This month marks the beginning of a new collaboration agreement between Arch Therapeutics and CÚRAM Centre for Research in Medical Devices.
Initiated by Arch, this partnership aims to radically improve health outcomes for patients by combining on the development of “smart” medical devices. As part of the collaboration agreement, Arch and CÚRAM intend to deploy resources in Ireland to advance Arch’s technology, ranging from early stage research to late stage development. Under Arch oversight and guidance, personnel from Arch and CÚRAM will work closely together on diverse pipeline projects, including new potential indications and products as well as human clinical trial planning.
“This collaboration encompasses a direct, forward-looking approach to the changing global dynamics of both industry and academic R&D, representing a unique and mutually beneficial opportunity for both Arch Therapeutics and CÚRAM,” said Terrence W. Norchi, MD, chief executive officer of Arch Therapeutics. “Arch benefits by obtaining access to financial, infrastructural and expert human resources for our planned work; CÚRAM benefits by being provided access to collaborate on our technology; and Ireland benefits from the shift of some of Arch’s financial and labor resources to Ireland as well as the growing footprint of a non-Irish company into the country.”
In addition to receiving infrastructure support, for each €1 up to an annual maximum of €250,000 that Arch contributes to its own research and development (R&D) activities within CÚRAM, CÚRAM will contribute €2 up to an annual maximum of €500,000 to those same activities, made possible by its grant funding from Science Foundation Ireland (SFI).
“CÚRAM has come along at a pivotal point in the medical device industry in Ireland and Europe, as there are large markets with unmet clinical needs,” said Prof. Abhay Pandit, director of CÚRAM. “CÚRAM plans to invigorate the landscape by enhancing technology that exists and introducing technology that does not yet exist. Leaders within CÚRAM have a successful history working with Arch, and we are delighted to support their drive to commercialization for what should be very important products for the healthcare industry.”
CÚRAM Centre for Research in Medical Devices