“I am happy to announce the first batch order of our medical cannabis inhalation devices. This is the first step in generating a steady revenue stream and it is the beginning of a new phase in our development. Sales of Rx Princeps ™ inhalation device will be an additional revenue stream for Tetra. Our inhalation device is a unique, high quality, CSA-approved customized titanium pipe, designed by our partner, Ford Pharmacy. With this launch Tetra is providing a high quality, standardized treatment with clinical data to patients in need.” As Rx Princeps™ (dried cannabis) will soon be launched under ACMPR through Aphria, and we are expecting to generate around $1.5 millions in sales, in fiscal 2018. Through our promotion and education efforts in Quebec, New Brunswick and part of Ontario, we estimate that over eight thousand patients will start using Rx Princeps™ under prescription from their doctors over in the next twelve months.” states Bernard Fortier, CEO of Tetra.
Mr Fortier highlights that “It is important to consider that only 4 % of physicians today consider prescribing cannabis. A fixed-dose approach, as we are promoting based on our original clinical data, is attractive to doctors because the treatment dose is standardized. We have a huge opportunity in educating doctors on our clinical approach.”
Tetra has received its first sales order from Sante Cannabis. Sante Cannabis is the first cannabinoid clinic and medical marijuana resource centre in Quebec. Healthcare professionals from Sante Cannabis support patients in their medical journey with cannabis.
Rx Princeps™ allows patients to optimize the benefits of medical cannabis through the intake of a standardized amount of product. The Rx Princeps™ inhalation device is an essential accessory to ensure consistency of treatment, as well as optimize the potency of the product, while minimizing wastes for the patient.
200,000 patients are already registered under the ACMPR program and around 1.5 million adults in Canada suffer from chronic pain and are considered non-responders to opioids; medical cannabis could be a therapeutic answer for those patients but physicians need bioavailability and safety data to prescribe medical cannabis with confidence. According to Health Canada, less than 3,000 physicians actually prescribe cannabis to their patients. Tetra is committed to provide them this data. Tetra has begun educating pain clinics and the medical profession across Canada on Rx Princeps™, including its advantages for patients. The Tetra medical team was at the Academic Pain Day hosted by the Ontario Pain Foundation this Wednesday to inform pain physicians about the benefits of Rx Princeps™. This was also an opportunity to introduce to them Tetra’s phase 1 data on its drug candidate PPP001.
Based on the most recent ACMPR market data from the Government of Canada, it is estimated that the sales of dried medical cannabis in Canada from April 2017 to March 2018 will be over $188M; Tetra is now entering this lucrative market and plans on progressively grabbing a significant share of it over the next two years.
About Rx Princeps™:
Rx Princeps™ is a unique blend of 3 strains of medical cannabis. Its production has been standardized in order to ensure a lot-to-lot consistent composition in its active ingredients (THC and CBD). Rx Princeps™ is composed of the same medical cannabis blend used to produce PPP001, which has demonstrated its safety in the Phase 1 clinical trial of PPP001. Rx Princeps™ will be available across Canada, through Licensed Producer Aphria Inc., for patients who have a prescription from their physicians.
About Tetra Bio-Pharma:
Tetra Bio-Pharma (TSX VENTURE:TBP)(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.