The Joint-Venture will synergize the capabilities of the two companies:
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.
About Tetra Bio-Pharma Inc.
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.
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.
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 success of this joint venture, the ability to obtain orphan drug status, 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. 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.
Pierre Boucher CPA, CMA
Partner, Executive Vice President
514-731-0000 Ext :237
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