OTTAWA, ON / ACCESSWIRE / June 3, 2020 / Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSXV:TBP)(OTCQB:TBPMF) and Altus Formulation Inc. ("Altus") today announced the launch of TALLC Corporation Inc. ("TALLC") a new Quebec company focussed on the development of TA-A001 a novel endocannabinoid CB2 receptor activator with potent anti-inflammatory analgesic properties.
With initial funding provided from Altus and Tetra, and under a new Board headed by Paladin co-founder Mark Beaudet, TALLC will develop TA-A001 as a first in class intravenous analgesic for the $4bn surgical pain market where its novel mechanism, fast onset and long duration can provide an alternative to opioid medications and NSAID drugs. TALLC will also develop TA-A001 as a topical micellar eye drop for ocular pain and dry eye disease another multibillion-dollar market dominated by drug reformulations. By treating the chronic inflammation underlying the disease TA-A001 has the potential to bring lasting relief to the millions of patients in North America suffering this debilitating condition.
Damon Smith, Founder and CEO of Altus Formulation commented: "There were about 70 million surgeries performed in North America last year. Despite their well-known deficiencies, opioids were still the most widely used painkillers because there is no real alternative. TA-A001 has the ability to address this issue head-on by controlling the pain and ongoing inflammation without the addictive properties and side-effects of other drugs. Addiction, to our computer screens, is now making painful dry eyes a growing concern. The anti-inflammatory and analgesic properties of TA-A001 can provide a way back from this chronic condition in the form of a simple to use eye drop. Forming TALLC, separate from Altus or Tetra allows focussed and efficient development of this important new molecule.
Guy Chamberland, CEO and CRO of Tetra added: "TA-A001 is a proprietary New Chemical Entity (NCE) that we have been studying for a number of years. I believe its unique mode of action provides a high probability of success (POS) as an anti-inflammatory analgesic and that our multiple issued and pending patents will provide many years of protection. I am glad that TALLC is now operational and believe it will deliver great value for its shareholders".
For more information about TALLC please visit: www.TALLCInc.com
About Altus Formulation Inc.
Altus Formulation is a Quebec based drug formulation and development company using its proprietary and patent protected drug delivery technologies to generate novel, differentiated and cost-effective new products for its partners and their patients. With a focus on Safer to Use™ formulations, Altus' technologies include Intellitab™ abuse deterrent technology, Flexitab™ breakable extended release tablets and SmartCelle™ micellar technologies for intravenous and topical delivery of low solubility molecules.
For more information, please visit www.altusformulation.com
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSXV:TBP)(OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed and approved, clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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Forward-looking statements
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 to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company's research and development strategies, including the success of this product or any other product, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions 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.:
Investor Contact:
Alpha Bronze, LLC
Mr. Pascal Nigen
Phone: + 1 (646) 255-0433
[email protected]
Media Contact:
energi PR
Ms. Carol Levine APR, FCPRS
Phone: + 1 (416) 425-9143 ext. 226
Mobile: + 1 (514) 703-0256
[email protected]
SOURCE: Tetra Bio-Pharma