TORONTO, ON- Antibe Therapeutics Inc. reports it has signed an exclusive licensing and distribution agreement with a pharmaceutical company, Laboratories Acbel SA (Acbel), for its lead product ATB-346.
ATB-346 is an anti-inflammatory drug, designed to spare the gastrointestinal tract of the ulcers and bleeding normally associated with NSAIDs.
The agreement covers distribution in Greece, Romania, Serbia, Bulgaria, Albania, Algeria and Jordan. Antibe will receive an upfront, non-dilutive payment of $1.1 million, and is entitled to receive a 5 per cent royalty on net sales of ATB-346 in these countries. The agreement has a 30-year term with contemplated renewals thereafter.
Acbel, through its affiliates and partners, is the largest seller of naproxen in this region, which represents approximately one per cent of the global market for nonsteroidal anti-inflammatory drugs (NSAIDs). The global market for NSAIDs is in excess of US$12 billion (Evaluate Pharma).
“We are delighted to have concluded this agreement with Acbel. By delivering on our regional licensing strategy, Antibe has obtained non-dilutive funds that can be immediately deployed for our ongoing clinical trials,” Antibe’s CEO, Dan Legault, commented.
In a recent Phase 2 clinical trial, ATB-346 was found to be highly effective in reducing the pain associated with osteoarthritis of the knee. Antibe says it will now initiate two larger Phase 2 double-blind trials: a placebo-controlled dose-ranging study to determine the go-to-market dose, and an active comparator trial to demonstrate superior GI safety.
Antibe also has two other therapeutic candidates in development: ATB-352 and ATB-340. ATB-352 is a non-addictive analgesic for treating severe acute pain and ATB-340 is a GI-safe derivative of aspirin. Antibe intends to leverage data across its programs to secure licensing agreements whenever possible.