WELLESLEY, MA--(Marketwired - April 01, 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.
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On Behalf of the Board,
Terrence W. Norchi, MD