TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV: ATE) announces that discussions with the potential Latin American partner with which it executed an LOI in 2012 have been discontinued due to a recent change in the potential partner’s management and corporate strategy. Antibe’s CEO Dan Legault stated, “Although we were looking forward to working with this partner, we are gratified that our work on ATB-346 was validated by their due diligence studies. We are moving quickly into our next phase of development while continuing discussions with our other potential partners”. With the completion of its planned pre-clinical program, Antibe is on schedule to initiate its first-in-human trials in June, pending regulatory approval, and is continuing its regional partnering strategy including ongoing discussions with potential clinical partners.
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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