OTTAWA, ONTARIO--(Marketwired - Oct. 18, 2017) - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSXV:TBP) (OTC:TBPMF), a global leader in cannabinoid-based drug development and discovery, today announced that it will start promoting a co-developed medical cannabis blend product under Access to Cannabis for Medical Purposes Regulations (ACMPR). Tetra has signed a distribution agreement with its trusted partner Aphria to sell Rx Princeps™, its unique blend of dried medical cannabis used in its PPP0001 clinical trials. Production of Rx Princeps has been initiated and will be available to patients in the coming weeks.
Rx Princeps™ will be a new option for doctors who want to prescribe medical cannabis, while ensuring that their patients will receive a consistent and 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, thereby complying with the quality standards Tetra wants to bring to the medical community and its patients.
Rx Princeps™ will be a new therapeutic option not only for the 19% of adults who suffer from chronic pain in Canada, but also for the more than 200,000 patients already registered under the ACMPR program. 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 prepared to enter this lucrative market.
"Our objective is to position ourselves as the reference for the medical community in the prescription of medical cannabis, and gain our growing share of that market in the years to come. We believe that we are bringing additional value to patients, physicians and other key healthcare professionals involved in treating at-need patients. We are ready to launch our first medical product, and we couldn't be more pleased to do it with a partner such as Aphria, which has demonstrated their commitment to our vision of offering a medical product of the highest quality. Our team is dedicated to make this part of our business a very successful one, bringing value to our investors in the process. Being able to generate revenue to support our operations is an important step for Tetra Bio-Pharma," says Bernard Fortier, CEO of Tetra Bio-Pharma.
About Rx Princeps™:
Rx Princeps™ 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™ 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.
Rx Princeps™ will be available across Canada, through Aphria's customer service, for patients who have a prescription from their physicians.
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada, Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. Aphria is committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders.
About Tetra Bio-Pharma:
Tetra Bio-Pharma (TSX VENTURE:TBP)(OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and clinical development. Tetra is focusing on three core business pillars: clinical research, pharmaceutical promotion and retail commercialization of cannabinoid-based products.
More information at: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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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, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, 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. 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.