Mr. Dan Legault reports

ANTIBE COMPLETES FIRST CLINICAL STUDY OF OTENAPROXESUL'S NEW FORMULATION

Antibe Therapeutics Inc. has completed the pharmacokinetic/pharmacodynamic (PK/PD) study of otenaproxesul's faster-absorbing formulation for acute pain. The study was designed to confirm the drug's safety and inform treatment regimens for the upcoming phase II trial, on track to launch in calendar first quarter 2024.

The PK/PD study involved 36 healthy volunteers randomized across three treatment arms: a single high dose and two five-day regimens of otenaproxesul. The five-day regimens were chosen to correspond to regimens envisaged for the phase II trial. Subjects remained in-clinic for the duration of their treatment. All subjects completed the study with no clinically significant, drug-related adverse events and no elevation in liver enzymes during treatment or in posttreatment follow-up.

"Today's excellent safety results reflect a significant, multipronged effort by Antibe's team, leading liver scientists and our global manufacturing partner," commented Dan Legault, Antibe's chief executive officer. "We're particularly encouraged by the liver data, which map beautifully to values predicted by Dilisym modelling. By helping de-risk the new formulation, these safety results overcome a key hurdle in otenaproxesul's acute pain development path. We look forward to analyzing and reporting on the PK results next week."

About Antibe Therapeutics Inc.

Antibe is a clinical-stage biotechnology company leveraging its proprietary hydrogen sulphide platform to develop next-generation therapies to target inflammation arising from a wide range of medical conditions. The company's current pipeline includes assets that seek to overcome the gastrointestinal ulcers and bleeding associated with non-steroidal anti-inflammatory drugs (NSAIDs). Antibe's lead drug, otenaproxesul, is in clinical development as a safer alternative to opioids and today's NSAIDs for acute pain. Antibe's second pipeline drug, ATB-352, is being developed for a specialized pain indication. The company's next target is inflammatory bowel disease (IBD), a condition long in need of safer, more effective therapies.

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