Tetra Bio-Pharma Enters into Binding Proposal with Quantum Pharma Inc.
Company takes a significant step forward to become a fully integrated drug development company
ORLEANS, Ontario, Nov. 20, 2018 (GLOBE NEWSWIRE) — Tetra Bio-Pharma Inc. (“Tetra” or “TBP”), (TSX VENTURE: TBP) (OTCQB: TBPMF), and Quantum Pharma Inc. (“Quantum”) today announced the signing of a binding proposal (the “Proposal“) for exclusive access to a Health Canada licensed facility (i.e., Drug Establishment License; DEL) that enables the company to produce cannabis and cannabinoid drug products for Tetra’s and Panag Pharma’s development activities including the ocular drug formulations. Quantum Pharma owned by Dr. Peter Ford was the GMP manufacturing division of Ford’s Family Pharmacy and Wellness Centre. Their formulation expertise will enable Tetra to develop innovative products for future clinical trials.
The Proposed Transaction is expected to provide Tetra with:
- Exclusive access to a Health Canada licensed facility (DEL) to fabricate cannabis and cannabinoid drug products for Tetra and Panag’s development activities;
- Cannabis and cannabinoid drug product formulation expertise; and
- The ability to manufacture products for all its clinical trials and commercial launches.
Dr. Guy Chamberland, CEO and CSO of Tetra Bio-Pharma stated, “We are very pleased to announce this important development to our shareholders. We have been working with Ford’s Family Pharmacy and Wellness Centre since 2016. Dr. Peter Ford and his team have created several innovative formulations and instruments for the fabrication of Tetra’s prescription drugs. This exclusive agreement not only secures the innovations and production know-how developed for Tetra, but also protects these assets from an acquisition by a competitor. Quantum Pharma will be an exclusive partner to Tetra and Panag enabling us to execute our future planned trials as well as prepare for our product launches.”
Dr. Chamberland further stated, “Tetra has already entered into various agreements to ensure the supply meets the demand for cannabis, THC and CBD-based products with partners including Aphria Inc., True North Cannabis, a USA-based synthetic cannabinoid manufacturer and a phytocannabinoid supplier. With the expected completion of the Panag acquisition, Tetra will become vertically integrated with drug development capabilities that range from discovery all the way through to commercial launch. Our partnerships with Genacol Corporation and Kombucha Baby Brewing Company and its partners provides Tetra with a global sales and distribution platform for the commercialization of OTC drug and wellness products. In addition, Tetra has also established distribution and sales agreements with two pharmaceutical companies for its PPP001 prescription drug 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 Health 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, the successful integration of this acquisition, 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.|
|Executive Vice-President Corporate Development and Licensing|
|Carol Levine||Stephanie Engel|
|514-288-8500 ext. 226||416-425-9143 ext. 209|