On February 24, 2020, Antibe Therapeutics Inc. (“Antibe”) (TSX: ATE) announced that it closed a bought deal public offering of 6,727,500 units (the “Units”) raising aggregate gross proceeds of $40,365,000. Each Unit was comprised of one common share and one-half of one common share purchase warrant.
Antibe is leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies to address inflammation arising from a wide range of medical conditions. Antibe’s current pipeline includes three assets that seek to overcome the gastrointestinal ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul (formerly ATB-346), is entering Phase III for osteoarthritis pain. The Company’s next target is inflammatory bowel disease, a condition long in need of safer, more effective therapies.
WeirFoulds is pleased to have assisted Antibe in the closing of this financing.
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