18:51:19 EDT Sun 07 Aug 2022
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Avicanna Inc
Symbol AVCN
Shares Issued 45,858,596
Close 2022-02-14 C$ 0.55
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Avicanna signs term sheet with Tetra Bio-Pharma

2022-02-14 09:49 ET - News Release

Also News Release (C-TBP) Tetra Bio-Pharma Inc

Mr. Aras Azadian of Avicanna reports


Avicanna Inc. has executed a non-binding term sheet with Tetra Bio-Pharma Inc. to assess entering into a strategic partnership comprising three strategic pillars, including:

  • The registration and commercialization of Tetra's various prescription products (Reduvo AdVersa, Qixleef and Caumz) across Avicanna's channels in Latin America and South America;
  • Supply of Avicanna's active pharmaceutical ingredients (APIs) for Tetra's pharmaceutical pipeline; the phyto-cannabinoid APIs would be sourced from Avicanna's low-cost and sustainable operations in Colombia;
  • Co-development and support for Avicanna's pharmaceutical pipeline for Health Canada and U.S. Food and Drug Administration level clinical development and registration.

Aras Azadian, chief executive officer, commented: "We look forward to collaborating with the Tetra team, who, in many ways, [has] been pioneers of cannabinoid- pharmaceutical products. As the global industry continues to mature and shift its focus towards evidence-based medicines, the two companies are well positioned to work in synergy across several projects and leverage their leadership positions into fruitful commercial results."

Steeve Neron, chief commercial officer at Tetra, stated: "Tetra will need multiple reliable sources of API, like Avicanna's, to support Qixleef operations leading to its successful marketing authorization. Qixleef is Tetra's proprietary investigational new drug and is currently being evaluation in two U.S. FDA authorized clinical trials. Additionally, Avicanna's established distribution channels in Latin/South America may help advance Tetra's product commercialization in select jurisdictions."

About Tetra Bio-Pharma Inc.

Tetra Bio-Pharma is a leader in cannabinoid-derived drug discovery and development with an FDA and Health Canada cleared clinical program aimed at bringing novel prescription drugs and treatments to patients and their health care providers. Its evidence-based scientific approach has enabled them to develop a pipeline of cannabinoid-based drug products for a range of medical conditions, including pain, inflammation and oncology. With patients at the core of what it does, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing biopharma industry by regulators, physicians and insurance companies.

About Avicanna Inc.

Avicanna is an innovative, commercial-stage and international biopharmaceutical company focused on the development, advancement and commercialization of evidence-based cannabinoid-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts its research in Canada at its R&D (research and development) headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform, including advanced R&D and clinical development that has led to the commercialization of more than 30 products across four main market segments:

  • Medical cannabis and wellness products: Marketed under the Rho Phyto brand, these medical and wellness products are an advanced line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (CBD) and tetrahydrocannabinol (THC). The product portfolio contains a full formulary of products, including oral, sublingual, topical and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by preclinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • CBD derma-cosmetic products: Marketed under the Pura H&W or Pura Earth brands, these registered, clinically tested, derma-cosmetic products include a portfolio of functional CBD topical products.
  • Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders. Avicanna's first pharmaceutical preparation (Trunerox) is in the drug registration stage in South America.
  • Cannabinoid raw materials: Marketed under the Aureus brand, the company's raw material business has successfully completed sales to 12 countries. Aureus offers cannabis dried flower, standardized seeds, full-spectrum extracts, cannabinoid distillates, and isolated cannabinoids such as CBD, THC, cannabigerol (CBG) and other rare cannabinoids. Aureus products are produced at Santa Marta Golden Hemp SAS, the company's majority-owned subsidiary in Colombia, which is also GACP (good agricultural and collection practices) certified and has U.S. Department of Agriculture (USDA) National Organic Program certification for its hemp cultivar.

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