Tetra Bio Pharma Inc (OTCMKTS:TBPMF) recently announced that it is extending North Bud Farms Inc. These two companies are working together for finalizing a transaction. At its end, Tetra BioPharma has decided to extend its agreement with North Bud Farms so that the latter can get enough time to come up with the final receipt of its prospectus.
Tetra waiting for North Bud to provide final receipt of prospect
One of the important conditions of the sale is that the relevant documents will have to be submitted by the end of this month. Tetra can declare record data and start distributing dividend only after it receives a final receipt of the prospectus of North Bud Farms and fulfills the requirements as deemed mandatory by the Ontario Securities Commission. Tetra will have to announce the record date and start dividend distribution before finalizing shares listing of North Bud Farms Inc.
Tetra Bio Pharma receives approval from Health Canada
Tetra Bio-Pharma is a leading company in biopharmaceutical field with an approval from Health Canada for carrying out research to discover and develop the cannabinoid-based drug. The research programs from Tetra are reviewed by FDA and its clinical program brings novel prescription treatments and drugs to patients as well as to healthcare providers. Apart from the contribution from Tetra as a company, its subsidiaries too contribute in developing an advanced pipeline of Natural Health, Pharmaceuticals, and Veterinary Products that contain medicinal plant and cannabis as a primary element.
Recently the company declared that Health Canada has given approval to its clinical trial currently investigating PP001 drug as an option to opioid fentanyl. This particular drug is used for managing cancer pain. Sante Cannabis, based in Montreal is a contract research organization and medical clinic that is conducting this clinical trial. The organization is specialized in conducting clinical research for marijuana and related therapies.
As per the report, the clinical trial is being carried out for assessing the time of relief patients suffering from breakthrough cancer pain will get. The company is of the opinion that the pharmacodynamic properties present in PPP001 may act faster and as a better alternative to opioid fentanyl.