Antibe Therapeutics Appoints New Board Chair and Corporate Vice Chairs
25 Mai 2022 - 01:00PM
Business Wire
Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical
stage company leveraging its hydrogen sulfide platform to develop
next-generation safer therapies that target inflammation, is
pleased to announce the appointment of Robert E. Hoffman, a
Director of Antibe, as the new Chair of its Board of Directors. The
Company is also creating two corporate Vice Chair positions to
recognize the contributions of Walt Macnee, the outgoing Chair, and
Dr. John L. Wallace, Chief Scientific Officer and Director since he
founded the Company. As Vice Chairs, they will occupy an esteemed
corporate position, providing ongoing counsel to the Company on key
business initiatives; Antibe is pleased to note that they will both
continue to serve on its Board of Directors. Dr. Wallace is also
taking the opportunity to return to his vocation as a research
scientist, with a continued focus on enriching the Company’s
pipeline.
“These changes mark a new era for Antibe,” noted Mr. Macnee, the
Company’s outgoing Board Chair. “In 2013, when John invited me to
replace him as Chair, concerns about opioids were just breaching
public consciousness. I was excited to join a world-renowned
scientist to build a company capable of tackling such a challenge.
Today, with otenaproxesul positioned to directly address this
crisis, Robert’s background is a perfect fit for Antibe’s
ambitions, particularly his experience in the acute pain space and
in U.S. capital markets. I’m delighted to pass the baton to Robert
and look forward to working with him as we build a leader in
anti-inflammatory therapeutics.”
A member of Antibe’s Board since late 2020, Robert E. Hoffman is
former CFO of Nasdaq-listed Heron Pharmaceuticals, a commercial
stage drug developer with a recently approved acute pain drug.
During Mr. Hoffman’s tenure, Heron raised more than $650 million
and launched its second commercial therapeutic. His career in the
biotech sector began in 1997 at Arena Pharmaceuticals, where he
rose to become CFO. While at Arena, he was involved with its IPO
and financings raising more than $1.5 billion. For 10 years until
2020, Mr. Hoffman was a member of the Small Business Advisory
Committee of the Financial Accounting Standards Board (“FASB”). He
is currently President, CEO and Chairman of Kintara Therapeutics
(Nasdaq) and a member of the boards of ASLAN Pharmaceuticals
(Nasdaq) and privately held FibroBiologics.
Mr. Hoffman observed, “As their patients wake up in the recovery
room, surgeons routinely prescribe an oral analgesic, generally
used for home recovery too. Despite the opioid crisis, oral
therapeutic alternatives have remained largely unchanged,
reflecting a 20-year lack of innovation in this category. I’m
excited to work closely with Dan and his team in building
shareholder value as otenaproxesul moves closer to market as a
best-in-class drug for acute pain.”
With otenaproxesul’s development well in hand, the Company is
also seeking to unlock additional value from its discovery
pipeline. Antibe is particularly pleased that Dr. Wallace will
focus on exploiting the Company’s hydrogen sulfide platform in new
disease areas. Beyond underpinning the Company’s pipeline, his
discovery of hydrogen sulfide’s crucial anti-inflammatory role has
transformed inflammation science.
Dr. Wallace commented, “I am tremendously appreciative of Walt’s
guidance as Antibe has matured into a clinical stage biotech listed
on a senior North American exchange. Given the ever-growing need
for safer and more effective anti-inflammatory medicines, I am
grateful to our team for transforming a pharmacological concept
into an opportunity to combat the opioid epidemic – and for the
chance to continue as a scientist developing better medicines for
pain and inflammation.”
About Antibe Therapeutics Inc. Antibe is a clinical stage
biotechnology company leveraging its proprietary hydrogen sulfide
platform to develop next-generation safer therapies that target
inflammation arising from a wide range of medical conditions. The
company’s current pipeline includes assets that seek to overcome
the gastrointestinal (“GI”) ulcers and bleeding associated with
nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead
drug, otenaproxesul, is in clinical development as a safer
alternative to opioids and today’s NSAIDs for post-operative pain.
Antibe’s second pipeline drug, ATB-352, is being developed for a
specialized acute pain indication. The company’s anticipated 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 under applicable securities
laws, which may include, but are not limited to, the anticipated
scope, timing, duration and completion of certain of the Company’s
clinical trial programs and studies and the anticipated timing for
seeking market approval for certain of the Company’s drugs and
therapies for certain additional indications. 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 timely execute on its business
strategy and timely and successfully compete its clinical trials
and studies, the Company’s inability to obtain the necessary
regulatory approvals related to its activities, risks associated
with drug and medical device development generally and those risk
factors set forth in the Company’s public filings made in Canada
and available on www.sedar.com. The Company 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220525005356/en/
Antibe Therapeutics Inc. Christina Cameron VP Investor Relations
+1 416-577-1443 christina@antibethera.com
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