- Tetra is gearing up to launch REDUVO™, its first
cannabinoid-derived medicine, in Canada.
- REDUVO™ 5-year cumulative gross sales expected to reach
$121M.
- The Company has started numerous pre-launch activities to
prepare for the introduction of REDUVO™ on the Canadian
Market.
OTTAWA, ON, Oct. 5, 2021 /PRNewswire/ - Tetra
Bio-Pharma Inc. ("Tetra" or the "Company") (TSX:
TBP) (OTCQB: TBPMF) (FRA: JAM1), a leader in cannabinoid-derived
drug discovery and development announced today that numerous
pre-launch activities for REDUVO™ have been initiated. REDUVO™ is a
cannabinoid-derived drug indicated in chemotherapy-induced nausea
and vomiting (CINV). In December
2020, the Company submitted a New Drug Submission to Health
Canada which is currently in its final stage of review by the
regulator.
The Company is pleased to share that the following activities
have been started or completed:
- Distribution agreement;
- Reimbursement strategy development;
- Customer segmentation and targeting;
- Medical and commercial field team staffing process through a
Contract Sales Organization (CSO); and
- Strategy development and initiation.
Steeve Néron, Chief Commercial Officer of Tetra Bio-Pharma
said "We are now entering in a major transformation
going from a biotech company strictly focused on research into a
biopharma with commercial operations. We remain confident
that REDUVO™ shall receive a Notice of Compliance (NoC) from Health
Canada in the coming months. REDUVO™ will help us create
our Canadian footprint with healthcare
professionals to establish our leading position in
cannabinoid-derived medicines."
Financial impacts:
- 5-year plan (2022-2026) cumulative gross sales are expected to
reach $121M in Canada.
- REDUVO™ will pave the way for the global drug launch of REDUVO™
Adversa® in 2024, a dronabinol administered product
through an innovative mucoadhesive tablet delivery system,
including patent protection.
-
- REDUVO™ Adversa® cumulative global gross sales are
expected to reach $79M by 2026.
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. Our evidence-based scientific approach has
enabled us 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 we 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.
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. 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, 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.