Tetra BioPharma Signs Second Commercialization Deal with Azevedos Industria Farmaceutica, S.A. for the Lead RX product PPP001
04 May, 2018
OTTAWA, May 04, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX-V:TBP) (OTCQB:TBPMF), and Azevedos Indústria Farmacêutica, S.A. announced that they have signed a binding term sheet for the marketing and distribution of PPP001 in Portugal. This binding term sheet will pave the way towards signing a Definitive Distribution Agreement.
Tetra is eligible to receive an upfront payment, milestone payments and will be paid a share of the profits generated by the sales of PPP001 in Portugal. Azevedos will also be responsible for registering the product, as well as all marketing and distribution in Portugal.
“We are honored to partner with Azevedos, a company established in 1775, rich in tradition, and a major player in the Portuguese pharmaceutical market. This Partnership deal provides Tetra with its foray into the European market.” stated Dr. Guy Chamberland M.Sc., Ph.D., Interim CEO and Chief Scientific Officer.
“These partnerships are very important for Azevedos Indústria Farmacêutica and mean that international entities recognize our history, values, work and our technology know-how. Although having a long past, Azevedos is a pharmaceutical company turned to the future and focused on new challenges”, says Thebar Miranda, CEO of Azevedos Indústria Farmaceutica, S.A.
About PPP001
On April 4, 2018, Tetra officially started the Phase 3 trial for PPP001 indicated for terminal stage cancer patients with a goal to improving the quality of life of these patients as well as minimizing their pain. PPP001 is being developed to be the first smokable cannabis product for advanced cancer pain available under prescription.
About Azevedos Indústria Farmacêutica, S.A
Azevedos Group is a two-century Portuguese pharmaceutical brand, whose wide scope of activity ranges from development to distribution, leading manufacturing and exports to more than 60 regulated countries worldwide. Azevedos owns more than 300 MAs for the most relevant therapeutic areas covering all technology forms manufactured at its state of the art plant holding the most recognized certifications.
About Tetra Bio-Pharma Tetra Bio-Pharma (TSX-V:TBP) (OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and clinical development. Tetra is focusing on three core business pillars: clinical research, pharmaceutical promotion and retail commercialization of cannabinoid-based products. Tetra Bio-Pharma is currently developing a pipeline of five cannabinoid-based products using different delivery systems such as smokable pellets, oral tablets, eye drops and topical ointments.
More information at: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
