TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. ("Antibe") (TSXV:ATE, OTCQX:ATBPF) filed its financial and operating results on Monday, August 29 for the fiscal quarter ended June 30, 2016. The Corporation’s unaudited fiscal Q1 2017 interim consolidated financial statements and MD&A are available on SEDAR.
“We are pleased with the operational progress being made at Citagenix and remain focused on generating growth through new products and international expansion, including in the United States,” said Dan Legault, Antibe’s CEO. “These strategic initiatives should have a material impact on revenue and profitability over the next 12 months. In addition, we achieved a significant milestone earlier this month with the successful completion of our phase 2 study of ATB-346 in osteoarthritis patients.”
Antibe plans to expeditiously perform additional clinical trials to confirm the results of its initial phase 2 study and further explore the effectiveness of ATB-346 at lower doses, as well as demonstrating enhanced gastrointestinal safety of this drug in humans.
Q1 2017 Highlights
- Completed operational repositioning of Citagenix to focus on dental regenerative medicine and achieved meaningful expense reductions;
- Launched PentOS OI™ Putty, a high-quality bone graft substitute for oral and maxillofacial surgery;
- Successfully completed a non-brokered private placement raising gross proceeds of $1,455,000; and
- Presented at the 2016 Bloom Burton & Co. Healthcare Conference and the International Hydrogen Sulfide Conference.
Post Q1 2017 Highlights
- Successfully completed initial phase 2 clinical trial of ATB-346 in osteoarthritis patients with strong efficacy and safety data;
- Appointed Yung Wu, Managing Director of private equity firm NFQ Ventures and a seasoned entrepreneur, to the Board of Directors; and
- Launched Neomem® FlexPlus, a high-performance barrier membrane for regenerative procedures in oral surgery.
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-addictive drug 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, 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 completion of financing transactions 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, failure to satisfy closing conditions for the transactions, not obtaining future financing on adequate terms, or at all, failure to obtain TSX Venture Exchange approval for the transactions described herein, 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.