Tetra Bio-Pharma Signs Landmark Commercialization Term Sheet for its Lead Pharmaceutical Product, PPP001, in Israel
OTTAWA, ONTARIO–(Marketwired – April 24, 2018) - Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX VENTURE:TBP) (OTCQB:TBPMF), announced today that the Company has signed a first binding term sheet for the marketing and distribution of PPP001 in Israel with Kamada Ltd., a leading pharmaceutical company. The signing of a Definitive Distribution Agreement is expected to follow shortly. PPP001 is being developed to be the first smokable cannabis product for advanced cancer pain available under prescription.
This first international market commercialization agreement represents a significant milestone and a validation of Tetra Bio-Pharma’s business model with a leading Israel-based pharmaceutical company. Israel, like Canada, is considered one of the world leaders in the production and development of cannabinoid-based products. Kamada is a company with two FDA-approved products and an Israeli-based distribution segment that has demonstrated continued growth. Tetra Bio-Pharma intends to work closely with Kamada as PPP001 advances towards regulatory approval and commercial launch in Israel.
Under the terms of the anticipated final agreement, Kamada will be responsible for registering the product, as well as all marketing and distribution, in Israel. Tetra will be eligible to receive certain milestone payments and an undisclosed percentage of the sales of PPP001 generated by Kamada in Israel.
On April 4, 2018, Tetra Bio-Pharma officially started the Phase 3 trial for PPP001 indicated for terminal stage cancer patients with a goal to improving the quality of life of these patients as well as minimizing their pain. PPP001 is being developed to be the first smokable cannabis product for advanced cancer pain available under prescription.
About Tetra Bio-Pharma: Tetra Bio-Pharma (TSX VENTURE:TBP) (OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and clinical development. Tetra is focusing on three core business pillars: clinical research, pharmaceutical promotion and retail commercialization of cannabinoid-based products. Tetra Bio-Pharma is currently developing a pipeline of five cannabinoid-based products using different delivery systems such as smokable pellets, oral tablets, eye drops and topical ointments. More information at: 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, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a license for the production of medical marijuana; failure 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 strategies, 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.
Robert (Bob) Béchard
Vice President Finance and Business Development
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