MONTREAL, Feb. 16, 2022 /PRNewswire/ - Tetra
Bio-Pharma Inc. ("Tetra" or the "Company") (TSX: TBP) (OTCQB:
TBPMF) (FRA: JAM1), a leader in cannabinoid-derived drug discovery
and development is proud to announce the approval of a $4.5M CDN participative loan from the ministère
de l'Économie et de l'Innovation (MEI) under the BioMed Propulsion
Program, managed by Investissement Québec (IQ). This funding will
support the development of ARDS-003 in the indication of acute
respiratory distress syndrome whether or not it is caused by
COVID-19, as well as in patients with Sepsis.
This transaction is conditional on the approval of all
shareholders and will be subject to a vote at the General Meeting
of Shareholders in May 2022 since it
will require the transfer of our Head Office from the province of
Ontario to the province of
Quebec (already more than 60% of
our personnel reside in Quebec)
and the approval of certain financial terms.
Tetra's strong growth potential in the Life Sciences sector
is recognized by the Government of Quebec.
"Our support of Tetra Bio-Pharma will lead to the development of
medication to treat acute respiratory distress syndrome, such as in
severe cases of COVID-19. Our government will always be there to
support potentially life-changing initiatives for the population,
especially when they contribute to the vitality of the Québec
life-sciences sector and Quebec's
reputation in the field of biotechnology," said Pierre Fitzgibbon, Minister of the Economy and
Innovation and Minister Responsible for Regional Economic
Development.
"Tetra has been the subject of several diligent reviews by the
MEI and IQ, which validates our scientific, financial, and
commercial approach. In addition, the MEI/IQ adheres to the
strategic vision of the team of scientists and managers behind the
development of our products. I know that investors have been
waiting for this announcement for a long time and I am delighted
that it has finally arrived" says Steeve Néron, Chief Commercial
Officer of Tetra Bio-Pharma.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX: TBP)
(OTCQB: TBPMF) (FRA:JAM1) is a leader in cannabinoid-derived drug
discovery and development with a FDA and a Health Canada cleared
clinical program aimed at bringing novel prescription drugs and
treatments to patients and their healthcare providers. Their
evidence-based scientific approach has enabled them to develop a
pipeline of cannabinoid-based drug products for a range of medical
conditions, including pain, inflammation, and oncology. With
patients at the core of what they do, Tetra Bio-Pharma is focused
on providing rigorous scientific validation and safety data
required for inclusion into the existing biopharma industry by
regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
About ARDS-003
ARDS-003 is an immunomodulator drug
aimed at preventing and treating the serious, life-threatening
inflammatory response associated with Sepsis and SARS-Cov-2.
ARDS-003 has more than a decade of research and is the product of
Canadian expertise and ingenuity. ARDS-003 is an optimized sterile
nano-emulsion of a synthetic compound that meets pharmaceutical
quality standards for an intravenously administered drug and has
demonstrated anti-inflammatory, anti-viral and anti-fibrotic
properties.
About the BioMed Propulsion Program
BioMed
Propulsion's goal is to financially support Québec companies in the
life-sciences sector with a high growth potential so that they will
market their research findings. This program is administered by
Investissement Québec as part of the Economic Development Fund,
under the responsibility of the Ministry of the Economy and
Innovation.
Neither the TSX Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements
Some statements in this
release may contain forward-looking information, including
concerning the IQ loan offer and the use of the net proceeds
resulting from the loan, the transfer of the Tetra's head office,
and the growth potential of Tetra. All statements, other than of
historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements regarding
potential acquisitions and financings) are forward-looking
statements. Forward-looking statements are generally identifiable
by use of the words "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project"
or the negative of these words or other variations on these words
or comparable terminology. Forward-looking statements are subject
to a number of risks and uncertainties, many of which are beyond
the Company's ability to control or predict, that may cause the
actual results of the Company to differ materially from those
discussed in the forward-looking statements. Factors that could
cause actual results or events to differ materially from current
expectations include, among other things, without limitation, the
inability of the Company to obtain shareholders approval for the
financial terms of the IQ loan or for the transfer of the Company's
head office, the inability of the Company to fulfill the other
closing conditions provided for in the IQ loan offer, the inability
of the Company to obtain sufficient financing to execute the
Company's business plan; competition; regulation and anticipated
and unanticipated costs and delays, the success of the Company's
research and development strategies, including the success of this
product or any other product, the applicability of the
discoveries made therein, the successful and timely completion and
uncertainties related to the regulatory process, the timing of
clinical trials, the timing and outcomes of regulatory or
intellectual property decisions and other risks disclosed in the
Company's public disclosure record on file with the relevant
securities regulatory authorities. Although the Company has
attempted to identify important factors that could cause actual
results or events to differ materially from those described in
forward-looking statements, there may be other factors that cause
results or events not to be as anticipated, estimated or intended.
Readers should not place undue reliance on forward-looking
statements. The forward-looking statements included in this news
release are made as of the date of this news release and the
Company does not undertake an obligation to publicly update such
forward-looking statements to reflect new information, subsequent
events or otherwise unless required by applicable securities
legislation.
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SOURCE Tetra Bio-Pharma Inc.