TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. ("Antibe") (TSXV:ATE) (OTCQX:ATBPF) filed its financial and operating results on Tuesday, November 29 for the fiscal quarter ended September 30, 2016. The Corporation’s unaudited fiscal Q2 2017 interim consolidated financial statements and MD&A are available on SEDAR.
“The clinical development of ATB-346 continues to be the top priority for our executive team as we prepare to initiate a double-blind, placebo-controlled, phase 2 dose-ranging clinical study for osteoarthritis in the new year,” said Dan Legault, Antibe’s CEO. “In addition, Citagenix has been executing upon its U.S. expansion strategy and has taken steps to concentrate its focus on dental regenerative medicine. In particular, Citagenix has decided to slowly withdraw from the orthopedic market and has repositioned its surgical instrument line to be more complementary to its dental regenerative business. The launch of its growth initiative in the USA last month is a significant milestone for Citagenix’s global expansion strategy and we expect it to deliver a positive contribution to profitability within a few quarters.”
Q2 2017 Highlights
- Successfully completed initial phase 2 clinical trial of ATB-346 in osteoarthritis patients with strong efficacy and safety data;
- Continued promising pre-clinical work for ATB-346 in experimental cancer;
- Launched Neomem® FlexPlus, a high-performance barrier membrane for regenerative procedures in oral surgery;
- Appointed Yung Wu, Managing Director of private equity firm NFQ Ventures and a seasoned entrepreneur, to the Board of Directors; and
- Presented at the 2016 Rodman & Renshaw Global Investment Conference.
Post Q2 2017 Highlights
- Initiated strategic growth initiative for Citagenix in the United States, the largest global market for dental biologics; and
- Confirmed non-addictive properties for Antibe’s second pipeline drug, ATB-352, a potent pain-killer.
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 drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a safer, non-addictive analgesic for treating severe acute pain, while ATB-340 is a GI-safe derivative of aspirin. www.antibethera.com.
Antibe’s subsidiary, Citagenix Inc. (“Citagenix”), is a leader in the sales and marketing of tissue regenerative products servicing the orthopedic and dental marketplaces. Since its inception in 1997, Citagenix has become the largest source of knowledge and experience in the Canadian medical device industry. Citagenix Inc. is active in 15 countries, operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships. www.citagenix.com.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, the growth of product sales, engaging new distributors and independent representatives and the licensing and development of drugs and medical devices. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s ability to secure additional financing, its ability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical device development generally. Antibe Therapeutics Inc. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.