Antibe Therapeutics Announces Intent to Unify Intellectual Property Ownership
December 18 2020 - 7:00AM
Business Wire
- Supports U.S. capital markets strategy,
large market partnering and pipeline expansion initiatives
-
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20201218005095/en/
Antibe Therapeutics Inc. Christina Cameron VP Investor Relations
+1 416-922-3460 christina@antibethera.com Stern Investor Relations
Courtney Turiano +1 212-362-1200 courtney.turiano@sternir.com
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