ARC was founded in December of 1999 with the intention of developing injectable, controlled release drug delivery systems for emerging oligonucleotide therapeutics that faced delivery challenges due to rapid degradation and elimination of these drugs in the body.  The Company recognized in the fourth quarter of 2001 that the market for drug delivery systems and the use of oligonucleotides as therapeutic agents was developing slower than anticipated. 

In January of 2002, ARC decided to focus its research & development efforts on loading novel therapeutics into medical devices in order to significantly increase the effectiveness of these devices.  This decision was based on the potential market size and the existing core expertise of the Company.  In October, 2003, ARC entered into an exclusive worldwide license agreement with UBC for the therapeutic uses of fucans, including the ARCADÔ Instillate technology. 

Since July 2002, ARC has successfully loaded novel therapeutic agents into films, gels and instillates and completed proof of principle efficacy and safety studies in several preclinical models of surgical adhesions.  For the ARCAD™ Instillate lead product candidate ARC has completed preclinical animal efficacy studies, pilot animal safety studies, and pilot stability studies.