Antibe Therapeutics Announces Intent to Unify Intellectual.. Antibe Therapeutics Announces Intent to Unify Intellectual Property Ownership
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.