TORONTO, ONTARIO — (Jul 13, 2015) — Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSXV: ATE) today announced that Dr. Michael Bumby has resigned as CFO, effective August 1, 2015. Antibe wishes to thank Dr. Bumby for his efforts in taking the Company public in 2013.
Samira Sakhia has been named the Company’s CFO on an interim basis replacing Dr. Bumby. Ms. Sakhia, currently a member of Antibe’s board of directors, brings a wealth of experience to the CFO role. She was the CFO of Paladin Labs Inc. for 13 years, responsible for leading the finance, operations, human resources, and investor-relations teams. 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. Ms. Sakhia holds a Bachelor of Commerce degree in Finance and Accounting, and an MBA in Strategy and Marketing, both from McGill University, and is a Canadian-designated Chartered Professional Accountant.
Antibe is also pleased to announce that following a meeting of its Compensation Committee, the Corporation has granted its management team, including Ms. Sakhia, options to purchase a total of 610,000 common shares of Antibe pursuant to the Corporation’s stock option plan. Each option bears an exercise price of $0.14, being the closing price of Antibe shares on July 10, 2015, and an expiry date of July 13, 2025. Twenty-five percent of the granted 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
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 Information
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.
Contact Information
Antibe Therapeutics Inc.
Dan Legault
Chief Executive Officer
Tel: +1 416-473-4095
[email protected]
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