Cannabis Stock News: Tetra Bio-Pharma (CSE:
$TBP) and IntelGenx (TSX VENTURE: $IGX) (OTCQX: $IGXT) Announce the Signing of
a Definitive Agreement for the Development and Commercialization of a
Dronabinol XL Tablet
OTTAWA, ONTARIO - April 3, 2017 (Investorideas.com Newswire)
Tetra Bio-Pharma Inc. ("Tetra") (CSE:TBP) (OTC PINK:GRPOF) and
IntelGenx Corp. ("IntelGenx") (TSX VENTURE:IGX) (OTCQX:IGXT), today
announced the signing of a definitive agreement for the development and
commercialization of a drug product containing the cannabinoid Dronabinol (the
"Product") for the management of anorexia and cancer chemotherapy-related
pain. The U.S. cancer pain market is expected to reach $5 billion in 2018. This
definitive agreement follows the binding term sheet between the two companies
that was announced on February 9, 2017.
Pursuant to the definitive agreement, Tetra has exclusive rights
to sell the Product in North America, with a right of first negotiation for
territories outside of the United States and Canada. Tetra will make an upfront
payment to IntelGenx, in addition to set future milestone and royalty payments,
based on the completion of an efficacy study, approvals from the U.S. Food and
Drug Association ("FDA") and Health Canada, and the commercial launch
of the Product. IntelGenx will be responsible for the research and development
of the Product, including clinical studies, and will develop the product as an
oral mucoadhesive tablet based on its proprietary AdVersa® controlled-release
technology. Tetra will be responsible for funding the product development, and
will own and control all regulatory approvals, including the related
applications, and any other marketing authorizations. Tetra will also be
responsible for all aspects of commercializing the Product.
"We are pleased to announce the closing of the definitive
agreement with IntelGenx and look forward to working very hard with them to
bring this much-needed product to patients suffering from cancer pain,"
said Andre Rancourt, CEO of Tetra Bio-Pharma Inc. "The execution of this
agreement is just the beginning for Tetra as we look forward to aggressively concluding
future agreements as we build a leading bio-pharmaceutical organization focused
on developing medicinal cannabis as pharmaceutical drugs."
"The U.S. cancer pain market is expected to reach $5
billion in 2018, and the quick growing medical cannabis industry is poised to
capture a signature portion of that opportunity," said Dr. Horst G. Zerbe,
President and CEO of IntelGenx. "We are pleased to be working with Tetra
to bring this much-needed cannabinoid product to North American patients
suffering from anorexia and cancer chemotherapy-related pain."
Background
Information:
There are many clinical problems associated with the use of
currently available form of Dronabinol in patients with anorexia and cancer
chemotherapy-related pain. It has been demonstrated that psychoactive drugs
exert their euphoria, and other psychoactive effects, when the blood levels of
the drug rapidly increase. The pharmacokinetic profile of tetrahydrocannabinol
("THC") and its metabolite increases the abuse potential of
cannabinoids like Dronabinol. The significant advantage of an oral mucoadhesive
tablet based on IntelGenx' proprietary AdVersa® controlled-release technology
is that it can be adjusted to achieve a predetermined drug release pattern by
increasing the residence time, promoting intimate contact with the mucosal
tissue and increasing the bioadhesive properties of the dosage form. It is
believed that, by deploying this technology in the controlled-release of THC, a
longer time release of the drug will be achieved and, thereby, a rapid increase
in the blood will be avoided. There will also potentially be improved
bioavailability and reduced gastro-intestinal side effects, making a
sustained-release THC product a promising alternative in the battle for the
reduction of opioids in patients with chronic pain.
About
IntelGenx:
IntelGenx is a leading oral drug delivery company primarily
focused on the development and manufacturing of innovative pharmaceutical oral
films based on its proprietary VersaFilm™ technology platform. Established in
2003, the Montreal-based company is listed on the TSX-V and OTC-QX.
IntelGenx highly skilled team provides comprehensive
pharmaceuticals services to pharmaceutical partners, including R&D,
analytical method development, clinical monitoring, IP and regulatory services.
IntelGenx state-of-the art manufacturing facility, established for the
VersaFilm™ technology platform, supports lab-scale to pilot and
commercial-scale production, offering full service capabilities to our clients.
More information is available about the company at: www.intelgenx.com.
About
Tetra Bio Pharma:
Tetra Bio Pharma is a multi subsidiary publicly traded company
(CSE:TBP) (OTC PINK:GRPOF) 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.
The Canadian Securities Exchange ("CSE") has not
reviewed this news release and does not accept responsibility for its adequacy
or accuracy.
Forward-looking statements
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.
Contact
Information
Tetra Bio-Pharma Inc.
Edward Miller
Vice President, IR & Corporate Communications
edward@tetrabiopharma.com
(343) 689-0714
www.tetrabiopharma.com
Edward Miller
Vice President, IR & Corporate Communications
edward@tetrabiopharma.com
(343) 689-0714
www.tetrabiopharma.com
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