Antibe Therapeutics Inc (TSX:ATE) (OTCQB:ATBPF) (FRA:4B7), a clinical-stage company leveraging its hydrogen sulfide platform to develop safer medicines for pain and inflammation, wants to unify the intellectual property (IP) ownership of its drugs and platform.
In a statement Friday, the company said it has commenced preliminary discussions to amalgamate with Antibe Holdings Inc.
The company said it believes that such an initiative would unlock value for potential partners and investors, while simplifying IP protection for pipeline expansion efforts now underway.
READ: Antibe Therapeutics strengthens governance and US capital markets expertise with appointments of two independent directors
“As described in our ongoing disclosures, the company was founded with an exclusive license from [Antibe] Holdings,” said Antibe Therapeutics CEO Dan Legault. “Based on this IP, we have achieved human proof-of-concept for otenaproxesul and developed compelling preclinical data for our other pipeline drugs.”
Legault added: "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.”
Toronto-based Antibe is leveraging its proprietary hydrogen sulfide platform to develop next-generation, safer non-steroidal anti-inflammatory drugs (NSAIDs) for pain and inflammation arising from a wide range of medical conditions
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham
