- Source : Press Release
- Date : 2018-04-24
- Event type : Phase 1
- Companies : Kamada Ltd.
Tetra Bio-Pharma Signs Landmark Commercialization Term Sheet for Its Lead Pharmaceutical Product, PPP001, in Israel
OTTAWA, ONTARIO--(Marketwired - April 24, 2018) - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX VENTURE:TBP) (OTCQB:TBPMF), announced today that the Company has signed a first binding term sheet for the marketing and distribution of PPP001 in Israel with Kamada Ltd., a leading pharmaceutical company. The signing of a Definitive Distribution Agreement is expected to follow shortly. PPP001 is being developed to be the first smokable cannabis product for advanced cancer pain available under prescription.
This first international market commercialization agreement represents a significant milestone and a validation of Tetra Bio-Pharma's business model with a leading Israel-based pharmaceutical company. Israel, like Canada, is considered one of the world leaders in the production and development of cannabinoid-based products. Kamada is a company with two FDA-approved products and an Israeli-based distribution segment that has demonstrated continued growth. Tetra Bio-Pharma intends to work closely with Kamada as PPP001 advances towards regulatory approval and commercial launch in Israel.
Under the terms of the anticipated final agreement, Kamada will be responsible for registering the product, as well as all marketing and distribution, in Israel. Tetra will be eligible to receive certain milestone payments and an undisclosed percentage of the sales of PPP001 generated by Kamada in Israel.
On April 4, 2018, Tetra Bio-Pharma 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 Tetra Bio-Pharma: Tetra Bio-Pharma (TSX VENTURE: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
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