With the rapid expansion of the cannabis market, the global consumer has a growing need for evidence-based cannabinoid-based products. The medical and pharmaceutical market segments have not been left behind either. In leading global cannabinoid advancements, Avicanna Inc. has executed a strategic partnership with Tetra Bio-Pharma.
It is worth noting that hundreds of businesses quickly embrace collaborations, partnerships and joint ventures. Perhaps because of the continued maturity of the global industry and the shift towards evidence-based medicines.
The duo’s collaboration will address three critical pillars within its operations. These are registration of and commercialization of Tetra’s various prescription products, Supply of Avicanna’s Active Pharmaceutical Ingredients (APIs) for Tetra’s pharmaceutical pipeline and Co-development and support for Avicanna’s pharmaceutical pipeline.
Leveraging Their Leadership Positions into Fruitful Commercial Results
The innovative, commercial-stage and international Avicanna has its research operations in Canada in the Johnson & Johnson Innovation Centre, JLABS, Toronto. The company collaborates with leading Canadian academic and medical institutions. Hence becoming an established industry-leading scientific platform. Its R&D activities have resulted in the commercialization of more than thirty products in various market segments.
Using an evidence-based scientific approach by Tetra Bio-Pharma has put them ahead of other institutions. Their pipeline of cannabinoid-based drug products attends to various medical conditions such as inflammation, pain, and oncology. And with this validation, the company continues to focus on providing rigorous scientific data required by industry regulators, insurance companies and physicians.
Meanwhile, Steeve Neron, Chief Commercial Officer at Tetra, acknowledged, “Tetra will need multiple reliable sources of API, like Avicanna’s, to support QIXLEEF™ operations….”
The Approval of a $4.5M CDN Participative Loan for Tetra Bio-Pharma Inc.
The ministère de l’Économie et de l’Innovation (MEI) has come forth to support the development of ARDS-003 in the indication of acute respiratory distress syndrome. Through funding $4.5M CDN managed by Investissement Québec (IQ), the government is confident about offering potentially life-changing initiatives for the population.
According to the Minister of the Economy and Innovation, Pierre Fitzgibbon, Tetra received several diligent reviews and validation for the funding. However, the transaction is conditional. Its approval is dependent on all shareholders voting during the Shareholders’ meeting in May 2022.
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