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https://www.stockwatch.com/News/Item?bid=Z-C%3aTBP-2917058&symbol=TBP&region=C

 

Tetra Bio-Pharma and Storz &amp; Bickel Enter into Commercial Sales Agreement for the Mighty Medic Vaporizer

 

2020-06-04 08:00 ET - News Release

 

OTTAWA, ON / ACCESSWIRE / June 4, 2020 / Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSXV:TBP)(OTCQB:TBPMF), a bio-pharmaceutical company engaged in cannabinoid-derived drug discovery and development and Storz & Bickel, a subsidiary of Canopy Growth Corporation, (TSX:WEED)(NYSE:CGC), a world-leading diversified cannabis, hemp and cannabis device company, are pleased to announce that they have finalized a definitive commercial sales agreement for the sale of the Mighty Medic device as part of the CAUMZ™-kit drug-device combination product.

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Today Tetra announces a commercial sales agreement with Canopy to ensure the supply of the medical device component of the CAUMZ™-kit. This Agreement will help us to determine the selling price to pharmacies. This Agreement is critical as the corporation advances in potential partnering discussions with pharmaceutical companies for the sale and distribution of the CAUMZ™-kit drug-device combination product.

Dr. Guy Chamberland, CEO & CRO Tetra Bio-Pharma commented, " First I would like to highlight the strong partnership we have been able to put in place with our colleagues at Storz & Bickel, we expect it to be fruitful for both parties. Day 1, they offered their assistance in financially supporting our CAUMZ™ kit development program by providing us with their Mighty Medic devices for our trials, they have been really open and responsive to our research needs.

On a different note, Tetra is fast advancing on the determination of our CAUMZ™ kit revenue model. I want to reiterate that patients are at the center of what we do, if patients benefit from the CAUMZ™ kit then Tetra will emerge as a market leader in cannabinoid derived medicines and if this materializes, profit will follow, as a result all our patient investors will be rewarded."

The sales agreement will allow Tetra Bio-Pharma to purchase the Mighty Medic from Canopy Growth, subject to the terms and conditions set forth in the Agreement. The Mighty Medic is a Class 2 medical device, approved by Health Canada, and the first battery-powered medical vaporizer to be certified.

As previously announced, the Mighty Medic medical vaporizer has been used in Tetra's research with CAUMZ and QIXLEEF including Phase 1 clinical trials and is being used in the SERENITY©, REBORN© and PLENITUDE© clinical trials. Tetra has performed extensive studies on the vaporization of cannabinoids, terpenes and volatile organic compounds when pure compounds or cannabis products are heated in the Mighty Medic. Tetra and Canopy will collaborate to prepare the data and certifications required to obtain marketing approval for the device component from the US FDA. As a result, the Mighty Medic will also be evaluated as part of the drug approval review process.

"Storz & Bickel has led the cannabis industry in medical device design and manufacturing for twenty years. We're proud to collaborate with Tetra to pursue research that has the potential to improve people's quality of life," said Peter Popplewell, Chief Technology Officer, Canopy Growth and Managing Director, Storz & Bickel.

About Tetra Bio-Pharma

Tetra Bio-Pharma (TSXV:TBP) (OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed and approved, 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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 

For further information, please contact Tetra Bio-Pharma Inc.:

Investor Contact:

Alpha Bronze, LLC
Mr. Pascal Nigen
Phone: + 1 [phone]
[e-mail]

Media Contact:

energi PR
Ms. Carol Levine APR, FCPRS
Phone: + 1 [phone] ext. 226
Mobile: + 1 [phone]
[e-mail]

SOURCE: Tetra Bio-Pharma

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https://www.accesswire.com/592666/Tetra-Bio-Pharma-and-Storz-Bickel-Enter-into-Commercial-Sales-Agreement-for-the-Mighty-Medic-Vaporizer