>> Tetra Bio-Pharma, Altus creates new company << TETRA BIO-PHARMA AND ALTUS FORMULATION FORM NEW COMPANY "TALLC" TO EXPLOIT TA-A001
Tetra Bio-Pharma Inc. and Altus Formulation Inc. have launched TALLC Corporation Inc., a new Quebec company focused on the development of TA-A001, a novel endocannabinoid CB2 receptor activator with potent anti-inflammatory analgesic properties.
With initial funding provided from Altus and Tetra, and under a new Board headed by Paladin co-founder Mark Beaudet, TALLC will develop TA-A001 as a first in class intravenous analgesic for the $4bn surgical pain market where its novel mechanism, fast onset and long duration can provide an alternative to opioid medications and NSAID drugs. TALLC will also develop TA-A001 as a topical micellar eye drop for ocular pain and dry eye disease another multibillion-dollar market dominated by drug reformulations. By treating the chronic inflammation underlying the disease TA-A001 has the potential to bring lasting relief to the millions of patients in North America suffering this debilitating condition.
Damon Smith, Founder and CEO of Altus Formulation commented: "There were about 70 million surgeries performed in North America last year. Despite their well-known deficiencies, opioids were still the most widely used painkillers because there is no real alternative. TA-A001 has the ability to address this issue head-on by controlling the pain and ongoing inflammation without the addictive properties and side-effects of other drugs. Addiction, to our computer screens, is now making painful dry eyes a growing concern. The anti-inflammatory and analgesic properties of TA-A001 can provide a way back from this chronic condition in the form of a simple to use eye drop. Forming TALLC, separate from Altus or Tetra allows focussed and efficient development of this important new molecule.
Guy Chamberland, CEO and CRO of Tetra added: "TA-A001 is a proprietary New Chemical Entity (NCE) that we have been studying for a number of years. I believe its unique mode of action provides a high probability of success (POS) as an anti-inflammatory analgesic and that our multiple issued and pending patents will provide many years of protection. I am glad that TALLC is now operational and believe it will deliver great value for its shareholders".
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.