TORONTO, ONTARIO — (May 12, 2014) — Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV: ATE) is pleased to announce the appointment of Samira Sakhia (B.Comm., MBA, CPA) to its Board of Directors. Ms. Sakhia has been the CFO of Paladin Labs Inc. since 2002, where she is responsible for leading the finance, operations, human resources, and investor relations teams. Ms. Sakhia has been a key member of the management team at Paladin and closely involved in the company’s strategy of in-licensing, acquiring products, and acquiring other specialty pharmaceutical companies in Canada and abroad. During her tenure, Paladin achieved remarkable growth, increasing in value from $75 million to over $3 billion in 2014 when it was acquired by Endo International plc. Prior to joining Paladin, Ms. Sakhia held several leadership positions at Discreet Logic Inc. including Controller of North American Operations, Manager of International Financial Reporting (Montreal, Quebec), and European Financial Manager (London, England). Prior to working at Discreet Logic, Ms. Sakhia worked as an auditor at Arthur Andersen & Co. Ms. Sakhia holds a Bachelor of Commerce degree in Finance and Accounting, and an MBA in Strategy and Marketing, all from McGill University. In addition, Ms. Sakhia is a Canadian-designated Chartered Professional Accountant. Ms. Sakhia was the recipient of the 2014 Aces of Finance Award from the Quebec Chapter of the Financial Executive Institute of Canada in the “Financial executive of a small or medium sized enterprise” category.
Walt Macnee, Antibe’s Chairman, said “We are delighted to add Ms. Sakhia to the Antibe Board. Her pharmaceutical industry expertise and financial acumen will be a tremendous asset to us as we grow.”
The Corporation has granted Ms. Sakhia as well as an existing member of its management team options to purchase a total of 100,000 common shares of Antibe pursuant to the Corporation’s stock option plan. Each option bears an exercise price of $0.54, being the closing price of Antibe shares on May 9, 2014, and an expiry date of May 9, 2024. 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.
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 an important source of knowledge and experience for bone regeneration in the Canadian medical device industry. Citagenix is active in 15 countries, operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships. www.citagenix.com
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Forward-Looking InformationThis 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, 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, the Company’s ability to secure additional financing, 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 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.
Contact InformationAntibe Therapeutics Inc.
Chief Executive Officer
Tel: +1 416-473-4095