TORONTO, ONTARIO — (November 28, 2014) — Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV: ATE) filed its financial and operating results today for its fiscal quarter ended September 30, 2014.
Highlights for the quarter include:
• The Company completed the first stage of its Phase I study, the prescheduled SAD (single ascending dose) stage, on ATB-346.
• The Company began the second stage of its Phase I study, the prescheduled MAD (multiple ascending dose), and expects the study to be completed in January 2015 with the results released soon thereafter.
• The Company began trading in the United States on the OTCQX exchange under the ticker symbol “ATBPF”. OTCQX is the premier tier of the US OTC markets and will offer US-based investors the opportunity to efficiently trade the Company’s stock.
• Total net expenses in fiscal Q2 2015 increased by $738K over fiscal Q2 2014 driven by increased expenditures on research and development work performed to advance ATB-346 through its development program.
The Corporation’s unaudited Q2 2015 financial statements and MD&A have been filed on SEDAR and an updated corporate presentation is available on the Corporation’s website.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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