HANSAmed Ltd.

- Successful PK/PD study confirms liver safety, sets stage for upgraded Phase II trial launch next month - Phase II trial enhancements include placebo arm, increased sample size and adaptive design - Ended quarter with $25 million in cash and equivalents TORONTO--(BUSINESS WIRE)-- Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical-stage biotechnology company leveraging its hydrogen sulfide platform to target pain and inflammation, has filed its financial and operating results for the fiscal quarter ended December 31, 2023. “The results of November’s successful PK/PD study have empowered us to make considerable enhancements to the Phase II trial,” commented Dan Legault, Antibe’s CEO. “These upgrades may enable it to qualify as pivotal, potentially unlocking value by simplifying and shortening otenaproxesul’s remaining path to approval. Even with these enhancements, the trial remains on track to initiate next month – we’re looking forward to an exciting year.” Business Highlights and Operational Update The following covers fiscal Q3 2024 and subsequent events: Progress for otenaproxesul on formulation, IP and commercial potential On track to launch upgraded Phase II abdominoplasty trial in March 2024; tablets manufactured and preparation of clinical sites in process Phase II trial enhancements include the use of a placebo arm, an increased sample size (300 patient exposures), and the use of adaptive design methodology – these enhancements may enable it to qualify as a pivotal trial for the U.S. FDA Completed first-in-human pharmacokinetic/pharmacodynamic (“PK/PD”) study of faster-absorbing formulation: Strong safety results validated DILIsym liver safety modeling results showing acute pain treatment regimens of the new formulation to be liver-safe (DILIsym is a sophisticated software model widely used to predict liver safety in drug development) Confirmed the new formulation’s linear, dose-proportional kinetics, with substantially lower doses needed to achieve target plasma levels compared to the original formulation More rapid elimination also observed, expanding the drug’s safety envelope Taken together, these results provide the basis for upgrading the Phase II trial Filed and supplemented patent applications, strengthening IP protection for new formulation to 2043 DILIsym program underway to explore potential chronic treatment regimens Corporate Arbitration with Nuance Pharma: the parties have been advised that the decision has been filed and will be released following the completion of remaining administrative matters Antibe named to the 2024 OTCQX Best 50, a ranking of the top performing companies traded on the OTCQX Best Market. Selected from more than 575 companies, Antibe is the only biotech to achieve this designation in the last two years Mayo Clinic-trained neuroscientist and pain researcher, Svetlana Kurklinsky, PhD, hired in the new role of Director of Clinical Science Second guaranteed payment of $875,000 received in accordance with the Citagenix sale agreement Upcoming Milestones The following summarizes the Company’s estimated timeline for its key upcoming milestones for otenaproxesul: Initiate Phase II abdominoplasty trial – calendar Q1 2024 Deliver Phase II abdominoplasty top-line data – calendar Q3 2024 Request End of Phase II meeting with the U.S. FDA – calendar Q4 2024 Financial Results Cash Position: As of December 31, 2023, the Company had available cash balance and term deposits totaling $24.9 million, compared to $27.9 million as at September 30, 2023. Net Loss: For the quarter ended December 31, 2023, Net Loss and Comprehensive Loss totaled $4.2 million ($0.08 per share), a decrease of $0.1 million compared to $4.3 million ($0.08 per share) in fiscal Q3 2023. Research and Development Expenses: Research and development expenses for the quarter, net of research tax credits, amounted to $2.3 million, compared to $2.2 million in fiscal Q3 2023. General and Administrative Expenses: General and administrative expenses were $2.3 million, compared to $2.2 million in fiscal Q3 2023. The Company’s unaudited fiscal Q3 2024 condensed interim financial statements and MD&A are available on SEDAR. About Antibe Therapeutics Inc. Antibe is a clinical-stage biotechnology company leveraging its proprietary hydrogen sulfide 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 nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul, is in clinical development 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. Learn more at antibethera.com. Forward Looking Statements This news release includes certain forward-looking statements under applicable securities laws, which may include, but are not limited to, the anticipated scope, timing, duration and completion of certain of the Company’s clinical trial programs and studies including the Phase II trial and the anticipated timing for seeking market approval for certain of the Company’s drugs and therapies for certain additional indications including chronic pain. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar wording. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s inability to timely execute on its business strategy and timely and successfully complete its clinical trials and studies, the Company’s inability to obtain the necessary regulatory approvals or intellectual property rights related to its products and activities, the timing and outcome of the arbitration decision with Nuance Pharma, risks associated with drug development generally and those risk factors set forth in the Company’s public filings made in Canada and available on sedar.com. The Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

