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Antibe Therapeutics is ready for a big push as it progresses pain management drug through clinical trials

Snapshot

The company is developing a platform of unique drugs designed to prevent serious gastrointestinal damage and bleeding caused by chronic use

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Quick facts: Antibe Therapeutics Inc

Price: 0.42 CAD

TSX-V:ATE
Market: TSX-V
Market Cap: $113.49 m
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  • Proprietary hydrogen sulfide technology poised to significantly change the way pain and inflammation is treated 
  • Lead drug ATB-346 has proven to reduce ulcer-causing inflammation compared to naproxen 
  • Phase 2B study underway with results expected in late 2019 

What Antibe Therapeutics does: 

Antibe Therapeutics Inc (CVE:ATE) (OTCMKTS:ATBPF) has an ambitious vision to deliver game-changing therapeutics for pain and inflammation. 

The biotechnology company is developing a platform of unique drugs designed to prevent serious gastrointestinal damage and bleeding caused using non-steroidal anti-inflammatory drugs known as NSAIDs, which are currently the primary therapy for pain relief. 

It's lead drug, ATB-346, is targeting acute and chronic pain associated with osteoarthritis. Currently in Phase 2 trials, the drug is a naproxen-derivative that has been shown to deliver pain relief with significantly less gastrointestinal damage than typical NSAID usage. 

CEO Dan Legault is an entrepreneur with extensive experience leading early-stage companies. He joined Antibe in 2005 and assembled an expert team of advisors and board members over the last 14 years, including pharmacologist Dr. Louis Ignarro, a Nobel laureate for his work in demonstrating the signalling properties of nitric oxide. 

With clinical results to back up the science and the expertise to advance the company, Antibe is ready to take on the global NSAID manufacturers. 

NSAIDs are among the most widely used drugs in the world, but the side effects of repeated usage can be intense and ultimately debilitating. 

Most NSAIDs are known by their commonly-used brand names like naproxen (Aleve), ibuprofen (Advil) and Asprin. 

According to information provided by Antibe, global NSAID sales top $11 billion annually. Of the 16 drugs to reach $1 billion in sales in the first year on the market, two were for GI-toxicity issues related to NSAIDs. Pharmacia’s Celebrex achieved US$2.3 billion its first year of sales, followed closely by Merck’s Vioxx, which sold around US$1.5 billion. 

ATB-346 targets mild to moderate pain relief that arises from a range of conditions, designed to deliver both gastrointestinal and cardiovascular safety with non-addictive pain relief. The drug is a unique anti-inflammatory that releases hydrogen sulfide, which unlike other NSAIDs does not cause GI damage and has no significant effect on blood pressure. 

The biotech firm is also advancing ATB-352 for post-operative pain and ATB-340, a low-dose aspirin derivative. 

How is it doing: 

Over the summer Antibe revealed that it is in discussions with global partners in order to monetize its drug pipeline for the large pharmaceutical markets. 

Given the strength of existing clinical results and upcoming results from its Phase 2B trials, CEO Dan Legault said the company is “well-positioned” to deliver high-value partnerships. 

The company's Phase 2B efficacy study has a total of 360 patients across 35 clinical sites, in "one of the largest clinical studies ever undertaken in Canada," noted the firm. The company says a successful trial will validate the best-in-class status of the drug in a US$11 billion drug category and could set the stage for global partnering activity. 

Assuming the results are positive, Antibe expects to be in a position to execute a series of regional and global licensing deals. 

Citagenix Inc, its commercial asset in regenerative medicine, is seeing strong growth as it continues its US expansion. Sales in the United States were up 62% year-over-year in fiscal 2019 and the company says it is seeing the growth rate accelerate currently. 

During its fiscal first quarter, the company reported results showing an increase in revenue thanks to higher sales in the United States. 

For the three months ended June 30, 2019, the biotech company said its revenue from product sales increased to C$2.8 million, up from C$2.5 million a year earlier. 

At the end of June, Antibe had cash on its books of C$3.963 million, down from C$5.993 million as at March 31, 2019. 

Inflection points: 

  • Topline data readout from Phase 2B clinical trials anticipated in 4Q 2019 
  • Commencement of Phase 3 trials 
  • Advancing ATB-352 and ATB-340 through development pipeline 
  • Further market penetration for Citagenix in the US 

What the boss says: 

CEO Dan Legault told Proactive in July that the company is ready for a big push as it advances ATB-346.

“There’s no question that this is an exciting time for us,” Legault said. “We've been performing very well over the past several years. It’s a long road because we’re developing a blockbuster drug, but the end is in sight now as we approach the conclusion of Phase 2.” 

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Antibe Therapeutics is looking to the future after successful past year

Antibe Therapeutics  (CVE:ATE-OTCQB:ATBPF) CEO Dan Legault joined Steve Darling from the Proactive Investors Toronto studio to discuss his recent letter to the shareholders in which he outlined the company’s last year. Legault also talked about the year ahead and the prep work they...

on 07/04/2019

4 min read