Tetra Bio-Pharma Inc., an innovator in cannabinoid-derived drug discovery and development announced that it has executed a non-binding term sheet with Avicanna Inc. to assess entering into a strategic partnership comprising of three strategic pillars, including:
- The registration and commercialization of Tetra’s various prescription products (REDUVO™ AdVersa®, QIXLEEF™ and CAUMZ™) across Avicanna’s channels in Latin/South America. This opens the door for Tetra to initiate sales earlier than planned.
- Supply of Avicanna’s Active Pharmaceutical Ingredients (APIs) for Tetra’s pharmaceutical pipeline. The phyto-cannabinoid APIs would be sourced from Avicanna’s low cost and sustainable operations in Colombia.
- Co-development and support for Avicanna’s pharmaceutical pipeline for Health Canada and FDA level clinical development and registration.
Steeve Neron, Chief Commercial Officer at Tetra stated, “Tetra will need multiple reliable suppliers of API, like Avicanna, to support QIXLEEF™ operations leading to its successful marketing authorization and global sales and distribution. QIXLEEF™ is Tetra’s proprietary investigational new drug and is currently being evaluation in two U.S. FDA-authorized clinical trials. Additionally, Avicanna’s established distribution channels in Latin/South America may help advance Tetra’s product commercialization in select jurisdictions”.
Aras Azadian, Chief Executive Officer of Avicanna also commented on the opportunity. “We look forward to collaborating with the Tetra team who has in many ways been pioneering cannabinoid- prescription products. As the global industry continues to mature and shift its focus towards evidence-based medicines, the two companies are well positioned to work in synergy across several projects and leverage their leadership positions into fruitful commercial results.”
About Avicanna Inc.
Avicanna is an innovative, commercial-stage, and international biopharmaceutical company focused on the development, advancement, and commercialization of evidence-based cannabinoid-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The Company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development that has led to the commercialization of more than twenty products across four main market segments: Cannabis Raw Materials (API) and feminized Seeds (marketed under the Aureus™ brand), Pharmaceutical Pipeline, Medical Cannabis & Wellness Products and CBD Derma Cosmetic Products.
About Tetra Bio-Pharma
Tetra Bio-Pharma is a leader in cannabinoid-derived drug discovery and development with a FDA and a Health Canada cleared clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. Their evidence-based scientific approach has enabled them to develop a pipeline of cannabinoid-based drug products for a range of medical conditions, including pain, inflammation, and oncology. With patients at the core of what they do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing biopharma industry by regulators, physicians and insurance companies.
