Antibe Therapeutics Strengthens Governance and U.S. Capital Markets Expertise With Appointment of Two Independent Directors
Antibe Therapeutics Inc (TSX: ATE, OTCQB: ATBPF), a clinical stage company leveraging its unique hydrogen sulfide platform to develop safer medicines for pain and inflammation, today announced the appointment of Robert E. Hoffman and Jennifer McNealey to its Board of Directors.
“We are delighted to welcome Jennifer and Robert to our team,” said Walt Macnee, Chair of Antibe’s Board of Directors. “Both are highly accomplished biotechnology executives, with significant experience in U.S. capital markets, public company governance and financial operations – all of which will be invaluable to Antibe as we move toward a potential listing on a senior U.S. exchange in parallel with large market partnering efforts.”
Until his retirement last month, Mr. Hoffman was Chief Financial Officer of San Diego-based Heron Pharmaceuticals, a NASDAQ-listed commercial stage drug developer with a pipeline of acute pain therapeutics. During his tenure at Heron, the company raised more than $650 million and launched its second commercial drug product. His career in the sector began in 1997 at Arena Pharmaceuticals, where he rose to become CFO, holding that position for ten years. While at Arena, he was involved with its IPO and financings raising more than $1.5 billion. Mr. Hoffman is currently a member of the boards of three NASDAQ-listed pharmaceutical companies: Kura Oncology, Kintara Therapeutics (as Chairman) and ASLAN Pharmaceuticals; he previously served as a board member for three other publicly listed biotechnology companies. Trained as a Certified Public Accountant, he is a longstanding member of the Small Business Advisory Committee of the Financial Accounting Standards Board (FASB). Mr. Hoffman is also a founding board member of Day for Change, which has funded charities serving underprivileged and abused children in the San Diego area for 20 years.
Mr. Hoffman commented, “I’m excited to join Antibe’s board. The market opportunity for safer, non-opioid pain therapeutics has never been greater. And with otenaproxesul moving into its Phase III program, the company’s strategic opportunities are also expanding. It’s a great time to work with Antibe’s impressive team to capture the full potential of a uniquely promising drug pipeline and platform.”
Ms. McNealey is a senior financial and strategy executive with a considerable breadth of experience in the biotechnology sector, as an analyst, portfolio manager, information provider and expert in corporate communications and investor relations. She is currently Vice President, Investor Relations and Strategy for South San Francisco-based Calithera Biosciences, a clinical stage developer of small molecule oral therapies targeting a range of cancers and other life-threatening diseases. Ms. McNealey began her career as a healthcare equity analyst, transitioning to management of biopharmaceutical-focused investment funds for Morgan Stanley Dean Witter Advisors, Amerindo Investment Advisors and latterly at Franklin Templeton, where she co-managed the Franklin Biotechnology Discovery Fund. She subsequently founded Laurient LLC, an independent equity research and competitive intelligence platform analyzing publicly traded biopharmaceutical companies. Since 2013, Ms. McNealey has served on the board of Enzon Pharmaceuticals. She earned her B.A. and Master of Health Administration degrees from Cornell University.
Ms. McNealey remarked, “The severe shortcomings of today’s pain medications constitute one of the world’s most pressing medical needs. Patients deserve better. Antibe’s novel drug platform is a promising way forward – I am delighted to be a part of it.”
About Antibe Therapeutics Inc.
Antibe is leveraging its proprietary hydrogen sulfide platform to develop next-generation, safer nonsteroidal anti-inflammatory drugs (“NSAIDs”) for pain and inflammation arising from a wide range of medical conditions. Antibe is developing three assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with NSAIDs. Antibe’s lead drug, otenaproxesul (ATB-346), is entering Phase III for osteoarthritis pain. Additional assets under development include a safer alternative to opioids for peri-operative pain, and a GI-safe alternative to low-dose aspirin. Learn more at antibethera.com.
Forward Looking Information
This news release includes certain forward-looking statements under applicable securities laws, which include, but are not limited to, statements about listing on a senior U.S. exchange, large market partnering and the expansion of strategic opportunities. 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", “promises”, “move toward”, “look forward” 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 ability to meet all of the quantitative and qualitative listing criteria to list on a US securities exchange; the Company’s ability to successfully arrange large market partnerships; the Company’s ability to capitalize on strategic opportunities; the Company’s ability to capture the full potential of its drug pipeline and platform, and the other risks identified in the Company’s public filings made in Canada. 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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