TORONTO, CANADA — (Jan 12, 2016) — Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSXV: ATE, OTCQX: ATBPF), a commercial-stage healthcare company focused on pain, inflammation and regenerative medicine, is pleased to announce the signing of an exclusive Licensing and Distribution Agreement with Induce Biologics Inc. (“Induce”) for the Canadian rights for Induce’s URIST(TM) biological product for dental and craniofacial applications. URIST(TM) is a novel bone graft substitute that contains bone morphogenetic protein-2 (BMP), and is being developed as a means of promoting the regeneration of bone following dental and oral maxillofacial surgery. Animal studies have demonstrated the ability of URIST(TM) to potently stimulate bone re-growth. Orthobiologics (the use of biological approaches to regenerate and repair bone) is estimated to be a US$4.4 billion market. BMP-based products are among the largest segments of this market.
“This is the first product that we have in-licensed since the completion of our transformational acquisition of Citagenix, and is consistent with our strategy of building a portfolio of innovative technologies in the exciting field of tissue regeneration,” said Daniel Legault, President and CEO of Antibe. “URIST(TM) is a pre-approval, high-return opportunity that has the potential to disrupt the present landscape of commercial bone regeneration products. In addition to URIST(TM), we hope to secure additional licensing opportunities in the coming months to further increase shareholder value.” Under the terms of the agreement, Induce will receive an upfront payment of CDN$250,000.
Citagenix Inc. (“Citagenix”), a wholly owned subsidiary of Antibe, is a leader in the sales and marketing of commercial tissue regeneration products across Canada and has over 15 distribution partners globally. Antibe is actively pursuing both pre-approval and commercial business development opportunities that directly leverage Citagenix’s distribution resources and respected, knowledgeable sales force.
About Induce Biologics Inc. / URIST(TM)
Induce is a private biotechnology company with a focus on the advancement of its URIST(TM) bone putty technology. URIST(TM) comes in a convenient kit which provides a multi-phasic release of the active ingredient (BMP) at the surgical site. The final pre-clinical work required to advance URIST(TM) into clinical development is currently underway and the processes required to manufacture the BMP and URIST(TM) have been developed. www.inducebiologics.com.
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