Panag Pharma Inc (Panag), a subsidiary of Tetra Bio-Pharma, will collect royalties on sales on products produced with the technology True North has licensed from Panag.
OTTAWA, ON, May 10, 2022 /PRNewswire/ - Tetra Bio-PharmaInc. (“Tetra” or the “Company”) (TSX: TBP) (OTCQB: TBPMF) (FRA:JAM1) a leader in cannabinoid-derived drug discovery and development in collaboration with Panag, a subsidiary of Tetra Bio-Pharma, and True North Cannabis Corp (True North), today announced it has entered into a technology licensing agreement allowing True North to use its highly innovative proprietary liposome encapsulated technology within formulations distributed under the True North brand. Tetra’s patented technology leads to better absorption and aqueous emulsification of the CBD molecule in a variety of products. Panag will work with True North’s product team to integrate this technology and develop a line of hemp-derived CBD formulations, for True North and its partners to commercialize through their existing distribution relationships in both the medical and recreational markets in Canada About the Technology In developing these products, the Panag team is using Tetra’s liposome encapsulated technology, a patented process to encapsulate and protect the active molecules into a multi-layered sphere. Delivery of the formulation is greatly improved by enhancing the dispersion of loaded liposomal spheres within an aqueous (water-based) environment. “This opportunity is the beginning of a great relationship between the two companies. Panag has enjoyed working closely with the True North team and we are very excited at the expansion of our pipeline with innovative wellness products that fit within their portfolio, in the competitive and growing CBD market,” said Chris MacLean, COO of Panag Pharma. “I am glad that this highly innovative and patented technology will benefit the wellness market. We are adapting our pharmaceutical technologies for the benefit of True North customers,” said Steeve Néron, CCO of Tetra BioPharma. “True North is pleased to have entered into a licensing agreement with Panag Pharma Inc. to exclusively incorporate their molecular technology into product formulations distributed under the True North brand. Panag’s patented CBD encapsulation technology is expected to further differentiate True North’s branded product offering in the highly competitive medical and recreational CBD product market. True North looks forward to bringing an exciting array of innovative products utilizing this technology to consumers across the country,” said Brett Halvorson, President & CFO of True North. About True North About Panag Pharma About Tetra Bio-Pharma For more information visit: www.tetrabiopharma.com Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release. 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.
SOURCE Tetra Bio-Pharma Inc. | ||
Company Codes: OTC-QB:TBPMF, Toronto:TBP, OTC-BB:TBPMF, Stuttgart:JAM1 |
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