TORONTO--(BUSINESS WIRE)--
Antibe Therapeutics Inc. ("Antibe") (TSXV: ATE, OTCQB: ATBPF) filed its financial and operating results on Tuesday, November 28th for the fiscal quarter ended September 30, 2017. The Corporation’s unaudited fiscal Q2 2018 condensed interim consolidated financial statements and MD&A are available on SEDAR.
Dan Legault, Antibe’s CEO, commented, “Our most recently completed fiscal quarter represented a significant milestone for Antibe as our lead drug, ATB-346, commenced its key Phase 2b clinical study to demonstrate unequivocal superiority in GI safety. We are pleased to report that the study is progressing well, with now nearly 100 subjects enrolled. We remain on track for a data read-out in Q1 2018. Meanwhile, Citagenix continues to advance its initiatives to support its global growth strategy which we expect will positively impact performance in 2018.”
Development Activities for ATB-346 Progressing Well
Antibe continues to focus its development efforts on ATB-346, its lead drug that targets the global need for a safer drug for chronic pain and inflammation. The Company’s on-going Phase 2b, double-blind GI safety study for ATB-346 is progressing well and remains on schedule. As of today, 97 subjects have been enrolled (of the total 240 subjects) and the Company continues to expect a data read-out in Q1 2018 as previously disclosed.
In addition, Antibe has engaged a leading metabolism clinical research organization (“CRO”) to conduct studies to further characterize the metabolic profile of ATB-346. The Company anticipates that these metabolism studies will commence in January 2018.
Commercial Activities to be Supported by Key Initiatives
Antibe’s commercial division in dental regenerative medicine, Citagenix Inc. (“Citagenix”), continues to advance several key initiatives to support its global growth strategy. These initiatives are on track for completion by January, and include: (i) the implementation of key marketing, training and support tools for field representatives; (ii) upgraded systems infrastructure, including the launch of full e-commerce capabilities; and (iii) the launch of a new brand identity to support its global re-positioning. These initiatives are anticipated to result in growth and improved performance by the end of fiscal 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, non-addictive drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a 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.
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 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 ability 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.
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