TORONTO, ONTARIO — (July 17, 2014) — Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV: ATE) is pleased to announce the formation of its Clinical Advisory Board with the appointment of three distinguished, internationally recognized gastroenterologists. The three appointees are: Dr. Francis Chan, Professor of Medicine at The Chinese University of Hong Kong; Dr. Angel Lanas, Professor of Medicine, University of Zaragoza (Spain); and Dr. James Scheiman, Professor of Internal Medicine at the University of Michigan.
Antibe’s Chief Science Officer, Dr. John Wallace, remarked, “We are exceptionally pleased and honoured to have these three globally recognized clinical investigators on our Clinical Advisory Board. Drs. Chan, Lanas, and Scheiman have designed and been the chief investigators of large clinical trials in the anti-inflammatory space including those that resulted in the marketing approval of Celebrex, now one of the most widely prescribed arthritis treatment medications.”
Nonsteroidal anti-inflammatory drugs (NSAIDs) are used to treat inflammatory conditions such as arthritis, yet they are associated with serious and potentially life-threatening side effects including gastrointestinal ulceration and bleeding in some patients. Antibe’s lead drug, ATB-346, is a hydrogen sulfide-releasing derivative of naproxen, the most prescribed NSAID in North America. In pre-clinical testing, ATB-346 exhibited comparable anti-inflammatory activity to naproxen, but with markedly reduced adverse gastrointestinal effects. It is presently being evaluated in a phase I human clinical trial. The Clinical Advisory Board will play a major role in designing Antibe’s future clinical development program, aimed at demonstrating the efficacy and improved safety of ATB-346 in humans.
The Corporation is also pleased to announce that Jeremy Grushcow, Ph.D., J.D. has moved to a full-time position as EVP, Strategic Development. In connection with his full time appointment, Dr. Grushcow has been granted options to purchase a total of 150,000 common shares of Antibe pursuant to the Corporation’s stock option plan. Each option bears an exercise price of $0.59, being the closing price of Antibe shares on July 16, 2014, and an expiry date July 16, 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.
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Tel: +1 416-473-4095