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alphatradron Nov 27, 2018 7:43am
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Tetra Bio-Pharma Bolsters Intellectual Property Position
Tetra Bio-Pharma Bolsters Intellectual Property Position and Product Pipeline.
27 November, 2018
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 IntellitabTMabuse 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.