Antibe Therapeutics Announces Grant of Stock Options and an Addition to Its Management Team
TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV:ATE) today granted its independent directors and a new addition to its management team options to purchase a total of 250,000 common shares of Antibe pursuant to the Corporation’s stock option plan. Each option bares an exercise price of $0.55, being the closing price of Antibe shares on October 21, 2013, and an expiry date of October 21, 2023. Twenty-five percent of the options vest on the grant date and 1/36th of the remaining options vest in each of the subsequent 36 months.
The Corporation is also pleased to announce that Jeremy Grushcow, Ph.D., J.D. has been appointed to the part-time role of VP Legal and Strategy. Dr. Grushcow has over ten years of experience in law, working with and representing public and private companies. He also has experience with venture capital and private equity firms in the acquisition, financing, development, operation and sale of pharmaceutical and life sciences companies in the U.S. and Canada. He is endorsed by PLC for his corporate and commercial expertise in Life Sciences, and is recognized for his transactional expertise in the 2013 edition of The International Who's Who of Life Sciences Lawyers. Dr. Grushcow holds a B.Sc. from the University of Toronto, a Ph.D. in Molecular Genetics and Cell Biology from the University of Chicago, and a J.D. with honors from the University of Chicago Law School, where he was awarded the John M. Olin Prize given to the outstanding student in Law and Economics. He has been admitted to the Bar in Ontario, New York and Illinois.
About Antibe Therapeutics Inc.
Antibe Therapeutics Inc. originates, develops and out-licenses patent-protected new pharmaceuticals that are improved versions of existing drugs. These improvements are based on Nobel Prize-winning medical research highlighting the crucial role of gaseous mediators, chemical substances produced in the human body to regulate a range of fundamental cellular processes. The Corporation’s drug design methodologies involve chemically linking an existing off-patent drug (“base drug”) to an Antibe-patented, hydrogen sulfide-releasing molecule. For medical conditions characterized by inflammation, pain or vascular dysfunction, the Corporation’s methodologies can efficiently produce improved versions of a number of existing drugs. Notably, Antibe’s products are themselves fully patent-protectable and may benefit from the predictable toxicity and effectiveness profiles of the base drug.
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