ORLEANS, Ontario, June 29, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc., a leader in cannabinoid-based drug discovery and development (TSX VENTURE:TBP) (OTCQB:TBPMF), today announced that the amendment of the Prescription Drug List (PDL) to include phyto-cannabinoids supports its evidence-based business model. Since early 2016 Tetra’s product development and commercialization strategy followed the exact same pathway as that used in the development of prescription drugs, namely rigorous, independently validated scientific evidence. As a biopharmaceutical company, Tetra’s orientation is to bring cannabis and cannabinoid-based products to market that meet the regulatory quality, safety and efficacy requirements for prescription medications.
Health Canada recently issued a Notice of Intent to Amend the PDL to add phytocannabinoids produced by, or found in, the cannabis plant and substances that are duplicates of such phytocannabinoids. In 2017, Tetra completed a major safety, pharmacokinetic and pharmacodynamic study in healthy human subjects that allowed Tetra to collect significant data to support its marketing applications. A similar clinical development program was launched with cannabis oils in preparation for the upcoming post-legalization market. The combination of safety, pharmacokinetic and efficacy data allows Tetra to bring products to market under the proposed new regulatory framework. Tetra Bio-Pharma is one of a few cannabinoid based companies that is committed to providing much needed clinical data for both its pharmaceutical and natural health products.
Over the coming months Tetra Bio-Pharma will deliver its findings in a series of presentations and scientific articles that will be published in 2018 to share the clinical data of both the inhalation and oral clinical development programs with the medical community, beginning with the July 4, 2018 International Cannabinoid Research Society Meeting in the Netherlands where Dr. Maria-Fernanda Arboleda, MD, will present the results of the above clinical trial. https://www.icrs.co/SYMPOSIUM.2018/ICRS2018.PRELIMINARY.PROGRAMME.pdf). Tetra is a Gold Sponsor of this prestigious congress.
Update on North Bud Farms Inc.
Tetra Bio-Pharma has agreed to provide an extension to North Bud Farms Inc. with regards to the receipt of North Bud’s preliminary and final prospectus. As one of the closing conditions to the sale these documents must now be submitted by July 31, 2018.
About Tetra Bio-Pharma
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.
More information at: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company's research and development strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. While no definitive documentation has yet been signed by the parties and there is no certainty that such documentation will be signed. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
For further information, please contact Tetra Bio-Pharma Inc.
Robert (Bob) Bechard
Executive Vice President, Corporate Development and Licensing
514-817-2514
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