Tetra Bio-Pharma Pursues Its Research Priorities Accelerating Other Drug Development Plans
February 07 2019 - 2:06PM
Tetra Bio-Pharma Inc. ("
Tetra" or
the "
Corporation") (TSX VENTURE: TBP) (OTB:
TBPMF), a global leader in cannabinoid-derived drug development and
discovery, today announced a change in their Drug Development Plan
(DDP) priorities. This will allow Tetra to rapidly leverage the
PANAG pipeline and expertise and align its research programs on
indications with unmet medical needs or a higher return on
investment (ROI). Through an expanded and focused pipeline,
the Corporation intends to maintain its position as a leader in
cannabis and cannabinoid drug development with a clear objective to
generate value for shareholders. In addition to its DDP in
oncology and neuropathic pain programs, Tetra will pursue the
development of prescription products in ophthalmic, dermatology as
well as other pain segments.
Tetra Bio-Pharma Drug Development Plans address
key therapeutic sectors which address the medical needs of millions
of patients and represent substantial potential revenue. Priorities
are summarized below:
Priorities |
Potential
Indications |
Potential
Market |
1. |
Ophthalmic |
Uveitis, Corneal
Neuropathic Pain & Dry Eyes |
$9.5Bn |
2. |
Dermatology |
Osteoarthritis,
Shingles & Joint pain |
$11.1Bn |
3. |
Oncology |
Advanced Cancer,
Breakthrough, CINV, Glioblastoma |
$9.0 Bn |
4. |
Neuropathic Pain |
Fibromyalgia |
$10.2Bn |
5. |
Other Pain |
Interstitial Cystitis
(painful bladder) |
$1.1Bn |
Total |
|
$40.9Bn |
“Immediately following the PANAG closing we held
an Executive Team Meeting to prioritize our solid and robust
prescription product pipeline and ensure we maintain our lead in
the cannabis prescription drug market,” stated Dr. Guy Chamberland,
CEO and CSO of Tetra Bio-Pharma. “The products in this pipeline
address high potential unmet medical needs, such as uveitis,
corneal neuropathic pain, interstitial cystitis, fibromyalgia and
glioblastoma. Some of these products will come from PANAG’s
pipeline and medical and scientific expertise. These innovative
products target disease indications with global unmet medical needs
and where we are confident that cannabinoid-derived products can
play an important role in alleviating pain, discomfort and
associated symptoms.”
Dr. Chamberland further stated, “The news on
Tuesday is a reality in the world of drug development. The
safety and wellness of patients is always Tetra’s number one
priority. We also kept in mind the importance and
responsibility of taking a first cannabinoid drug to the
market. Our responsibility was to ensure timely and accurate
disclosure of the events subsequent to the results of the mycotoxin
analyses of the clinical trial lots which arrived on January 22nd
and February 1st. Tetra, and its Executive Team is engaged in
a rapid transformational change with the PANAG acquisition which
will enable Tetra to mitigate the risk that comes with developing a
pharmaceutical drug while creating value for shareholders. As
some of our peers have demonstrated, a single approved drug, even
for a rare disease indication, can play a significant role in our
valuation.”
Dr. Chamberland goes on to say, “It was my
responsibility to rapidly adjust our research priorities while we
address the impurity issue and risk to cancer patients. Although
our DDP in Advanced Cancer Pain is temporarily suspended, we had
been assessing our PPP001 research data and planned to accelerate
DDP programs that address more diseases or health conditions with a
larger ROI. Down the road this transformation will provide us
with a more sustainable and robust product pipeline. The Leadership
Team is engaged to stay focused on these research priorities, and
rest assured that we will deliver value to our shareholders.”
About Tetra Bio-Pharma
Inc.
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is
a biopharmaceutical leader in cannabinoid-based drug discovery and
development with a Health Canada approved, and FDA reviewed,
clinical program aimed at bringing novel prescription drugs and
treatments to patients and their healthcare providers. The Company
has several subsidiaries engaged in the development of an advanced
and growing pipeline of Bio Pharmaceuticals, Natural Health and
Veterinary Products containing cannabis and other medicinal
plant-based elements. With patients at the core of what we do,
Tetra Bio-Pharma is focused on providing rigorous scientific
validation and safety data required for inclusion into the existing
bio pharma industry by regulators, physicians and insurance
companies.
For more information visit:
www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-looking statementsSome
statements in this release may contain forward-looking information.
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
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Forward-looking statements are subject to a number of risks and
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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 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 products
mentioned in this release, the applicability of the discoveries
made therein, the successful and timely completion and
uncertainties related to the regulatory process including the
applications for Orphan Drug Designation, 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. While no
definitive documentation has yet been signed by the parties and
there is no certainty that such documentation will be signed. 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.
For further information, please contact Tetra Bio-Pharma
Inc.Robert (Bob) Bechard
Executive Vice President, Corporate Development and Licensing
514-817-2514 Investors@tetrabiopharma.com
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