Tetra Bio-Pharma Inc. (“Tetra” or the “Company“) (CSE:TBP)(TBP.CN)(CNSX:TBP)(TBPMF), announced today that it will also commercialize novel cannabinoid based formulations for the treatment of pet conditions.
Over the last year, Tetra demonstrated its leadership in the development of human prescription cannabinoid drugs and will use the same strategy to become a leader in the field of veterinary cannabinoid drug products. Tetra will adopt a similar regulatory approach of transparency and collaboration with the veterinary drug authorities. In fact, Tetra is well suited to tackle the veterinary drug market since the ACMPR was created to allow human patient’s access to medical marijuana and does not provide any measures to allow testing of cannabis or cannabis derived products in pets.
According to a USA Federal Trade Commission May 2015 report, in 2014, Americans spent approximately $58 billion on their pets, including medications. This number more than doubled since 2001. This market is expected to enjoy excellent growth over the next decade as new therapies provide better and more tolerable treatment for pets. According to Andre Rancourt, CEO of Tetra Bio-Pharma, “After carefully studying the veterinary pet market and potential partnerships, the company decided to expand its development activities in order to tap into this lucrative market. In addition, Tetra is very fortunate to have Dr. Chamberland who has considerable experience navigating the regulatory affairs in the veterinary industry.”
Tetra had announced the successful completion of several corporate milestones associated with the development of its prescription drug products. These announcements lead to discussions with veterinary specialists who expressed the need for novel cannabinoid therapies for pets.
Tetra will create a Veterinary Advisory board consisting of veterinary specialists in the fields of ophthalmology, oncology and pain. This board of veterinary experts will help guide the development to ensure that the products target unmet veterinary needs for domestic animals. Tetra will use the veterinary drug development program to expand its potential revenues from the sales of a drug product in both the human and pet drug markets. The corporation will also establish partnerships with pharmaceutical companies specialized in the sale and distribution of veterinary products.
About Tetra Bio-Pharma:
Tetra Bio-Pharma is a multi subsidiary publicly traded company (CSE:TBP)(TBPMF) 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
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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.