Completed successful PK/PD study for otenaproxesul’s new formulation Phase II initiation on track for upcoming quarter Ended quarter with $28 million in cash and equivalents TORONTO--(BUSINESS WIRE)-- Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical-stage biotechnology company leveraging its hydrogen sulfide platform to develop next-generation therapies to target inflammation, has filed its financial and operating results for the fiscal quarter ended September 30, 2023. “Last quarter capped two years of preparation for otenaproxesul’s successful PK/PD study,” commented Dan Legault, Antibe’s CEO. “With human safety addressed and encouraging PK data in hand, we’re excited to be nearing another inflection point in otenaproxesul’s value and partnering potential. We’re looking forward to the Phase II trial, on track to launch in calendar Q1 2024.” Business Highlights and Operational Update The following covers fiscal Q2 2024 and subsequent events: Progress for otenaproxesul on formulation, IP and commercial potential Completed first-in-human pharmacokinetic/pharmacodynamic (“PK/PD”) study of faster-absorbing formulation, enabling selection of treatment regimens for the upcoming Phase II trial Strong PK/PD safety results validated DILIsym liver safety modeling results showing envisioned acute pain treatment regimens of the new formulation to be liver-safe PK/PD data confirm linear, dose-proportional pharmacokinetics Filed and supplemented patent applications, strengthening IP protection for new formulation to 2043 DILIsym program underway to explore potential chronic treatment regimens Emerging discovery program progressing Filed patent applications covering a family of new anti-inflammatory compounds with effectiveness demonstrated in three animal models; announcement expected in calendar Q1 2024 Corporate Arbitration decision with Nuance Pharma expected in calendar Q4 2023 Dr. Joseph Stauffer, Antibe’s Chief Medical Officer, to chair the USA Clinical Trials Innovation & Outsourcing Programme conference on November 15, 2023 (New York, NY) Second guaranteed payment of $875,000 received in accordance with the Citagenix sale agreement Upcoming Milestones In light of the strong safety and PK data from otenaproxesul’s recent clinical PK/PD study, Antibe is upgrading the design of the upcoming fully-funded Phase II trial. While trial initiation remains set for calendar Q1 2024, the Company now anticipates top-line results in calendar Q3 2024. Financial Results Cash Position: As of September 30, 2023, the Company had available cash balance and term deposits totaling $27.9 million, compared to $34.3 million as at June 30, 2023. Net Loss: For the quarter ended September 30, 2023, Net Loss and Comprehensive Loss totaled $5.0 million ($0.10 per share), a decrease of $1.1 million compared to $6.1 million ($0.12 per share) in fiscal Q2 2023. Research and Development Expenses: Research and development expenses for the quarter, net of research tax credits, amounted to $3.5 million, compared to $3.9 million in fiscal Q2 2023. General and Administrative Expenses: General and administrative expenses were $1.9 million, compared to $1.7 million in fiscal Q2 2023. The Company’s unaudited fiscal Q2 2024 condensed interim financial statements and MD&A are available on SEDAR. About Antibe Therapeutics Inc. Antibe is a clinical-stage biotechnology company leveraging its proprietary hydrogen sulfide platform to develop next-generation therapies to target 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 nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul, is in clinical development 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. Learn more at antibethera.com. Forward Looking Information This news release includes certain forward-looking statements under applicable securities laws, which may include, but are not limited to, the anticipated scope, timing, duration and completion of certain of the Company’s clinical trial programs and studies including the Phase II trial and the anticipated timing for seeking market approval for certain of the Company’s drugs and therapies for certain additional indications. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar wording. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s inability to timely execute on its business strategy and timely and successfully complete its clinical trials and studies, the Company’s inability to obtain the necessary regulatory approvals or intellectual property rights related to its products and activities, risks associated with drug development generally and those risk factors set forth in the Company’s public filings made in Canada and available on sedar.com. The Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law. View source version on businesswire.com: Contacts Antibe Therapeutics Inc. Christina Cameron VP Investor Relations +1 416-577-1443 christina@antibethera.com Source: Antibe Therapeutics Inc. 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Recent animal data on otenaproxesul's new formulation confirm rapid drug uptake and potential for effective pain management Targeting first clinical dose in calendar Q3 2023; Phase II top-line data within 12 months Ended quarter with $42.4 million in cash and equivalents, providing over two years of runway TORONTO--(BUSINESS WIRE)-- Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF), a clinical-stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies to target inflammation, has filed its financial and operating results for the fiscal quarter ended December 31, 2022. "As we prepare for the Phase II bunionectomy trial, we're increasingly excited about the potential of otenaproxesul's new formulation," noted Dan Legault, Antibe's CEO. "Recent animal data have confirmed both its potential for effective pain management at dramatically lower doses and a rapid onset pro suited for acute pain. To de-risk the translation of this data to human doses, we've planned a confirmatory study in healthy volunteers upon release of the new drug tablets. We look forward to delivering Phase II top-line data in the next 12 months." The Company also announced that its founder, Dr. John L. Wallace, has decided to retire from the Board of Directors. Dr. Wallace will remain a corporate Vice