Antibe Therapeutics Receives $500,000 Commercialization Award from Alberta Heritage Foundation for Medical Research

CALGARY, ALBERTA, February 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 Therapeutics, Inc.

Antibe (pronounced ‘on-teeb ’) Therapeutics (www.antibe-therapeutics.com) is a privately-held early-stage drug development company headquartered in Calgary , Canada with affiliate laboratories in the USA , United Kingdom , Italy and Brazil . The Company's pipeline consists of drugs targeting serious chronic diseases, including inflammatory bowel disease, erectile dysfunction, irritable bowel syndrome, pulmonary hypertension and various complications of diabetes.

Antibe's drug development platform involves the assimilation of small vasoactive/immunomodulatory components to existing drugs to generate new chemical entities that are significantly improved over the parent molecules and/or serve unmet medical needs.

With more than 50 years combined experience in the pharmaceutical and biotech sectors, Antibe's senior management team has a well-defined track record in the development of anti-inflammatory and vasoactive drugs, for which they have received approval from various regulatory boards inclusive of the US FDA.

For further information please contact:

Alain Wilson
Chief Financial Officer
Antibe Therapeutics, Inc
(416) 849-8113