|[May 12, 2014]
Antibe Therapeutics Announces Addition to Its Board of Directors and Grant of Options
TORONTO --(Business Wire)--
Antibe Therapeutics Inc. ("Antibe" or the "Corporation") (TSXV:ATE) is
pleased to announce the appointment of Samira Sakhia (B.Comm., MBA, CPA)
to its Board of Directors. Ms. Sakhia has been the CFO of Paladin Labs
Inc. since 2002, where she is responsible for leading the finance,
operations, human resources, and investor relations teams. Ms. Sakhia
has been a key member of the management team at Paladin and closely
involved in the company's strategy of in-licensing, acquiring products,
and acquiring other specialty pharmaceutical companies in Canada and
abroad. During her tenure, Paladin achieved remarkable growth,
increasing in value from $75 million to over $3 billion in 2014 when it
was acquired by Endo International plc. Prior to joining Paladin, Ms.
Sakhia held several leadership positions at Discreet Logic Inc.
including Controller of North American Operations, Manager of
International Financial Reporting (Montreal, Quebec), and European
Financial Manager (London, England). Prior to working at Discreet Logic,
Ms. Sakhia worked as an auditor at Arthur Andersen & Co. Ms. Sakhia
holds a Bachelor of Commerce degree in Finance and Accounting, and an
MBA in Strategy and Marketing, all from McGill University. In addition,
Ms. Sakhia i a Canadian-designated Chartered Professional Accountant.
Ms. Sakhia was the recipient of the 2014 Aces of Finance Award from the
Quebec Chapter of the Financial Executive Institute of Canada in the
"Financial executive of a small or medium sized enterprise" category.
Walt Macnee, Antibe's Chairman, said "We are delighted to add Ms. Sakhia
to the Antibe Board. Her pharmaceutical industry expertise and financial
acumen will be a tremendous asset to us as we grow."
The Corporation has granted Ms. Sakhia as well as an existing member of
its management team options to purchase a total of 100,000 common shares
of Antibe pursuant to the Corporation's stock option plan. Each option
bears an exercise price of $0.54, being the closing price of Antibe
shares on May 9, 2014, and an expiry date of May 9, 2024. Twenty-five
percent of the options vest on the grant date and 1/36th of
the remaining options vest in each of the subsequent 36 months.
About Antibe Therapeutics Inc.
Antibe Therapeutics Inc. originates, develops and out-licenses
patent-protected new pharmaceuticals that are improved versions of
existing drugs. These improvements are based on Nobel (News - Alert) Prize-winning
medical research highlighting the crucial role of gaseous mediators,
chemical substances produced in the human body to regulate a range of
fundamental cellular processes. The Corporation's drug design approach
involves chemically linking an existing off-patent drug ("base drug") to
an Antibe-patented, hydrogen sulfide-releasing molecule. For medical
conditions characterized by inflammation, pain or vascular dysfunction,
this design approach can efficiently produce improved versions of a
number of existing drugs. Notably, Antibe's products are themselves
fully patent-protectable and may benefit from the predictable toxicity
and effectiveness profiles of the base drug.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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