Antibe Therapeutics, Inc.

CALGARY, ALBERTA--(CCNMatthews - Feb. 7, 2006) - Antibe Therapeutics Inc. is pleased to announce that it has received a $500,000 Phase 3 Technology Commercialization Award from the Alberta Heritage Foundation for Medical Research (AHFMR). The funds will be used to advance Antibe's lead drug, ATB-429, to phase I clinical trials. This drug is being developed for the treatment of inflammatory bowel disease (Crohn's disease and ulcerative colitis). The first clinical trial of ATB-429 is scheduled to begin in Q3 of 2006.

Antibe's development strategy is to improve existing drugs by incorporating immunomodulatory components into their molecular structure, generating new, fully patent-protectable chemical entities with predictable toxicity and effectiveness profiles. This approach is underpinned by a unique biotechnology platform, enabling the efficient development of improved versions of a range of drugs presently on the market. The Company's lead drug is a derivative of mesalamine (5-aminosalicylic acid).

Mr. Daniel Legault, President and CEO of Antibe Therapeutics commented, "This award from AHFMR represents strong third party validation of ATB-429, and of our drug development program as a whole. We look forward to initiating our clinical trials, which are designed to rapidly establish proof-of-concept of this product in humans. We are pleased that the AHFMR has chosen to support this innovative drug development program."

About AHFMR:

AHFMR's Technology Commercialization (TC) program assists Alberta innovators with the transfer of new ideas and scientific findings into successful commercial health-related products and services. Since 1985, the TC program has supported over 240 people and projects for over $20 million.

About Antibe:

Antibe Therapeutics is a privately held, early stage drug development company with offices in Calgary and Toronto, and with affiliate laboratories in the USA, United Kingdom, Italy and Brazil. The Company's pipeline consists of drugs targeting serious chronic diseases, characterized by inflammation, pain and vascular dysfunction.

For additional information, please visit www.antibe-therapeutics.com.