- Announced change in their Drug Development Plan (DDP) priorities.
- This will allow Tetra to rapidly leverage the PANAG pipeline and expertise and align its research programs on indications with unmet medical needs or a higher return on investment (ROI).Â
Last Week’s Agreement to Acquire PANAG Establishes Exhaustive Dermatology and Ophthalmic Product Portfolios
ORLEANS, Ontario, Feb. 07, 2019 – Tetra Bio-Pharma Inc. (“Tetra” or the “Corporation“) (TSX VENTURE: TBP) (OTB: TBPMF), a global leader in cannabinoid-derived drug development and discovery, today announced a change in their Drug Development Plan (DDP) priorities. This will allow Tetra to rapidly leverage the PANAG pipeline and expertise and align its research programs on indications with unmet medical needs or a higher return on investment (ROI). Through an expanded and focused pipeline, the Corporation intends to maintain its position as a leader in cannabis and cannabinoid drug development with a clear objective to generate value for shareholders.  In addition to its DDP in oncology and neuropathic pain programs, Tetra will pursue the development of prescription products in ophthalmic, dermatology as well as other pain segments.
Tetra Bio-Pharma Drug Development Plans address key therapeutic sectors which address the medical needs of millions of patients and represent substantial potential revenue. Priorities are summarized below:
“Immediately following the PANAG closing we held an Executive Team Meeting to prioritize our solid and robust prescription product pipeline and ensure we maintain our lead in the cannabis prescription drug market,†stated Dr. Guy Chamberland, CEO and CSO of Tetra Bio-Pharma. “The products in this pipeline address high potential unmet medical needs, such as uveitis, corneal neuropathic pain, interstitial cystitis, fibromyalgia and glioblastoma. Some of these products will come from PANAG’s pipeline and medical and scientific expertise. These innovative products target disease indications with global unmet medical needs and where we are confident that cannabinoid-derived products can play an important role in alleviating pain, discomfort and associated symptoms.â€
Dr. Chamberland further stated, “The news on Tuesday is a reality in the world of drug development. The safety and wellness of patients is always Tetra’s number one priority. We also kept in mind the importance and responsibility of taking a first cannabinoid drug to the market. Our responsibility was to ensure timely and accurate disclosure of the events subsequent to the results of the mycotoxin analyses of the clinical trial lots which arrived on January 22nd and February 1st. Tetra, and its Executive Team is engaged in a rapid transformational change with the PANAG acquisition which will enable Tetra to mitigate the risk that comes with developing a pharmaceutical drug while creating value for shareholders. As some of our peers have demonstrated, a single approved drug, even for a rare disease indication, can play a significant role in our valuation.â€
Dr. Chamberland goes on to say, “It was my responsibility to rapidly adjust our research priorities while we address the impurity issue and risk to cancer patients. Although our DDP in Advanced Cancer Pain is temporarily suspended, we had been assessing our PPP001 research data and planned to accelerate DDP programs that address more diseases or health conditions with a larger ROI. Down the road this transformation will provide us with a more sustainable and robust product pipeline. The Leadership Team is engaged to stay focused on these research priorities, and rest assured that we will deliver value to our shareholders.â€
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 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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For further information, please contact Tetra Bio-Pharma Inc.
Robert (Bob) Bechard
Executive Vice President, Corporate Development and Licensing
514-817-2514
[email protected]
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