Tetra Bio-Pharma and Altus Formulation Sign Joint Venture Agreement for Cannabinoid Drug Product Development
OTTAWA, April 29, 2019 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc. (“Tetra” or “TBP”), (TSX VENTURE: TBP) (OTCQB: TBPMF), and Altus Formulation Inc. (“Altus”) today announced the signing of a Joint Venture Agreement under which the two companies will work together to develop a series of cannabinoid-receptor targeted therapeutics addressing multiple areas of high unmet need.
The Joint-Venture will synergize the capabilities of the two companies:
- Products: The companies have identified product candidates in the fields of pain, oncology and ophthalmology, addressing a total market size of over $10BN. (Source: MedTrack™)
- New Routes of Administration: Altus’ SmartCelle™ insoluble drug delivery platform enables intravenous, topical, intra-nasal and oral delivery. Smartcelle’s™ proven ability to enhance the solubility of cannabinoids permits increased oral absorption and enables low volume parenteral and transmucosal delivery. Intellitab™ and Flexitab™ technologies will deliver Safer to Use™ products to patients.
- New Intellectual Property: Altus’ distinct drug delivery technologies provide Tetra with significant strategic advantages over the competition and will enable Tetra to significantly improve some of the current products under development. In addition to SmartCelle™ these include Intellitab™ abuse deterrent technology platform and, Flexitab™ breakable sustained release tablet technology for enhanced dosing flexibility. All platforms are protected by patents enforced globally.
- Commercial Development, Manufacturing and Supply. Combining Altus and Tetra capabilities ensures these essential parts of the value chain are addressed early and efficiently.
Dr. Guy Chamberland, CEO and CSO of Tetra stated,
We are extremely excited about finalizing this agreement which will enable us to improve existing products and will allow us to exploit a number of different delivery mechanisms including Intra-Nasal, Intravenous and Oral Sustained Release Tablets. Furthermore, Altus’ technology will play a key role in strengthening Tetra’s Intellectual Property for its product portfolio. This newly created joint-venture will also serve to benefit our patients, their care providers and help us in our quest to replace the use of opioids
Damon Smith President and CEO of Altus Formulations Inc. added,
We believe that by targeting cannabinoid receptors we open up a range of therapeutic pathways unaddressed by today’s medications. Whether alone or in combination, we believe such medications can provide great value to patients, not least to those suffering the blight of undertreated pain. By combining our capabilities and focusing our resources to generate the right drug for the right patient, the Tetra/Altus joint venture overcomes many of the hurdles that have dogged cannabinoid medicine commercialization in the past. We greatly look forward to working with the Tetra team and to bringing these products to the market.
About Altus Formulation Inc.
Altus Formulation is a Quebec based drug formulation and development company using its proprietary and patent protected drug delivery technologies to generate novel, differentiated and cost-effective new products for its partners and their patients. With a focus on Safer to Use™ formulations, Altus’ technologies include Intellitab™ abuse deterrent technology, Flexitab™ breakable extended release tablets and SmartCelle™ technologies for delivery of low solubility large and small molecules.
For more information, please visit www.altusformulation.com
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 Health 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.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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