Versitech Ltd.

FRAMINGHAM, Mass., Feb. 18, 2021 (GLOBE NEWSWIRE) -- Arch Therapeutics, Inc. (OTCQB: ARTH) (“Arch” or the “Company”), developer of novel self-assembling wound care and biosurgical devices, today announced it has closed on the previously announced private placement of 43,125,004 shares of its common stock and warrants to purchase up to an aggregate of 32,343,753 shares of common stock, at a combined purchase price of $0.16 per share of common stock and associated warrant in a private placement. The gross proceeds to Arch from the private placement before deducting underwriting commissions and other offering expenses payable by Arch is $6.9 million. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The warrants have an exercise price of $0.17 per share, are exercisable immediately and have a term of 5.5 years. The Company currently intends to use the net proceeds from the offering to expand and accelerate commercialization efforts, manufacture/produce additional finished inventory, and advance pipeline programs. Terrence W. Norchi, MD, President and Chief Executive Officer of Arch, stated, “This is a pivotal year for Arch. We appreciate the enthusiastic support of both our long-standing current investors and our new institutional investors. We look forward to advancing our commercially available Dermal Sciences products as well as our pipeline stage Biosurgery products, which we believe hold tremendous potential.” The Company has recently announced commencement of commercial sales of AC5® Advanced Wound System, its first product in the United States. The Company also recently executed an agreement with Buffalo Supply, Inc. to be the distributor of products sold to United States government channels. Dr. Norchi added, “With inventory in possession and a distributor engaged to support sales to government facilities with support from independent sales representatives, we believe we are better positioned to commercialize AC5 Advanced Wound System to meet the underserved wound care markets.” Dr. Norchi further noted, “The impact of the COVID-19 pandemic in 2020 on the capacity of hospitals and surgeons to intake new technology and new products was remarkable, as many institutions were focused on new challenges. While we envision some headwinds to continue in 2021 for us and many in the medical industry, we believe that AC5 Advanced Wound System is well positioned to enable surgeons to address their patient’s challenging wounds. These wounds are all too often being treated electively when instead they should be addressed emergently in order to hopefully accelerate wound healing to better preserve limbs and possibly save lives.” Dr. Norchi concluded, “We believe that 2021 will be an exciting year for Arch while we continue to make progress towards maximizing the value of the intellectual property portfolios both developed at Arch and licensed exclusively worldwide from Massachusetts Institute of Technology and Versitech Limited.” The securities described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D promulgated thereunder and, in a transaction, not involving a public offering and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. About Arch Therapeutics, Inc. Arch Therapeutics, Inc. is a biotechnology company developing a novel approach to stop bleeding (hemostasis), control leaking (sealant) and manage wounds during surgery, trauma and interventional care. Arch is developing products based on an innovative self-assembling barrier technology platform with the goal of making care faster and safer for patients. Arch has received regulatory authorization to market AC5® Advanced Wound System and AC5® Topical Hemostat as medical devices in the United States and Europe, respectively. Arch's development stage product candidates include AC5-G™, AC5-V® and AC5® Surgical Hemostat, among others.1,2 Notice Regarding Forward-Looking Statements This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E 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, the intended use of net proceeds from the private placement, 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 obtain required regulatory approvals, our ability to produce commercial quantities of our products within projected timeframes, our ability to develop and commercialize products based on our technology platform, and market conditions, and our ability to establish additional commercialization partnerships and build a critical mass of field sales representatives. 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 . 1 AC5-G, AC5-V, and AC5 Surgical Hemostat are currently investigational devices limited by law to investigational use. 2 AC5, AC5-G, AC5-V and associated logos are trademarks and/or registered trademarks of Arch Therapeutics, Inc. and/or its subsidiaries. Contact: ARTH Investor Relations Toll Free: +1-855-340-ARTH (2784) (US and Canada) Email: investors@archtherapeutics.com Website: or Richard Davis Chief Financial Officer Arch Therapeutics, Inc. Phone: 617-431-2308 Email: rdavis@archtherapeutics.com Website:

