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Thorne Forms CB2 Therapeutics With Tetra Bio-Pharma
OTTAWA, Ontario, August 21, 2019 -- Tetra Bio-Pharma Inc., (TSX-V: TBP) (OTCQB: TBPMF) a leader in drug discovery and development for cannabinoid-based therapeutics, today announced it has signed an agreement with Thorne Research Inc. and Onegevity Health LLC to form a joint venture, CB2 Therapeutics Inc., a company focused on leveraging the power of the endocannabinoid system (ECS) using innovative multi-omics and multi-targeted therapeutic options to become a leader in the management of chronic inflammatory conditions. CB2 Therapeutics will focus on developing compounds for chronic inflammatory conditions with high unmet needs or that are poorly served with existing therapies.
Under the terms of the agreement, all parties grant the joint venture an exclusive, fully-paid, royalty-free license to use their respective intellectual property for global product development and commercialization. The joint venture is targeting an initial raise of US$10,000,000 to commence its phase 2 clinical trials for irritable bowel syndrome and the commercialization of its dietary supplements for interstitial cystitis.
"We are thrilled to partner with Thorne and Onegevity to leverage our collective expertise to pursue development of safe, natural molecules that act on the ECS for unique applications as drugs and natural products," said Guy Chamberland, Ph.D., Chief Executive Officer and Chief Scientific Officer of Tetra Bio-Pharma. "Onegevity Health is established as a scientific leader in its field, while Thorne is a main player in the field of evidence-based supplements. Combined with Tetra’s deep expertise in the functioning of the ECS system and existing clinical development infrastructure, we have created a formidable platform for targeting inflammatory conditions with unmet need."
Paul Jacobson, Chief Executive Officer of Thorne Research and Co-Founder of Onegevity commented, "We look forward to this partnership with Tetra Bio-Pharma to merge our data insight capabilities with Tetra’s impressive clinical development experience to provide solutions to patients struggling with the management of chronic inflammatory conditions." CB2 Therapeutics’ lead asset is a dietary supplement to support individuals who have functional bladder inflammation leading to urinary frequency and urgency in the absence of infection or other identifiable cause, which is expected to launch in 2020. CB2 Therapeutics also has an earlier-stage drug candidate for symptoms of Irritable Bowel Syndrome (IBS) and Inflammatory Bowel Disease (IBD).
About Thorne®
Thorne is a health and technology company that is disrupting prevention and wellness. By
combining dietary and lifestyle recommendations with nutritional supplement intervention,
Thorne is at the forefront of personalized health, with a mission to help consumers take control
of their health and live a healthy life. Thorne provides at-home biomarker tests to bring the
doctor to the consumer’s home. By leveraging its sophisticated analytical software, Thorne
helps consumers uncover health insights and confidently take action to optimize health
outcomes. Based on individual test results, Thorne’s technology and team can deliver a
personalized plan on what to eat, how to exercise, and which Thorne supplements to take.
Thorne is the only supplement manufacturer to collaborate with Mayo Clinic on wellness
research and content. Thorne is currently collaborating on a series of clinical trials with Mayo
Clinic, using tools of molecular assessment and nutrient-based supportive care. These efforts
span across a range of applications, such as sports concussion, cognition in aging, Parkinson’s
disease, ketogenic nutrition, cancer supportive care, irritable bowel syndrome, athletic
performance, and others. Thorne is a proud partner of a number of U.S. National Teams,
including U.S. Soccer, USA Hockey, and USA Triathlon. For more information visit thorne.com.
About Onegevity
Onegevity Health is the leading health technology company leveraging artificial intelligence for
personal health management. Onegevity uses an extensive, proprietary, and longitudinal
database of blood, genetic, and microbiome data to co-design and clinically validate nutritional
products and optimize pharmaceutical development pipelines. Onegevity provides a
comprehensive molecular portrait and customized recommendations to improve individual
physiological outcomes.
About Tetra Bio-Pharma Inc.
Tetra Bio-Pharma Inc. (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. Tetra Bio-Pharma has 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 its mission, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Some statements in this release may contain forward-looking information, including the
expected timing of completion of the Private Placement; the size of the Private Placement; the
participation of Tetra directors, officers and employees in the Private Placement, the satisfaction
of the conditions of closing of the Private Placement and on the anticipated timeframes. 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, 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 forwardlooking
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.
Investor Contact:
Bruce Mackle
LifeSci Advisors LLC
646-889-1200
TetraInvestors@LifeSciAdvisors.com
Media Contacts:
United States:
Andrew Mielach
LifeSci Public Relations
646-876-5868
amielach@lifescipublicrelations.com
Canada:
Carol Levine
Energi PR
514-288-8500 ext. 226
carol.levine@energipr.com
Media
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