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OTTAWA, ONTARIO -- (Marketwired) -- 08/31/17 -- Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX VENTURE: TBP) (OTCQB: TBPMF), today announced that it will benefit from the intellectual property (IP) created within the cannabis health research Chair (The Chair) from the University of New Brunswick (UNB). The Corporation also provided a corporate update.
As part of the 5-year commitment from Tetra and the New Brunswick Health Research Foundation (NBHRF) to The Chair, Tetra will be offered the IP that will be created by The Chair. This important clause in the collaboration with UNB and NBHRF will enable Tetra to obtain licenses from the UNB based on the IP that will be generated from The Chair.
"The strategic importance that is being placed by the government of New-Brunswick through the NBHRF, as well as UNB itself, to the legitimization of the field of medical cannabis is of great importance for the health of Canadians," said Bernard Fortier, CEO of Tetra Bio-Pharma. "Tetra shares the same values in terms of gaining a greater and more objective understanding of the medical benefits that can be brought about by cannabinoids, which are key components of the active ingredients found in cannabis. The more research is done, like the one that The Chair is supporting, as well as Tetra's clinical research aimed at bringing novel drugs and treatments to both humans and animals, the faster treatments will be made available to improve the quality of life of patients around the world."
The Chair extends UNB's commitment to research and innovation in the field of natural product and biomedical, health and life sciences. Of particular interest to Tetra with regards to its current clinical development plans are the research areas of biochemistry, medicinal chemistry and analysis of cannabis, as well as preclinical pharmacology. These research areas can lead to further drug development for Tetra and could increase the number of drug candidates likely to be brought to market and generate a significant revenue stream for the company.
The Corporation would like to update shareholders that the plans to sell its unique and studied blend of dried medical cannabis in the province of New Brunswick under the ACMPR license of its partner, Aphria, remain unchanged. We are working very hard to deploy all the necessary resources, in a highly regulated market, to commence sales in the near term and look forward to keeping shareholders updated on our progress.
About Tetra Bio-Pharma:
Tetra Bio-Pharma (TSX VENTURE: TBP)(OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a clinical program aimed at bringing novel drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries that are engaged in the development of Bio Pharmaceuticals and Natural Health Products containing Cannabis and other medicinal plant based elements.
Tetra Bio-Pharma is focused on combining the traditional methods of medicinal cannabis use with the supporting scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies. More information is available about the company at: www.tetrabiopharma.com.
Source: Tetra Bio-Pharma
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, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence 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, 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.Contacts: Edward Miller Vice President, IR & Corporate Communications (514) 360-8040 Ext. 203 NEXT ARTICLE
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