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Tetra Bio-Pharma Announces Significant Progress on Storz & Bickel Co-Development in Treating Fibromyalgia
ORLEANS, Ontario, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc., a leader in cannabinoid-based drug discovery and development (TSX VENTURE: TBP) (OTCQB: TBPMF), has made significant progress in its co-development partnership with Storz & Bickel. The study protocol has received approval from the Independent Ethics Board (IRB Services) and was recently submitted for review to Health Canada. In addition, Tetra Bio-Pharma expects to complete the identification of every compound in the PPP001 vapor generated by the Mighty Medic vaporizer later this month. Tetra intends on initiating a Phase 1 clinical study in healthy volunteers to determine the safety and pharmacokinetics of its vaporized PPP001 drug later this year.
This clinical data and vapor compound identification will allow Tetra to bridge to its existing and future clinical data of the Phase 3. The bridge will provide a significantly reduced time to market and reduced development cost for the commercialization of PPP001 as a treatment for fibromyalgia.
“The Independent Ethics Board approval represents a major step forward prior to obtaining approval from Health Canada and the clinical study will allow Tetra to accelerate bringing PPP001 for fibromyalgia patients,” stated Dr. Guy Chamberland, Ph.D., Interim CEO and CSO at Tetra Bio-Pharma. “We are very confident in Tetra’s strategy to become a global leader in the development of cannabinoid derived prescription and natural health products.”
About Storz & Bickel
STORZ & BICKEL built the first factory in the world for the manufacture of medical herbal vaporizers in Tuttlingen, Germany, a town with almost 500 medical device manufacturers. Tuttlingen is reputed to be the center of medical technology, where the first factory to produce surgical instruments was established more than 150 years ago.
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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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 approval of PPP001, 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.
Executive Vice-President Corporate Development and Licensing
514-288-8500 ext. 226
416-425-9143 ext. 209