Tetra Bio-Pharma Bolsters Intellectual Property Position and Product Pipeline
November 27 2018 - 6:30AM
Tetra Bio-Pharma Inc. (“
Tetra” or
“
TBP”), (TSX VENTURE: TBP) (OTCQB: TBPMF),
and Altus Formulation Inc. (“Altus”) today announced the signing of
a non-binding term sheet ("
Term Sheet") to create
a joint-venture to formulate, develop and deliver cannabinoid
derived therapeutics for a number of indications. Altus has three
distinct drug delivery technologies that will provide Tetra with
significant strategic advantages over the competition. These
include IntellitabTM abuse deterrent technology, FlexitabTM
breakable sustained release tablet technology and SmartCelleTM
nano-technology. SmartCelle’s ability to enhance the solubility of
our THC and CBD products permits increased oral absorption and
enables parenteral delivery. All platforms are protected by patents
in force globally.
The Proposed Joint-Venture will provide Tetra Bio-Pharma
with:
- Increased intellectual property
protection for products developed under the joint venture;
- Access to abuse deterrent
technology to minimize non-medical use of cannabinoids;
- An enhanced development pipeline
addressing new therapeutic areas;
- Opportunities for
disease-appropriate delivery including intranasal and intravenous
delivery; and
- Increased oral drug absorption with
immediate and extended release products.
Dr. Guy Chamberland, CEO and CSO of Tetra
Bio-Pharma stated, “We are extremely excited about the creation of
this joint venture as Altus brings many advantages to the table
that will benefit our patients, their care providers and add
tremendous value to the products being developed together. Their
drug delivery technology will significantly strengthen our
intellectual property portfolio.”
The White House Executive Office of the
President of the United States along with several U.S. Federal
agencies are encouraging pharmaceutical manufacturers to develop
abuse-deterrent technologies. The Altus intellectual property will
allow Tetra to bring formulations containing THC to market with a
product label that clearly indicates its abuse-deterrence
feature.
“This will be a major breakthrough for marketing
THC drugs with opioid reduction claims at a time when society and
the medical community are battling the epidemic abuse of opioids,”
said Dr. Chamberland.
“We were highly impressed by Tetra’s
science-driven approach to cannabinoid research and their proven
ability to develop valuable medicines in this largely untapped new
space,” said Dr. Damon Smith, CEO of Altus Formulation. “We greatly
look forward to working with them and to bringing a range of
life-changing new products to our patients.”
About Altus Formulation
Inc.Altus Formulation is a Quebec based drug formulation
and development company using its proprietary and patent protected
drug delivery technologies to generate novel, differentiated and
cost effective new products for its partners and their patents.
With a focus on safer to use formulations, Altus’ technologies also
include SmartCelle technologies for intravenous or oral delivery of
low solubility large and small molecules.
For more information, please visit
www.altusformulation.com
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 Health 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
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
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
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 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, the success of this joint
venture, the ability to obtain orphan drug status, 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. 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 Altus
Formulation Inc.Damon SmithCEO514-883-3447
For further information, please contact Tetra Bio-Pharma
Inc.Robert Bechard
Executive Vice-President Corporate Development and
Licensing514-817-2514 Investors@tetrabiopharma.com
Media
Contactenergi PRCarol Levine514-288-8500 ext.
226Carol.levine@energipr.com |
Stephanie
Engel416-425-9143 ext. 209Stephanie.engel@energipr.com |
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