TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. (TSX: ATE, OTCQB: ATBPF) (the “Company”), a clinical stage company leveraging its unique hydrogen sulfide platform to develop safer medicines for pain and inflammation, today announced that it has commenced preliminary discussions to amalgamate Antibe Holdings Inc. (“Holdings”) with the Company in order to unify the intellectual property (“IP”) ownership of the Company’s drugs and platform. The Company believes that such an initiative would unlock value for potential partners and investors while simplifying IP protection for pipeline expansion efforts now underway.
“As described in our ongoing disclosures, the Company was founded with an exclusive license from Holdings,” commented Dan Legault, Antibe’s CEO. “Based on this IP, we have achieved human proof-of-concept for otenaproxesul and developed compelling preclinical data for our other pipeline drugs. As we map out strategic initiatives with prospective partners and healthcare-specialized investors, we expect full ownership of the underlying IP to strengthen our corporate position. It also represents another step in our growth strategy, complementing our recent graduation to the TSX, share consolidation and the appointment of U.S.-based directors.”
The Company will update the market upon further material developments as they are achieved.
About Antibe Therapeutics Inc.
Antibe is leveraging its proprietary hydrogen sulfide platform to develop next-generation, safer nonsteroidal anti-inflammatory drugs (“NSAIDs”) for pain and inflammation arising from a wide range of medical conditions. Antibe is developing three assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with NSAIDs. Antibe’s lead drug, otenaproxesul (ATB-346), is entering Phase III for osteoarthritis pain. Additional assets under development include a safer alternative to opioids for peri-operative pain, and a GI-safe alternative to low-dose aspirin. Learn more at antibethera.com.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, the proposed 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 wording. 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 inability to secure additional financing and licensing arrangements on reasonable terms, or at all, its inability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical device development generally. Antibe Therapeutics 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.