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Tetra Bio-Pharma Responds to Shareholders
“Tetra is Not a Cannabis Company” Says CEO Chamberland
ORLEANS, Ontario, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc (“Tetra” or “TBP”), (TSX VENTURE: TBP) (OTCQB: TBPMF) - Recent news regarding Aphria Inc. does not in any way affect Tetra’s business, operations, clinical and drug registration and source of supply. We are well funded to continue these activities in 2019 with plans to expand our clinical activities in the U.S. We remind shareholders that we are not a cannabis company but a bio-pharmaceutical firm.
“It’s important for our shareholders to understand that Tetra is not a cannabis company. We do not grow, or sell cannabis,” said Dr. Guy Chamberland, CEO and CSO of Tetra Bio-Pharma. “Like the internationally recognized GW Pharma, we are a pharmaceutical company that discovers and develops prescription drugs. This strategy is entirely different from the hundreds of licensed producers and it is what makes Tetra completely unique. Our business model has, and will continue to be, to take a pharmaceutical pathway so that cannabinoid-derived drugs are integrated into the regulated healthcare system.”
Tetra Bio-Pharma has made tremendous progress in developing its lead products as prescription drugs and is in a strong financial position to execute on our innovative and robust business strategy. The following are some of the major achievements that have taken place this year and that reflect Tetra’s work as a bio-pharmaceutical innovator:
- Obtained the Drug Establishment License for the manufacturing of PPP001;
- Completed the Type B and C meetings with the U.S. FDA;
- Made a bid to acquire Panag Pharma Inc. and grow its intellectual property;
- Advanced the timing of its filing for PPP001 in Europe;
- Signed two distribution and sales agreements with pharmaceutical companies based in Israel and Portugal for our PPP001 drug product;
- Successfully setup a growing Hemp Energy Drink business and shortly after ordered 1.7 million cans for sales;
- Hired senior pharmaceutical industry talent with depth of experience to oversee operations in a timely, systematic way; and
- Implemented plans to ensure supply of cannabis raw materials thus avoiding back orders on drug or commercial products.
Dr. Chamberland further stated, “Tetra has never been in a stronger position in its history and looks forward to continued execution of its strategy.”
About Tetra Bio-Pharma
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
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.
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 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 Tetra Bio-Pharma Inc.
Robert (Bob) Bechard
Executive Vice President, Corporate Development and Licensing