TORONTO, ONTARIO — (May 5, 2015) — Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSXV: ATE) announced today the following:
Antibe wishes to congratulate its CSO, Dr. John Wallace, on the publication of a paper entitled “Hydrogen sulfide-based therapeutics: exploiting a unique but ubiquitous gasotransmitter” in the prestigious journal, Nature Reviews Drug Discovery. The paper, co-authored by Dr. Wallace and Dr. Rui Wang, written in the fall of 2014, will appear in the journal’s May 2015 edition. A copy of the paper is available on the Company’s website.
Antibe is pleased to announce that it has become eligible for the book-entry delivery and depository services of The Depository Trust Company (the “DTC”) to facilitate electronic settlement and transfer of its common shares in the US. Securities approved for electronic clearance and settlement through the DTC are considered “DTC eligible.” DTC eligibility enables Antibe’s stock to be traded by a wider selection of US brokerage firms, many of whom require DTC eligibility as a prerequisite for trading.
The Company announced that it has granted a previous officer 148,936 common shares in the Company at the April 30, 2015 closing market price of $0.235 per common share for a total value of $35,000. This grant has been made in exchange for the officer waiving a portion of the cash component of the officer’s severance.
Finally, Antibe announced that it has granted options to Hamza Thindal Capital Corporation (“HTCC”) in exchange for consulting services to be provided by HTCC under the terms of a consulting agreement. Under the terms of the agreement, HTCC will be granted 300,000 options. Such options will vest quarterly starting on the date of the grant, will be exercisable at a price of $0.235, and will expire May 5, 2018.
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.
This 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.
Antibe Therapeutics Inc.
Chief Executive Officer
Tel: +1 416-473-4095
Read all news