ORLEANS, Ontario, Oct. 15, 2018 (GLOBE NEWSWIRE) — Tetra Bio-Pharma Inc., a leader in cannabinoid-based drug discovery and development (TSX VENTURE: TBP) (OTCQB: TBPMF), today announced the permanent appointment of Guy Chamberland, Ph.D., as CEO and CSO having most recently held the position of CEO in an interim capacity. Dr. Chamberland has more than 23 years’ experience in the development of new drugs in the North American pharmaceutical industry. He worked for more than 10 years as an executive with several biopharmaceutical companies and was a member of the investment committee of a venture capital fund for 7 years. Since joining Tetra Bio-Pharma in June 2016, Dr. Chamberland and his team have accomplished numerous milestones. These include having:
- Built a solid pipeline of five cannabinoid-based therapeutics using a variety of delivery mechanisms focused on a number of different disease indications many representing billion dollar markets;
- Developed an innovative regulatory strategy for each of these products to maximize approval success – thereby rapidly building shareholder value;
- Taking Tetra’s lead product PPP001 from concept to Phase 3 in less than two years and at 20 percent of the cost of a typical bio-pharma company;
- Taken the first smokable product into a Phase I and Phase III clinical trial;
- Structured company activities in three distinct commercial divisions: bio-pharma, natural health and veterinary medicine;
- Negotiated a major supply agreement with a well-established player in the natural health products market; and
- Increased the company’s share price more than 50% since assuming the role of interim CEO.
“We are extremely pleased with the progress that Guy has made since joining the company in 2016 and equally impressed with his accomplishments since being named interim CEO,” stated Tetra Bio-Pharma’s Chairman of the Board, Bill Cheliak. “It is for these reasons that the Board unanimously voted to permanently appoint Guy to the position of CEO, along with his role as Chief Scientific Officer. We look forward to seeing Guy and his team build on the tremendous momentum they have generated thus far and continue to increase shareholder value.”
“I am greatly honored by this nomination as well as by the confidence that the Board of Directors has shown in me,” said Dr. Chamberland. “As the CEO of Tetra Bio-Pharma I am excited and deeply committed to lead our team through the next stages of development. We are confident that our innovative pipeline of cannabis and cannabinoid products will play an important role in improving the lives of patients suffering from a range of chronic and acute pain conditions and have a significant impact in opioid sparing and/or replacement. It is evident that the pharmaceutical pathway that we are championing in order to establish the scientific evidence that regulators, the medical community and payers in Canada, the United States and Europe require in order to approve cannabis-based products is becoming better understood and increasingly welcomed. Our robust activity in the natural health sector further demonstrates our capacity for innovation.”
A bout 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, 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
|Carol Levine||Stephanie Engel|
|514-288-8500 ext. 226||416-425-9143 ext. 209|
Source: Tetra Bio-Pharma Inc