Ms. Christina Cameron reports

ANTIBE TO FILE AN APPLICATION FOR AN INITIAL ORDER UNDER COMPANIES' CREDITORS ARRANGEMENT ACT

Antibe Therapeutics Inc. intends to file an application with the Ontario Superior Court of Justice (Commercial List) for an initial order under the Companies' Creditors Arrangement Act (CCAA)

The application seeks an order that would, amongst other things, stay any action by Nuance Pharma to enforce the previously announced confidential ruling from the Singapore International Arbitration Centre requiring Antibe to pay approximately $24-million (U.S.) to Nuance and would also enable the company to continue engaging with the U.S. Food and Drug Administration with respect to the previously announced hold on the company's planned phase II trial.

In addition, Amal Khouri and Jennifer McNealey have resigned from the company's board of directors, effective April 8, 2024. The company thanks both Ms. Khouri and Ms. McNealey for their valuable contributions and wishes them well in their future endeavours.

Additional information

Further updates will be provided as appropriate.

About Antibe Therapeutics Inc.

Antibe is a clinical-stage biotechnology company leveraging its proprietary hydrogen sulphide platform to develop next-generation therapies to target pain and 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 intended 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.

We seek Safe Harbor.