Antibe Therapeutics to file application for initial order under CCAA

Antibe Therapeutics announced that it intends to file an application today with the Ontario Superior Court of Justice for an Initial Order under the Companies’ Creditors Arrangement Act, CCAA. The application seeks an order that would, amongst other things, stay any action by Nuance Pharma to enforce the previously announced confidential ruling from the Singapore International Arbitration Centre requiring Antibe to pay approximately US$24 million to Nuance and would also enable the Company to continue engaging with the U.S. Food and Drug Administration with respect to the previously announced hold on the Company’s planned Phase II trial.