Chair, enabling the Company to continue to benefit from his wisdom and expertise. Robert E. Hoffman, Antibe's Board Chair, commented: "From elucidating how today's NSAIDs injure the digestive tract to conceiving our novel hydrogen sulfide platform, John's pioneering science has underpinned our emergence as a publicly traded biotech pursuing a major advance in anti-inflammatory therapeutics. We thank him for his extraordinary service as a Director." Business Highlights and Operational Update Progress for otenaproxesul on formulation and IP Transitioned to faster-dissolving formulation that accelerates onset of action; also enables treatment regimens with lower drug doses, providing additional safety buffer and a potential pathway to address chronic pain indications Filed patent application for new formulation, strengthening IP protection to 2043 Initiated animal de-risking studies for new formulation; saved resources by bypassing previously planned molar extraction clinical study Finalized study design for upcoming pharmacokinetic/pharmacodynamic ("PK/PD") study in healthy volunteers to confirm dose selection for upcoming Phase II bunionectomy trial; PK/PD study anticipated to take 2 – 3 months Results from DILIsym, a sophisticated software model widely used to predict liver safety, suggest that all envisioned acute pain treatment regimens of the new formulation are liver-safe for five-day treatment durations (including ten days post treatment follow up) Retained Klick Health, a leading life science-focused marketing and commercialization agency, to conduct a comprehensive strategic positioning assessment of otenaproxesul for acute pain in the U.S. market; based on the recent third-party commercial assessment projecting U.S. market peak annual sales exceeding $1 billion, the purpose of the current study is to validate the drug’s positioning and formulate a commercial launch strategy to support partnering discussions Continued investigation of alternative formulations and treatment regimens as potential paths forward for chronic pain indications Inflammatory bowel disease program lead selection Completed animal colitis model with positive efficacy results for several potential candidates Lead and back-up candidates selected with patent application filing expected next quarter Corporate Closed the previously announced sale of Citagenix subsidiary in an all-cash transaction involving a guaranteed $3.5 million, divided into four equal payments over three years, with the remaining $4.0 million subject to Citagenix achieving sales milestones over four years (the milestone formula was amended subsequent to the closing, including a one-year term extension and an additional $1.0 million of potential milestone payments; the amendment is available on SEDAR) Upcoming Milestones The following summarizes the Company’s estimated timeline for its key upcoming milestones: Ready tablets of otenaproxesul's new formulation – calendar Q2 2023 Initiate clinical PK/PD study for otenaproxesul – calendar Q3 2023 Initiate Phase II bunionectomy trial of otenaproxesul – calendar Q4 2023 Deliver Phase II bunionectomy top-line data of otenaproxesul – calendar Q1 2024 Financial Results Cash Position: As of December 31, 2022, the Company had available cash balance and term deposits totaling $42.4 million, compared to $54.8 million as at March 31, 2022. This provides the Company with over two years of runway, which includes the cost of the upcoming Phase II bunionectomy trial. Net Loss: For the quarter ended December 31, 2022, Net Loss and Comprehensive Loss totaled $4.3 million ($0.08 per share), an decrease of $0.5 million compared to $4.8 million ($0.0.9 per share) in fiscal Q3 2022. Research and Development Expenses: Research and development expenses for the quarter, net of research tax credits, amounted to $2.2 million, compared to $2.5 million in fiscal Q3 2022. General and Administrative Expenses: General and administrative expenses were $1.6 million for the quarter, compared to $1.3 million in fiscal Q3 2022. The Company’s unaudited fiscal Q3 2023 condensed interim financial statements and MD&A are available on SEDAR. About Antibe Therapeutics Inc. Antibe is a clinical-stage biotechnology company leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies to target inflammation arising from a wide range of medical conditions. The Company’s current pipeline includes assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul, is in clinical development 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. Learn more at antibethera.com. Forward Looking Information This news release includes certain forward-looking statements under applicable securities laws, which may include, but are not limited to, the amounts, timing and receipt of the portion of the Citagenix sale price that is subject to the achievement of sales milestones, the anticipated scope, timing, duration and completion of certain of the Company’s clinical trial programs and studies and the anticipated timing for seeking market approval for certain of the Company’s drugs and therapies for certain additional indications. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar wording. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, Citagenix not achieving sales milestones, the Company’s inability to timely execute on its business strategy and timely and successfully complete its clinical trials and studies, the Company’s inability to obtain the necessary regulatory approvals related to its activities, risks associated with drug and medical device development generally and those risk factors set forth in the Company’s public filings made in Canada and available on sedar.com. The Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law. View source version on businesswire.com: Contacts Antibe Therapeutics Inc. Christina Cameron VP Investor Relations +1 416-577-1443 christina@antibethera.com Source: Antibe Therapeutics Inc. View this news release online at: