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Antibe Therapeutics Enters into Regional Licensing DealAntibe Therapeutics Inc. ("Antibe" or the "Company") (TSXV: ATE, OTCQX: ATBPF) is pleased to announce today that it has signed an exclusive licensing and distribution agreement with Laboratories Acbel SA ("Acbel") for ATB-346 in Greece, Romania, Serbia, Bulgaria, Albania, Algeria and Jordan. Acbel is a pharmaceutical company with a strong sales and distribution presence in the Balkan region. Antibe will receive an upfront, non-dilutive payment of $1.1 million (€800,000), and is entitled to receive a 5% royalty on net sales of ATB-346 in these countries. The agreement has a 30-year term with contemplated renewals thereafter. Acbel, through its affiliates and partners, is the largest seller of naproxen in this region, which represents approximately 1% of the global market for nonsteroidal anti-inflammatory drugs ("NSAIDs"). The global market for NSAIDs is in excess of US$12 billion (Evaluate Pharma). Antibe's CEO, Dan Legault, commented, "We are delighted to have concluded this agreement with Acbel. By delivering on our regional licensing strategy, Antibe has obtained non-dilutive funds that can be immediately deployed for our ongoing clinical trials. Of perhaps greater importance, this agreement represents an important validation of our drug development program, and its market value, by a leading regional pharmaceutical company well versed in the NSAID market." ATB-346 is a novel anti-inflammatory drug, designed to spare the gastrointestinal tract of the ulcers and bleeding normally associated with NSAIDs. In a recent Phase 2 clinical trial, ATB-346 was found to be highly effective in reducing the pain associated with osteoarthritis of the knee. Antibe will now initiate two larger Phase 2 double-blind trials: a placebo-controlled dose-ranging study to determine the go-to-market dose, and an active comparator tral to demonstrate superior GI safety. Antibe also has two other therapeutic candidates in development: ATB-352 and ATB-340. ATB-352 is a non-addictive analgesic for treating severe acute pain and ATB-340 is a GI-safe derivative of aspirin. Antibe intends to leverage data across its programs to secure licensing agreements whenever possible.
About Antibe Therapeutics Inc. 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.
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