Tetra Bio Pharma Inc (OTCMKTS:TBPMF) and Genacol Canada Corporation have signed a Development and Commercialization agreement. Tetra Bio Pharma is one of the leading cannabis companies specializing in the discovery as well as development of drugs.
Terms of the agreement
Under the agreement, Tetra Bio-Pharma will be in charge of the development and production of a cannabinoid extracted from oral capsule. The company will also produce a topical cream to be used in treating inflammation and joint pain.
On the other hand, Genacol will be in charge of marketing the product and will seek to cover the whole of Canada. Statistics in the industry have shown that the market for relief products used to reduced pain is over $2.5 billion. According to a statement from the two companies, the products will be on the market in 2019.
Tetra Bio-Pharma is banking on its long expertise in the industry plus a databank of information from its clinical trials to produce high quality products for Genacol. In a statement, Tetra Bio-Pharma interim CEO and Chief Scientific Officer Guy Chamberland said it is a big milestone for his company to work with Genacol, a leader in Canada’s cannabis sector. He added that Genacol has a big sales network, which will ensure that the products get enough exposure.
Tetra Bio-Pharma to conduct a clinical trial on PPP001 drug
In other news, Tetra Bio-Pharma has secured an approval from Health Canada to conduct a clinical trial on its PPP001 drug. The drug is being developed as an alternative to opioid fentanyl in reducing cancer pain. The clinical study will be done by Montreal-based Santé Cannabis contract research organization and medical clinic, which mainly focuses on clinical research in the cannabis sector.
The study will seek to determine pain relief products in patients having cancer pains. According to data from previous clinical studies, the company is convinced that PPP001 may be used to develop a novel alternative to opioid fentanyl. This is because of the pharmacodynamic properties of PPP001. In addition, PPP001 is known to have the right time-to-maximal plasma concentrations of THC hence it is effective in pain relief.