Tetra Bio-Pharma Inc. - TBPMF STOCK NEWS

Akanda Corp. (NASDAQ: AKAN) and Tetra Bio-Pharma (TSX: TBP, OTCQB: TBPMF) have formed a strategic partnership where Akanda will supply Tetra with pharmaceutical-grade cannabis flower in microdose caps for their QIXLEEF™ products. This collaboration allows Akanda to enter the cannabis drug development market and secures Tetra a reliable source of high-quality ingredients for FDA clinical trials. The total addressable market for QIXLEEF™ is projected to be $1.7 billion by 2028. The partnership enables Akanda to enhance its CDMO capabilities and support Tetra's commercialization efforts.

Akanda Corp. (NASDAQ: AKAN) and Tetra Bio-Pharma (TSX: TBP, OTCQB: TBPMF) announced a strategic supply agreement where Akanda will provide pharmaceutical-grade cannabis for Tetra’s QIXLEEF™ product. This partnership allows Akanda to enter the cannabinoid drug market and supports Tetra's FDA clinical trials for cancer pain management. The companies estimate a total addressable market of nearly $1.7 billion by 2028, with the supply commencing in Q3 2022 and potentially reaching over 10 metric tonnes annually.

Tetra Bio-Pharma Inc. has launched a new subsidiary, Tetra Bio-Pharma Australia Pty Ltd, to focus on clinical trials in Australia, supporting its global expansion strategy for QIXLEEF™ and future drug candidates. The initiative follows a partnership with Cannvalate Pty Ltd that allows the subsidiary to benefit from a 43.5% tax credit on clinical trial expenses. Additionally, Tetra has completed the Annual Licence Review for its Drug Establishment Licence in Canada, emphasizing its commitment to launching REDUVO™, a drug for chemotherapy-induced nausea and vomiting.

Tetra Bio-Pharma Inc. (TSX: TBP, OTCQB: TBPMF) held its annual general meeting on May 30, 2022, where all resolutions, except for a proposed share consolidation, were approved. The election results confirmed all five management-nominated directors, with Guy Chamberland receiving 72.53% votes in favor. PricewaterhouseCoopers LLP was appointed as auditors with 96.71% approval. Additionally, the shareholders voted in favor of granting share warrants to Investissement Québec, with 88% support. A resolution to change the registered office to Québec was also approved.

Tetra Bio-Pharma Inc. announced the appointment of Leslie Auld as Chief Financial Officer, effective May 30, 2022. Auld brings over 30 years of financial experience in the pharmaceutical and diagnostic sectors, having held executive roles in biotechnology firms focused on investigational drugs. Dr. Chamberland, CEO, expressed confidence in Auld's expertise to navigate challenging market conditions and support the company's growth. Tetra Bio-Pharma specializes in cannabinoid-derived drug discovery and has an FDA and Health Canada cleared clinical program.

Tetra Bio-Pharma has received orphan drug designation from the European Medicines Agency (EMA) for its proprietary cannabidiol (CBD) therapeutic, PPP004, aimed at treating epidermolysis bullosa (EB). This marks the third orphan drug designation for PPP004, which is now ready for human clinical trials. The drug's unique formulation aims to alleviate pain and promote wound healing in EB patients. This designation offers advantages like a reduced drug development cost, an accelerated review process, and market exclusivity for ten years, enhancing Tetra's competitive position in the market.

Tetra Bio-Pharma has closed the first tranche of a private placement with Cannvalate, issuing 8,236,681 common shares at $0.06 per share, raising $0.5 million. This tranche represents 1.95% of the company's outstanding shares. The overall placement aims for $7.5 million and will facilitate the initiation of the REBORN©1 clinical trial in Australia. The partnership with Cannvalate enables access to a 43.5% tax credit on clinical trial expenses and enhances patient recruitment for Tetra's cannabinoid therapies.

Tetra Bio-Pharma has announced a licensing agreement with True North Cannabis Corp for its patented liposome encapsulated technology, enhancing CBD absorption in products. The collaboration through Panag Pharma will see True North incorporate this technology into new CBD formulations expected to launch in Q4 2022. This partnership aims to expand the product offerings in the competitive Canadian CBD market, benefiting both companies.

Tetra Bio-Pharma has partnered with Cannvalate, agreeing to invest CAD$7.5M for clinical trials of its drug candidates in Australia. This partnership allows Tetra to benefit from a 43.5% tax credit on clinical trial expenses. Cannvalate will manage trials for the REBORN®, PLENITUDE®, and CAUMZ® drugs. Additionally, Dr. Sud Agarwal has been appointed as a Special Advisor to the CEO. Proceeds from a private placement of common shares will fund R&D activities and are expected to be received in tranches based on operational milestones.