- Panag Pharma Inc (Panag), a subsidiary of Tetra Bio-Pharma,
will collect royalties on sales on products produced with the
technology True North has licensed from Panag.
- Use of a highly innovative proprietary liposome encapsulated
technology leads to a better CBD absorption.
- This New True North Nectar product line in liquid and powder
formats are expected to launch in select markets in Q4 2022.
OTTAWA,
ON, May 10, 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 in collaboration
with Panag, a subsidiary of Tetra Bio-Pharma, and True North
Cannabis Corp (True North), today announced it has entered
into a technology licensing agreement allowing True North to use
its highly innovative proprietary liposome encapsulated technology
within formulations distributed under the True North brand.
Tetra's patented technology leads to better absorption and
aqueous emulsification of the CBD molecule in a variety of
products. Panag will work with True North's product team to
integrate this technology and develop a line of hemp-derived CBD
formulations, for True North and its partners to commercialize
through their existing distribution relationships in both the
medical and recreational markets in Canada
About the Technology
In developing these products, the Panag team is using Tetra's
liposome encapsulated technology, a patented process to encapsulate
and protect the active molecules into a multi-layered sphere.
Delivery of the formulation is greatly improved by enhancing the
dispersion of loaded liposomal spheres within an aqueous
(water-based) environment.
"This opportunity is the beginning of a great relationship
between the two companies. Panag has enjoyed working closely with
the True North team and we are very excited at the expansion of our
pipeline with innovative wellness products that fit within their
portfolio, in the competitive and growing CBD market," said
Chris MacLean, COO of Panag
Pharma.
"I am glad that this highly innovative and patented technology
will benefit the wellness market. We are adapting our
pharmaceutical technologies for the benefit of True North
customers," said Steeve Néron, CCO of Tetra BioPharma.
"True North is pleased to have entered into a licensing
agreement with Panag Pharma Inc. to exclusively incorporate their
molecular technology into product formulations distributed under
the True North brand. Panag's patented CBD encapsulation technology
is expected to further differentiate True North's branded product
offering in the highly competitive medical and recreational CBD
product market. True North looks forward to bringing an exciting
array of innovative products utilizing this technology to consumers
across the country," said Brett
Halvorson, President & CFO of True North.
About True North
True North Cannabis Corp. is a
Canadian hemp-based CBD products company. True North and its
partners supply value priced CBD bulk ingredients to licensed
producers across Canada, and
deliver a range of extracted and edible CBD products to patients
and consumers alike through the True North brand. For more
information, please visit www.truenorthcannabis.com.
About Panag Pharma
Panag Pharma Inc. is a Canadian
based bio-tech company focused on the development of novel
cannabinoid-based formulations for the treatment of pain and
inflammation. Panag believes that pain relief should be safe,
non-addictive and above all; effective. The Panag Pharma team of
PhD scientists and medical doctors are among the world's leading
researchers and clinicians in pain treatment and management. They
bring a combined experience of over 100 years in research and
clinical care of people dealing with chronic pain and inflammatory
conditions. Panag's development pipeline of pain relief products
include topical, oral, and ocular delivery solutions for
challenging molecules.
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
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.