SOUTH SAN FRANCISCO, CA and HONG KONG--(Marketwire - October 31, 2011) - Alios BioPharma, Inc. and Versitech Limited announced today an exclusive worldwide licensing agreement for technology targeting influenza viruses that will be used to advance the research, development, manufacture and commercialization of novel medicines to treat influenza infection. Additionally, the companies signed two other influenza-related, non-exclusive license agreements and a sponsored research agreement. Versitech Ltd. is the technology transfer company of the University of Hong Kong. Under the research agreement, Alios will sponsor collaborative research at the University of Hong Kong in the laboratories of Dr. Richard Kao, an assistant professor in the Department of Microbiology and a recognized leader in the field of influenza virus chemical genetics. "Influenza virus infection is responsible for a significant amount of morbidity and mortality and contributes to the rising cost of healthcare worldwide," said Lawrence M. Blatt, Ph.D., Founder, President and Chief Executive Officer of Alios BioPharma. "We are delighted to begin working with Versitech Ltd., the University of Hong Kong and Dr. Kao, as we believe that the compounds and technology derived from this collaboration will provide novel therapeutic options to improve the care of influenza virus-infected patients. Dr. Kao has identified novel chemical matter that targets a unique component of the influenza virus life cycle and we are diligently working with him to advance the lead molecules into clinical development." "Versitech is very pleased to join forces with Alios. Through access to Alios's drug development expertise, and its successful partnering track record, we have the opportunity to enhance the treatment of influenza and strengthen our defenses against pandemic threats," said Mr. Hailson Yu, Deputy Managing Director at Versitech Ltd. "With emerging resistance to the antiviral agents that are currently used to treat influenza infections, new antiviral agents that act on other targets are clearly needed." About Influenza Influenza, commonly referred to as the flu, is an infectious disease caused by RNA viruses of the family Orthomyxoviridae (the influenza viruses) that affects birds and mammals. The most common symptoms of the disease are chills, fever, sore throat, muscle pains, severe headache, coughing, weakness/fatigue and general discomfort. Although it is often confused with other illnesses caused by respiratory viruses, especially the common cold, influenza is a more severe disease than the common cold and is caused by a different type of virus. Influenza represents serious public health and economic problem, as it spreads around the world in seasonal epidemics, resulting in the deaths of between 250,000 and 500,000 people every year, or up to millions in some pandemic years. Between 1979 and 2001, on average, 41,400 people died from influenza each year in the United States. In 2010 the U.S. Centers for Disease Control and Prevention (CDC) changed the way it reports the 30-year estimates for deaths. The estimates for influenza are now reported as a range from a low of about 3,300 deaths to a high of 49,000 per year. The World Health Organization has estimated that the annual economic impact of influenza in the U.S. alone ranges from 71 to 167 billion dollars. About Alios BioPharma Alios BioPharma is a biotechnology company located in South San Francisco, California, that is developing novel medicines aimed at the treatment of viral diseases. Alios has an innovative team of highly experienced scientists and clinical researchers who are developing direct acting antiviral agents against several human viral pathogens of public health importance including hepatotropic and respiratory viruses, and other chronic, acute and emerging viral diseases. The overall goal for the Alios therapeutic platform is to maximize patient benefits in areas of high unmet medical need through optimization of potency, safety and tolerability. Alios has a significant research and development collaboration with Vertex Pharmaceuticals, Inc., aimed at advancing novel nucleoside therapeutics for the treatment of chronic hepatitis C. Alios is the recipient of the 2011 BayBio Pantheon Outstanding Partnering Award associated with the Alios/Vertex collaboration that was announced in June 2011. About Versitech Ltd. Versitech Limited, the technology transfer and commercial arm of the University of Hong Kong, is a wholly-owned subsidiary of the University. Versitech consists of top University management and prominent business people to promote research, teaching, and technology transfer for the public benefit. Versitech offers a full set of services in the following areas to ensure effective technology transfer for the University: Training - Organizes short courses and other training services. Commercialization - Commercializes the intellectual property of the University through licensing and collaboration with industry. Contract Research and Consulting - Performs research and development activities funded by industry and government organizations to add commercial value to the intellectual capital assets of the University Contacts: Alios BioPharma Debra Bannister (media) Communications Consultant 530 676-7373 Bruce Bryan, MBA (corporate) Senior Director of Operations and Project Management 650 635-5502 Email Contact Versitech, Ltd. Dr. Andrew Chan Sr. Business Manager, Business Development (Biotechnology) + 011 + 852 + 2299 0155 Email Contact