Ms. Christina Cameron reports

ANTIBE PROVIDES UPDATE ON CCAA PROCEEDINGS

Antibe Therapeutics Inc. sought an extension of its previously announced stay of proceedings under the Companies' Creditors Arrangement Act at a hearing before the Ontario Superior Court of Justice (Commercial List) on April 18, 2024.

The court has reserved its decision and extended the stay pending release of the decision. The company is requesting to extend the stay until May 24, 2024, in order to be able 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 and to determine appropriate next steps.

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.