Arch Therapeutics Appoints Chirag Shah, PhD as Vice President of
R&D Engineering and Quality Systems and Peter LaCrosse as Chief
of Staff
Decades of Experience Adds Strength to Arch's Executive Team
WELLESLEY, MA--(Marketwired - Apr 1, 2014) - Arch Therapeutics,
Inc. (OTCQB: ARTH) ("Arch" or the "Company"), a life sciences
company and developer of the AC5 Surgical Hemostatic Device™, a
novel product aimed at controlling bleeding and fluid loss in order
to provide faster and safer surgical and interventional care, has
appointed Chirag Shah, PhD as Vice President of Research and
Development Engineering and Quality Systems, effective April 7,
2014, and has appointed Peter A. LaCrosse as Chief of Staff,
effective immediately.
Dr. Shah brings a proven record with 20 years of experience in
advanced research and product development, technology assessment,
and device performance evaluations for advanced wound care,
vascular and infection control products. Prior to joining Arch
Therapeutics, Dr. Shah spent a decade at Covidien, where he was a
Senior Director of the Biomaterials Research and Development Center
of Excellence in Vascular Therapies and contributed to peripheral,
neurovascular, wound care and renal access products and
technologies development. Earlier, Dr. Shah worked at Biolink
Corporation focusing on development of a liquid device product for
infection and clotting prevention. Prior to that, Dr. Shah worked
at the USCI division of C.R. Bard, focusing on myocardial bioactive
implant and thromboresistant stent coating technologies. Dr. Shah
earned a PhD from the University of Rhode Island in 1993 and
Executive Leadership Certificates from Cornell and the
Massachusetts Institute of Technology in 2011 and 2009,
respectively. Dr. Shah is listed as co-inventor on 25 US issued
patents and published applications.
Dr. Shah noted, "I am excited to join the Arch Therapeutics team
in order to bring innovative and differentiated products to the
market, starting with the AC5 Surgical Hemostatic Device. Arch is
developing solutions to address major customer needs and
significantly impact clinical practice and patient care. My broad
experience with the development of biomaterials-based vascular and
wound care technologies, as well as expertise in driving
cross-functional and collaborative R&D activities, is suited
well to helping drive AC5 toward commercialization and driving the
robust pipeline of products forward."
Peter A. LaCrosse is joining as the company's Chief of Staff,
bringing 11 years of high level operations experience and 15 years
of military experience. He comes from Febit Holding Company
(Heidelberg, Germany) where he was Vice President of US Operations,
reporting to the president. At Febit, Inc., he was responsible for
human resources, finance and controlling, infrastructure, and
information technology at a Massachusetts Facility. Mr. LaCrosse
also had customer and technical service responsibilities for the
Americas.
Prior to Febit, and starting in 2002, Mr. LaCrosse worked for
Saoirse Corporation where he eventually became Vice President of
Operations. He established and organized complete laboratory
facilities including the Chemistry, Material Science, and Biology
Departments, the Animal Facility and the High Intensity Focused
Ultrasound Lab. Mr. LaCrosse holds a Bachelors of Science degree
from Embry Riddle Aeronautical University.
Mr. LaCrosse is decorated as a former combat AH-64 (Apache)
Helicopter Pilot and Mission Planner, having flown in Central
America, South America and finally South East Asia during Desert
Storm. Mr. LaCrosse served as Assistant Operations Officer 4th
Battalion 229th Aviation Regiment, Safety Officer and Unit Trainer
6/6 Cavalry Regiment. He began his military service as a Marine,
conducting electronics and communication activities. Awards include
two Air Medals, two Army Commendation Medals, and the Army Aviator
Designation.
Mr. LaCrosse noted, "It is fantastic to join the high-caliber
Arch Team. I believe my experience with early stage companies
working to achieve demanding objectives in a fast-paced environment
will help me contribute to Arch's success."
Terrence W. Norchi, M.D., Chief Executive Officer of Arch
Therapeutics, said, "We are thrilled to have Chirag join Arch. He
is seasoned, smart and driven. He is experienced managing highly
technical professional teams, and he has insight into developing
biomaterials and devices for commercialization. These
characteristics are well aligned with the Arch culture. In
addition, Pete has a known track record of performing at
exceptionally high levels, both in his military service and in his
life science roles. I am confident that he can hit the ground
running in order to help us meet our milestones. We are honored to
have these two professionals join our executive team."
About Arch Therapeutics, Inc. Arch Therapeutics, Inc. is a
medical device company developing a novel approach to stop bleeding
(hemostasis) and control leaking (sealant) during surgery and
trauma care. Arch is developing products based on an innovative
self-assembling peptide technology platform to make surgery and
interventional care faster and safer for patients. Arch's flagship
development stage product candidate, known as AC5™, is being
designed to 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.
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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