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Tetra Bio-Pharma Secures CBD Supply Agreement for Genacol Partnership | ||
By: Nasdaq / GlobeNewswire - 05 Sep 2018 | Back to overview list |
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ORLEANS, Ontario, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc., a leader in cannabinoid-based drug discovery and development (TSX VENTURE: TBP) (OTCQB: TBPMF), is pleased to announce that it has secured a CBD supply agreement with True North Cannabis in Alberta, Canada. Tetra Bio-Pharma will develop a cannabinoid derived oral capsule and a topical cream for treating joint pain and inflammation which will be commercialized under the previously announced partnership with Genacol. Tetra Bio-Pharma will use its formulation and regulatory expertise and clinical trial data from its topical cannabinoid and encapsulated cannabis oil (PPP005) trials to create these innovative products for Genacol. Tetra Bio-Pharma will work with the appropriate regulatory agencies to gain marketing authority within Genacol’s international sales network where their brand products are available in more than 40 countries, including Latin America, Europe, Asia, the Middle East, Africa and the United States. In addition, the Genacol trademark is registered in 81 countries worldwide. According to industry statistics the market for topical pain relief products exceeds $2.5 billion. The products are expected to be launched in 2019. “We are very pleased to secure a competitive supply agreement with True North Cannabis as Tetra is committed on bringing innovative cannabinoid products to market,” says Dr. Guy Chamberland, interim CEO and Chief Scientific Officer of Tetra Bio-Pharma. “True North Cannabis has built a state-of-the-art facility in Alberta which will provide the highest quality CBD for Tetra, at a competitive price, to develop innovative products in partnership with Genacol. Price to consumers is a critical aspect for the viability of a commercial product in the self-care health market. At Tetra Bio-Pharma we are focused on becoming a global leader in the development of cannabinoid derived prescription and natural health products.” “True North Cannabis is pleased to enter into a commercial relationship to supply hemp-based CBD to Tetra Bio-Pharma,” Shayne Hamilton, Chief Executive Officer of True North Cannabis commented. “Our business leverages the size and scale of the industrial hemp crop in Canada to provide a competitively priced, reliable source of CBD. Tetra Bio-Pharma’s vast experience in pharmaceutical product development, along with Genacol’s robust distribution footprint, presents True North Cannabis a unique opportunity to market our product.” About Tetra Bio-Pharma For more information visit: www.tetrabiopharma.com About True North Cannabis With a grower-focused service model, TNC supports industrial hemp growers across Canada to effectively commercialize the cannabinoid content from their harvest. By providing access to state of the art infrastructure and hemp chaff expertise, TNC manages the unique challenges in bridging broad acre agriculture and the Cannabis industry. For more information visit: www.truenorthcannabis.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. Forward-looking statements For further information, please contact Tetra Bio-Pharma Inc. Media Contact |
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Copyright 2018 Nasdaq / GlobeNewswire | Back to overview list |