Technologies, Inc.
from October 2001 to April 2004, Innovation Chain, Inc. from
October 2000 to September 2001, MyWay.com from December 1999 to
October 2000, Medical Foods, Inc. from November 1997 to October
1999 and Ergo Science, Inc. from October 1993 to November 1997.
Previously, Mr. Barber was a Partner with the international
accounting firm of PricewaterhouseCoopers (formerly Coopers &
Lybrand) from July 1979 to October 1993, where he was elected as a
Partner in the firm in July 1986. Prior to that, he worked for the
international accounting firm KPMG from May 1975 to July 1979. Mr.
Barber received a Bachelor of Science degree in Accounting from the
Florida State University, Rovetta School of Business, and is a
Certified Public Accountant.
Mr. Cotter has been appointed as Chief Operating Officer
effective July 8, 2013 and has been advising ABS since 2011. He is
an industry veteran who brings expertise in operations and product
development in his role to Arch Therapeutics. Mr. Cotter has over
30 years of operational experience in Medical Devices, Diagnostics,
Biologics and Life Science companies, ranging from early stage
startups to large multinational corporations. Mr. Cotter has served
in senior operations and development roles for companies including
Cohera Medical, Helicos Biosciences, Closure Medical Corporation
(Johnson & Johnson), Sanofi Diagnostics Pasteur (Beckman
Coulter), Genetic Systems Corporation (Bio-Rad) and Advanced
Technology Laboratories (Phillips HealthCare). Mr. Cotter spent 10
years as VP Operations of Closure Medical Corporation where he was
part of the team that developed Dermabond®, the world's first
synthetic topical skin adhesive approved by the FDA. He had direct
responsibility and accountability for all product transfers from
R&D, Engineering, Quality Control, Document Control, Production
and Logistics. He was the development project leader and
co-inventor of the Dermabond TSA ProPen delivery applicator, which
won the 2004 Medical Design Excellence Gold Medal Award. He was an
integral part of the Closure Medical senior management team that
led to a successful acquisition by Johnson & Johnson. Prior to
Closure Medical, he spent 8 years with Sanofi Diagnostics Pastuer,
where he had direct responsibility for all North American
industrial sites and chaired the World Wide Manufacturing Committee
for this International In-Vitro Diagnostics Company. Mr. Cotter is
listed as co-inventor on 8 US patents and is a graduate of Ohio
University.
Company CEO, Dr. Terrence Norchi comments, "We are delighted to
announce the appointments of both Alan and Bill. Their expertise,
commitment and overall level of professionalism have been a
hallmark of my previous experiences with them both. As our Company
moves into this next phase of development, it is reassuring to know
that we have capable hands managing our various obligations and
future challenges."
Additional details regarding Arch Therapeutics, Inc. and its
agreements are filed as part of the Company's continuous public
disclosure as a reporting issuer under the Securities Exchange Act
of 1934 filed with the Securities and Exchange Commission ("SEC"),
and are available at the SEC's website at www.sec.gov. For more
information, visit our website at www.archtherapeutics.com.
About Arch Therapeutics, Inc. (OTCQB:
ARTH) Arch Therapeutics, Inc. (OTCQB: ARTH) is a medical device
company developing a novel approach to stop bleeding (hemostasis)
and control leaking (sealant) during surgery and trauma care.
Arch's goal is to develop and commercialize products based on our
innovative technology platform that make surgery and interventional
care faster and safer for patients. Arch's flagship development
stage product candidate known as AC5™ is being designed to
elegantly achieve hemostasis in minimally invasive and open
surgical procedures. Find out more at www.archtherapeutics.com.
Notice Regarding Forward-Looking
Statements This news release contains "forward-looking
statements" as that term is defined in Section 27(a) of the
Securities Act of 1933, as amended, and Section 21(e) of the
Securities Exchange Act of 1934, as amended. Statements in this
press release that are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such
forward-looking statements include, among other things, references
to novel technologies and methods, our business and product
development plans and projections, or market information. Actual
results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among
others, the inherent uncertainties associated with developing new
products or technologies and operating as a development stage
company, our ability to retain important members of our management
team and attract other qualified personnel, our ability to raise
the additional funding we will need to continue to pursue our
business and product development plans, our ability to develop and
commercialize products based on our technology platform, and market
conditions. These forward-looking statements are made as of the
date of this news release, and we assume no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in the reports
and other documents we file with the SEC, available at
www.sec.gov.
On Behalf of the Board,
Terrence W. Norchi, MD. Arch Therapeutics, Inc.
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Contact: ARTH Investor Relations Toll Free:
+1-855-340-ARTH (2784) (US and Canada) Email:
investors@archtherapeutics.com Website:
www.archtherapeutics.com
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