Seeks joint venture with Altus Formulation Inc. – a drug formulation and development company with patented technologies
ORLEANS, Ontario, Nov. 27, 2018 (GLOBE NEWSWIRE) — Tetra Bio-Pharma Inc. (“Tetra” or “TBP”), (TSX VENTURE: TBP) (OTCQB: TBPMF), and Altus Formulation Inc. (“Altus”) today announced the signing of a non-binding term sheet (“Term Sheet“) to create a joint-venture to formulate, develop and deliver cannabinoid derived therapeutics for a number of indications. Altus has three distinct drug delivery technologies that will provide Tetra with significant strategic advantages over the competition. These include IntellitabTM abuse deterrent technology, FlexitabTM breakable sustained release tablet technology and SmartCelleTM nano-technology. SmartCelle’s ability to enhance the solubility of our THC and CBD products permits increased oral absorption and enables parenteral delivery. All platforms are protected by patents in force globally.
The Proposed Joint-Venture will provide Tetra Bio-Pharma with:
- Increased intellectual property protection for products developed under the joint venture;
- Access to abuse deterrent technology to minimize non-medical use of cannabinoids;
- An enhanced development pipeline addressing new therapeutic areas;
- Opportunities for disease-appropriate delivery including intranasal and intravenous delivery; and
- Increased oral drug absorption with immediate and extended release products.
Dr. Guy Chamberland, CEO and CSO of Tetra Bio-Pharma stated, “We are extremely excited about the creation of this joint venture as Altus brings many advantages to the table that will benefit our patients, their care providers and add tremendous value to the products being developed together. Their drug delivery technology will significantly strengthen our intellectual property portfolio.”
The White House Executive Office of the President of the United States along with several U.S. Federal agencies are encouraging pharmaceutical manufacturers to develop abuse-deterrent technologies. The Altus intellectual property will allow Tetra to bring formulations containing THC to market with a product label that clearly indicates its abuse-deterrence feature.
“This will be a major breakthrough for marketing THC drugs with opioid reduction claims at a time when society and the medical community are battling the epidemic abuse of opioids,” said Dr. Chamberland.
“We were highly impressed by Tetra’s science-driven approach to cannabinoid research and their proven ability to develop valuable medicines in this largely untapped new space,” said Dr. Damon Smith, CEO of Altus Formulation. “We greatly look forward to working with them and to bringing a range of life-changing new products to our patients.”
About Altus Formulation Inc.
Altus Formulation is a Quebec based drug formulation and development company using its proprietary and patent protected drug delivery technologies to generate novel, differentiated and cost effective new products for its partners and their patents. With a focus on safer to use formulations, Altus’ technologies also include SmartCelle technologies for intravenous or oral delivery of low solubility large and small molecules.
For more information, please visit www.altusformulation.com
About 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 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 success of this joint venture, 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 Altus Formulation Inc.
For further information, please contact Tetra Bio-Pharma Inc.
Executive Vice-President Corporate Development and Licensing
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Source: Tetra Bio-Pharma Inc