TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical-stage company leveraging its unique hydrogen sulfide platform to develop next-generation safer therapies to target inflammation in a wide range of health conditions, today announced a strategic collaboration with Dalriada Drug Discovery to develop new drug candidates and fortify Antibe’s intellectual property (“IP”) position for its current pipeline.
“The robust data from otenaproxesul’s extensive animal studies and human trials have highlighted the broad therapeutic and commercial potential of our drug platform,” commented Dan Legault, Antibe’s CEO. “As we prepare for otenaproxesul’s Phase III program, our strong balance sheet also enables us to tap Dalriada’s scientific expertise and throughput capacity to further our pipeline expansion strategy and IP position – efficiently and cost-effectively. This collaboration also leverages the projects already underway with our U.S. university-based chemistry group.”
Dalriada is a contract research organization (“CRO”) specializing in the development of small-molecule drugs (such as those based on Antibe’s platform) from initial discovery to development candidate nomination and management of IND-enabling studies. Its team comprises more than 50 scientists, including world-class experts in medicinal chemistry, bioanalytical chemistry, pharmacology, biochemistry and computational chemistry. Dalriada has supported integrated programs of public and venture capital-backed companies, including Janpix, Canopy Growth and Dunad Therapeutics.
Dalriada’s efforts will extend medicinal chemistry capabilities and accelerate screening, selection and advancement of drug candidates for IND-enabling studies. As previously announced, Antibe’s first candidates for screening address inflammatory bowel disease (“IBD”), a condition affecting more than three million North American adults. Dalriada’s efforts are also being directed towards the development of fresh IP for existing pipeline drugs to lengthen the duration of patent and market protection. Antibe will retain ownership rights to any new IP.
Diana Kraskouskaya, CEO of Dalriada, noted, “With the increasing recognition of inflammation’s central role in many diseases, we see the profound potential of Antibe’s revolutionary anti-inflammatory platform. Dalriada’s Turn-Key model is specifically designed to enable rapid expansion of therapeutic pipelines and accelerate value creation for our partners’ programs. We are excited to commit our resources to this undertaking in collaboration with Antibe’s world-renowned scientists and expert commercial team.”
In support of these efforts, Antibe is pleased to appoint Harvey Schipper, MD, FRCPC, to its Scientific Advisory Board. A practicing physician, Dr. Schipper is also a professor of medicine and law at the University of Toronto. His efforts have shifted medical practice, scientific investigation and health policy around the world. In particular, Dr. Schipper’s pioneering work with the World Health Organization helped establish ‘Quality of Life’ as a substantive indicator of patient well-being. With a background also encompassing venture capital and business governance, he will spearhead efforts to uncover business opportunities by mapping unmet medical needs to scientific feasibility and commercial potential.
About Antibe Therapeutics Inc.
Antibe is leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies to address inflammation arising from a wide range of medical conditions. The Company’s current pipeline includes three assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul, is entering Phase III for the treatment of osteoarthritis pain. Additional assets under development include a safer alternative to opioids for peri-operative pain, and a GI-protective alternative to low-dose aspirin. The Company’s next target is inflammatory bowel disease (“IBD”), a condition long in need of safer, more effective therapies. Learn more at antibethera.com.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, the proposed 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 wording. 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 inability to secure additional financing and licensing arrangements on reasonable terms, or at all, 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 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.
