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Tetra Bio-Pharma Secures CBD Supply Agreement for Genacol Partnership
ORLEANS, Ontario, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc., a leader in cannabinoid-based drug discovery and development (TSX VENTURE: TBP) (OTCQB: TBPMF), is pleased to announce that it has secured a CBD supply agreement with True North Cannabis in Alberta, Canada. Tetra Bio-Pharma will develop a cannabinoid derived oral capsule and a topical cream for treating joint pain and inflammation which will be commercialized under the previously announced partnership with Genacol.
Tetra Bio-Pharma will use its formulation and regulatory expertise and clinical trial data from its topical cannabinoid and encapsulated cannabis oil (PPP005) trials to create these innovative products for Genacol. Tetra Bio-Pharma will work with the appropriate regulatory agencies to gain marketing authority within Genacol’s international sales network where their brand products are available in more than 40 countries, including Latin America, Europe, Asia, the Middle East, Africa and the United States. In addition, the Genacol trademark is registered in 81 countries worldwide. According to industry statistics the market for topical pain relief products exceeds $2.5 billion. The products are expected to be launched in 2019.
“We are very pleased to secure a competitive supply agreement with True North Cannabis as Tetra is committed on bringing innovative cannabinoid products to market,” says Dr. Guy Chamberland, interim CEO and Chief Scientific Officer of Tetra Bio-Pharma. “True North Cannabis has built a state-of-the-art facility in Alberta which will provide the highest quality CBD for Tetra, at a competitive price, to develop innovative products in partnership with Genacol. Price to consumers is a critical aspect for the viability of a commercial product in the self-care health market. At Tetra Bio-Pharma we are focused on becoming a global leader in the development of cannabinoid derived prescription and natural health products.”
“True North Cannabis is pleased to enter into a commercial relationship to supply hemp-based CBD to Tetra Bio-Pharma,” Shayne Hamilton, Chief Executive Officer of True North Cannabis commented. “Our business leverages the size and scale of the industrial hemp crop in Canada to provide a competitively priced, reliable source of CBD. Tetra Bio-Pharma’s vast experience in pharmaceutical product development, along with Genacol’s robust distribution footprint, presents True North Cannabis a unique opportunity to market our product.”
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
About True North Cannabis
True North Cannabis (TNC) is a Canadian hemp harvest service provider with a core focus on facilitating the supply of bulk, extract-ready, hemp-based CBD.
With a grower-focused service model, TNC supports industrial hemp growers across Canada to effectively commercialize the cannabinoid content from their harvest. By providing access to state of the art infrastructure and hemp chaff expertise, TNC manages the unique challenges in bridging broad acre agriculture and the Cannabis industry.
For more information visit: www.truenorthcannabis.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 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 the success of its natural health products development and commercialization strategies, 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
514-288-8500 ext. 225
416-425-9143 ext. 225