Antibe Therapeutics Inc (CVE:ATE) (OTCMKTS:ATBPF) is planning to tackle a US$9 billion market with its lead pipeline drug ATB-352.
The Toronto-based company announced Monday that it is targeting the postoperative pain sector with ATB-352, a potent and non-addictive drug for the treatment of severe pain.
The pharmaceutical company is planning to pursue a Fast Track designation with the US Food and Drug Administration to speed up the analgesic’s development and regulatory approval process.
“The availability of safe and effective non-opioid therapies for post-operative pain is limited and represents a clear unmet medical need,” said Dan Legault, Antibe’s CEO in a statement.
“Post-operative pain is an ideal indication for ATB-352 given its analgesic potency, gastrointestinal safety and lack of abuse potential. This program has the potential to unlock tremendous value for shareholders, while offering a possible solution to the escalating opioid overdose crisis.”
Antibe said in a statement that it will follow a “step-down” therapeutic strategy for ATB-352 to streamline post-operative pain management in both intravenous and tablet forms for long- and short-term use, respectively.
According to the pharmaceutical company, nearly 50 million people annually who undergo surgeries in the US require post-operative pain medication, and 80% of those patients are prescribed highly addictive opioids.
ATB 352 is a derivative of ketoprofen, a potent NSAID for acute pain. Its intended use will be in competition with strong opioids such as fentanyl and oxycontin.
The company expects to conclude pre-clinical studies in 2020.
Antibe's shares eased 1.5% in Toronto on Monday morning to sit at C$0.32 and rose 3% on OTC markets at US$0.24.
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