Tetra Bio-Pharma Enters into Manufacturing Agreement with Vitiprints LLC for CAUMZ™ and HCC011
Agreement secures a 2D patented printing technology that will significantly boost production capacity and reduce production costs
Further protects CAUMZ™ and HCC011 with four additional manufacturing patents
OTTAWA, Feb. 13, 2020 (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 it has signed a definitive manufacturing agreement with Vitiprints LLC, for the commercial scale production of CAUMZ™ and HCC011. This agreement will further protect CAUMZ™ and HCC011 with four additional patents on manufacturing know-how.
VITIPRINTS has developed a proprietary and patented manufacturing system, which can be used by Tetra to manufacture its CAUMZ™ drug on commercial scale. As part of the manufacturing agreement Tetra has obtained a Vitiprints exclusive license to use this technology for commercial manufacturing CAUMZ™ and HCC-011 at high speed and volume in a manner that will permit it to be used in a vaporization system (CAUMZ™ kit). This proprietary technology will operate under pharmaceutical GMP (Good Manufacturing Practices) regulations and will ensure a "pill-to-pill" consistency that meets inhalation drug standards.
In exchange of this exclusive license Tetra will be required to make milestones and royalty payments on CAUMZ™ sales. From a financial standpoint this proprietary technology will allow Tetra to reduce it Cost of Goods Sold (COGS) for CAUMZ™ by approximately 75% and will significantly improve CAUMZ™ gross margin.
Vitiprints will perform a thorough assessment of the Quantum Facility in Moncton next week with an objective of implementing its technology in the spring for the production of commercial batches. “The previous technology used for the manufacturing process was excellent but unfortunately it was limited by its maximal batch size capacity.” said Dr. Guy Chamberland, Tetra Bio-Pharma’s CEO and Chief Regulatory Officer. “In a first phase of implementation, Tetra’s production capacity will increase from 2,500 dosing capsules in a 3-day shift to 100,000 CAUMZ™ dosage units in a single 8-hour shift. The second phase will involve a scale-up and transfer of this proprietary technology to a Greater Montreal Pharmaceutical facility.”
"Tetra is now moving full speed into the implementation of it commercial manufacturing of its key assets CAUMZ™ and HCC011. This agreement provides Tetra with high speed and volume and flexibility to meet the global demand for CAUMZ™ and HCC-011. Tetra must manufacture batches of CAUMZ™ using its commercial manufacturing process to complete the quality section of the New Drug Application. It is very important for Tetra to ensure it can meet the global demand of patients who are suffering from cancer. Back orders are not an option!” said Dr. Guy Chamberland, Tetra Bio-Pharma’s CEO and Chief Regulatory Officer.
Andrew Ferber, Chairman of Vitiprints stated " Vitiprints is excited about bringing our unique and scalable technology to the Pharmaceutical Industry. Tetra is a perfect partner to work with and develop the system to commercial scalability. It was a natural extension of our work in the health and wellness space. We look forward to scaling up the great developments and work of Tetra and Dr. Chamberland and providing pain relief to cancer patients on a global scale and alleviating the use of opioids."
Vitiprints is a leader in advanced printing technology to uniquely manufacture food and non-food grade products by eliminating water & fillers in vitamins, beverages, milks, pharmaceuticals, personal care and cleaning products by dramatically reducing weight, size and cost. Vitiprints proprietary technology addresses environmental impact, logistics constraints, and profit margin pressure by printing fully functional, cost-effective products reducing any need for plastic packaging or components. Vitiprints customizable print technology platform utilizes high speed, high efficiency printing equipment for quick and cost-effective scaling of production capacity across many high-volume industries.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX-V: TBP) (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.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 this trial, the ability to obtain orphan drug status, 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. While no definitive documentation has yet been signed by the parties and there is no certainty that such documentation will be signed. 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.
LifeSci Advisors LLC
Media Contact US:
LifeSci Public Relations
Media Contact Canada:
Energi PR Inc.
514-288-8500 ext. 226
Upcoming Life Sciences Events
- April 2020
- Online: BioTrinity 2020 - DIGITAL EVENT
- May 2020
- : Venture Summit | West
- Vienna: Nano Drug Delivery 2020