TORONTO, ONTARIO--(Marketwired - Aug. 30, 2013) - Antibe Therapeutics Inc. ("Antibe" or the "Corporation") (TSX VENTURE:ATE) announced today that Walt Macnee has been appointed as Chairman of the Board of Directors of the Corporation to replace John Wallace, who will continue to serve as a director and Chief Science Officer. Mr. Macnee's appointment was made to ensure that the Chairman position is occupied by an independent director. Antibe thanks Dr. Wallace for his past services as Chairman.
The Corporation also announced that it had entered into a new employment agreement with Daniel Legault pursuant to which Mr. Legault will continue to provide services to the Corporation as President and Chief Executive Officer. Under the terms of the employment agreement, Mr. Legault is entitled to receive the same compensation he previously received pursuant to a professional services agreement dated January 1, 2013, which is no longer in effect. Mr. Legault also serves as the Secretary of the Corporation.
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 Prize-winning medical research highlighting the crucial role of gaseous mediators, which are chemical substances produced in the human body to regulate a range of fundamental cellular processes. The Corporation's drug design methodologies involve 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, the Corporation's methodologies can efficiently produce improved versions of a number of existing drugs. Notably, Antibe's products are themselves fully patent-protectable and 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.