OTTAWA, ONTARIO--(Marketwired - Nov. 16, 2017) - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX VENTURE:TBP)(OTCQB:TBPMF), a global leader in cannabinoid-based drug development and discovery, today announced that Rx Princeps(TM), unique blend of dried medical cannabis used in its PPP001 clinical trials, is now available through licensed producer Aphria Inc. ("Aphria") under Access to Cannabis for Medical Purposes Regulations (ACMPR).
Based on the most recent ACMPR market data from the Government of Canada, it is estimated that the sales of dried medical cannabis in Canada from April 2017 to March 2018 will be over $188M; Tetra is now entering this lucrative market and plans on progressively grabbing a significant share of it over the next two years. Mr Fortier, CEO of Tetra, stated last week "We are expecting to generate around $1.5 million in sales, in fiscal 2018 in our initial launch. Through our promotion and education efforts in Quebec, New Brunswick and part of Ontario, we estimate that over eight thousand patients will start using Rx Princeps(TM) under prescription from their doctors over in the next twelve months."
Rx Princeps(TM) is a new option for doctors who want to prescribe medical cannabis. Prescribing Rx Princeps(TM) with the Rx Princeps(TM) inhalation device enables their patients to optimize the benefits of medical cannabis through the intake of a fixed dose of product, thereby ensuring consistency of treatment with a standardized high-quality product.
Aphria grows and produces medical cannabis under a strict quality management program. Tetra chose Aphria as its partner because their production processes were adopted from the highly restricted and regulated pharmaceutical industry, and go above and beyond cannabis industry regulations mandated by Health Canada. As a result, Aphria's products are in line with the strict quality standards Tetra is establishing for the medical community and its patients.
200,000 patients are already registered under the ACMPR program and around 1.5 million adults in Canada suffer from chronic pain and are considered non-responders to opioids; medical cannabis could be a new therapeutic choice for those patients but physicians need bioavailability and safety data to prescribe medical cannabis with confidence. According to Health Canada, less than 3,000 physicians actually prescribe cannabis to their patients. Tetra is committed to provide them rigorous safety and bioavailability data. Tetra has begun educating pain clinics and the medical profession across Canada on Rx Princeps(TM), including its advantages for patients.
In Quebec, Tetra is working closely with Sante Cannabis in order to educate patients and support them in their medical journey with cannabis. Sante Cannabis is the first cannabinoid clinic and medical marijuana resource centre in Quebec.
About Rx Princeps(TM):
Rx Princeps(TM) is a unique blend of 3 strains of medical cannabis. Its production has been standardized in order to ensure a lot-to-lot consistent composition in its active ingredients (THC and CBD). Rx Princeps(TM) is composed of the same medical cannabis blend used to produce PPP001, which has demonstrated its safety in the Phase 1 clinical trial of PPP001. Patients who want to purchase Rx Princeps(TM) in Canada need a prescription from their physicians and to register with Licensed Producer Aphria.