OTTAWA, Ontario, Sept. 20, 2017 /Weed Wire/ — Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX VENTURE:TBP)(OTCQB:TBPMF), today announced that it has signed a letter of intent (LOI) with a major player of the healthcare specialty industry.
This privately-owned partner, which asked to remain unnamed for the time being, has a pan-Canadian distribution network that reaches up to 7000 specialized healthcare professionals. Through their distribution channel, they have access to over 3000 specialized healthcare businesses in Canada and already work with a worldwide network of partners, including the USA.
Tetra and its partner are working together to develop a new line of products, leveraging Tetra’s clinical and product development expertise. The first product will be launched in Q1 2018 with subsequent products already in development for the remainder of 2018. Tetra and its partner will be tapping into the overall Over-The-Counter (OTC) topical analgesics market of more than $300 million in sales in Canada, with the US market reaching over $2.9 billion, according to an IMS analysis. Both companies are expecting to grab a share if the specialized OTC topical analgesics market in a short period of time and could see sales generated from this distribution channel reaching $3 million for Canada in the 1st year. Since the initial launch phase will be focused on the Canadian market, further guidance will be provided as Tetra’s partner gets ready to launch in the US.
“We’re excited to enter this specialized market as there is a significant need for our clinical expertise in product development. This partnership opens a new distribution channel for our pharmaceutical retail division not only in Canada, but also worldwide through their active partners in the US and Europe. Tetra remains committed and is actively developing partnerships to generate a significant revenue stream. This partnership demonstrates our team’s focus and dedication in accelerating our commercialization strategy towards selling a specialized line of products in our pharmaceutical retail business,” comments Bernard Fortier, CEO of Tetra Bio-Pharma.
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 has three core expertise: clinical research, pharmaceutical promotion and retail commercialization of cannabinoid-based drugs.
More information at: www.tetrabiopharma.com.
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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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tetra Bio-Pharma Inc.
Vice-President Marketing & Communication
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