Antibe Therapeutics, Inc. (Otc) (TSE:ATE) has released an update.
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Antibe Therapeutics has faced a setback as the Singapore International Arbitration Centre ruled in favor of Nuance Pharma, revoking a license agreement for otenaproxesul in Greater China and mandating Antibe to refund an upfront payment of $20 million plus $4 million in interests and costs. Despite disagreeing with the ruling, Antibe’s CEO acknowledges the binding nature of the arbitration and emphasizes the company’s commitment to advancing otenaproxesul, buoyed by promising clinical data for acute pain treatment. The company is now reassessing its 2024 plans, including possible adjustments to its development and milestone timelines.
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