OTTAWA, May 04, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX-V:TBP) (OTCQB:TBPMF), and Azevedos Indústria Farmacêutica, S.A. announced that they have signed a binding term sheet for the marketing and distribution of PPP001 in Portugal. This binding term sheet will pave the way towards signing a Definitive Distribution Agreement.
Tetra is eligible to receive an upfront payment, milestone payments and will be paid a share of the profits generated by the sales of PPP001 in Portugal. Azevedos will also be responsible for registering the product, as well as all marketing and distribution in Portugal.
“We are honored to partner with Azevedos, a company established in 1775, rich in tradition, and a major player in the Portuguese pharmaceutical market. This Partnership deal provides Tetra with its foray into the European market.” stated Dr. Guy Chamberland M.Sc., Ph.D., Interim CEO and Chief Scientific Officer.
“These partnerships are very important for Azevedos Indústria Farmacêutica and mean that international entities recognize our history, values, work and our technology know-how. Although having a long past, Azevedos is a pharmaceutical company turned to the future and focused on new challenges”, says Thebar Miranda, CEO of Azevedos Indústria Farmaceutica, S.A.
About PPP001
On April 4, 2018, Tetra officially started the Phase 3 trial for PPP001 indicated for terminal stage cancer patients with a goal to improving the quality of life of these patients as well as minimizing their pain. PPP001 is being developed to be the first smokable cannabis product for advanced cancer pain available under prescription.
About Azevedos Indústria Farmacêutica, S.A
Azevedos Group is a two-century Portuguese pharmaceutical brand, whose wide scope of activity ranges from development to distribution, leading manufacturing and exports to more than 60 regulated countries worldwide. Azevedos owns more than 300 MAs for the most relevant therapeutic areas covering all technology forms manufactured at its state of the art plant holding the most recognized certifications.
About Tetra Bio-Pharma: Tetra Bio-Pharma (TSX-V: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. Tetra Bio-Pharma is currently developing a pipeline of five cannabinoid-based products using different delivery systems such as smokable pellets, oral tablets, eye drops and topical ointments.
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, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a license 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, the success of the Company's research 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.
Dr Guy Chamberland, interim CEO and CSO
guy@tetrabiopharma.com
514-220-9225
Robert (Bob) Bechard, MBA, MSc., BA,
Vice-President Finance and Business Development
bob@tetrabiopharma.com
514-817-2514
For media information, please contact:
Daniel Granger
Daniel.granger@acjcommunication.com
ACJ Communication
O: 1 514-840-7990 M: 1 514-232-1556