Tetra Bio-Pharma Signs Definitive Commercialization Agreement for CAUMZ™ in Portugal With Azevedos Indústria Farmacêutica, S.A
Tetra expands its business relationship with Azevedos as it prepares for commercialization in Europe
OTTAWA, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX-V:TBP) (OTCQB:TBPMF), a leader in cannabinoid-derived drug discovery and development, today announced the signing of a definitive agreement with Azevedos Indústria Farmacêutica, S.A. (Azevedos) for the marketing and distribution of CAUMZTM (PPP011) in Portugal.
“Portugal has taken an innovative approach in its opioid battle, and Azevedos, the oldest pharmaceutical brand name in Portugal, is one of the leaders in the fight against opioid abuse. We are thrilled to partner with this forward thinking company and share in its commitment to bringing effective alternatives to opioids,” said Guy Chamberland, Ph.D., CEO and Chief Regulatory Officer of Tetra Bio-Pharma. “Azevedos is a global company with distribution capabilities throughout Europe, a state of the art manufacturing facility in Portugal and facilities in Mozambique and Tunisia. With the potential to manufacture a number of our prescription drug products for commercial launch in the European market, we are excited and look forward to further building this relationship with Azevedos.”
Under the terms of the agreement, Tetra will receive milestone payments and profit sharing on all sales of CAUMZTM in Portugal. In return, Azevedos will be responsible for registering the product, manufacturing, as well as all marketing and distribution in Portugal.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX-V:) (OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed, 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.
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Source: Tetra Bio-Pharma
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About Azevedos Indústria Farmacêutica, S.A
Azevedos Group is a two-hundred-year-old Portuguese pharmaceutical brand, whose wide scope of activity ranges from development to distribution, leading manufacturing and exports to more than 60 regulated countries worldwide. Azevedos owns more than 300 MAs for the most relevant therapeutic areas covering all technology forms manufactured at its state-of-the-art plant holding the most recognized certifications.
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:
Bruce Mackle
LifeSci Advisors LLC
646-889-1200
Media Contact:
Andrew Mielach
LifeSci Public Relations
646-876-5868
Canada:
Carol Levine
Energi PR
514-288-8500 ext. 226
