TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSXV:ATE) today announced that Dr. Michael Bumby has resigned as CFO, effective August 1, 2015. Antibe wishes to thank Dr. Bumby for his efforts in taking the Company public in 2013.
Samira Sakhia has been named the Company’s CFO on an interim basis replacing Dr. Bumby. Ms. Sakhia, currently a member of Antibe’s board of directors, brings a wealth of experience to the CFO role. She was the CFO of Paladin Labs Inc. for 13 years, responsible for leading the finance, operations, human resources, and investor-relations teams. During her tenure, Paladin achieved remarkable growth, increasing in value from $75 million to over $3 billion in 2014 when it was acquired by Endo International plc. Ms. Sakhia holds a Bachelor of Commerce degree in Finance and Accounting, and an MBA in Strategy and Marketing, both from McGill University, and is a Canadian-designated Chartered Professional Accountant.
Antibe is also pleased to announce that following a meeting of its Compensation Committee, the Corporation has granted its management team, including Ms. Sakhia, options to purchase a total of 610,000 common shares of Antibe pursuant to the Corporation’s stock option plan. Each option bears an exercise price of $0.14, being the closing price of Antibe shares on July 10, 2015, and an expiry date of July 13, 2025. Twenty-five percent of the granted options vest on the grant date and 1/36th of the remaining options vest in each of the subsequent 36 months.
About Antibe Therapeutics Inc.
Antibe develops safer medicines for pain and inflammation. Antibe’s technology involves linking a hydrogen sulfide-releasing molecule to an existing drug to produce a patented, improved medicine. Antibe’s lead drug ATB-346 targets the global need for a safer non-steroidal anti-inflammatory drug (NSAID) for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a safer analgesic for treating severe acute pain.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Important Note on Forward Looking Statements
