On June 30, 2020, Antibe Therapeutics Inc. (“Antibe”) (TSXV: ATE) announced that it closed its previously announced bought deal public offering of units (the “Units”) raising aggregate gross proceeds of $28,750,000 (the “Offering”). Each Unit was comprised of one common share and one-third of one common share purchase warrant.
Antibe was represented by WeirFoulds, with a team consisting of Rob Eberschlag, David Knight, Conor Dooley, Aashima Singh, Alvin Yau, Ryan Morris and Ann Lattanzio.
Antibe develops safer, non-addictive medicines for pain and inflammation. Its technology involves linking a hydrogen sulfide-releasing molecule to an existing drug to produce a patented, improved medicine. The Company intends to use the net proceeds of the Offering to fund certain activities required to support large market partnering and begin the Phase 3 program for ATB-346, for business development activities, for advancing the other drugs in the Company’s pipeline including ATB-352, as well as working capital and general corporate purposes.
WeirFoulds is pleased to have assisted Antibe in the closing of their largest financing to date.
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