Tetra Bio Pharma Inc (OTCMKTS:TBPMF) entered a pact with Storz & Bickel, an auxiliary of Canopy Growth Corp (NYSE:CGC), to sell Mighty Medic Device. The deal will ensure the delivery of the medical device, which is part of the CAUMZ kit and determine the selling price. It assumes significance because Canopy Growth is negotiating with reputed pharmaceutical companies to distribute and sell CAUMZ kit.
Financial assistance for Caumz kit
CRO and CEO of Tetra Bio, Dr. Guy Chamberland said the alliance with companies like Storz & Bickel is a win-win situation for both the companies. He said Canopy Growth offered financial assistance for the development of Caumz kit. It also offered its Mighty Medical Devices to facilitate clinical trial.
Advancing revenue model of Caumz kit
Tetra Bio is exploring options to commercialize Caumz kit. The company expects to emerge as a leader in the market for cannabis-based medicines if Caumz kit is useful to the patients. If it achieves success, the company can offer rich dividends to investors.
Mighty Medical device already received Health Canada approval. The medical vaporizer, which is a battery-operated device, needs certification. Tetra Bio used MMVP (Mighty Medic medical vaporizer) in its R&D with QIXLEEF and Caumz. The company is also conducting clinical trials of Plenitude, Reborn, and Serenity using MMVP.
Tetra bio conducted extensive trials on vaporizing volatile organic compounds, terpenes, and cannabinoids by heating cannabis products or pure compounds in the Might Medic. Both Canopy Growth and Tetra Bio will collaborate in preparing the certifications and required data to get US FDA approval for marketing the device. They will also examine Mighty Medic during the review process for drug approval.
Creates a new company – TCI
Altus Formulation and Tetra Bio formed a new company called Tallc Corporation Inc (TCI). The new company – TCI based in Quebec will focus on developing an innovative endocannabinoid CB2 receptor activator TA-A001. It will have excellent anti-inflammatory analgesic properties.
Tetra Bio and Altus will provide initial funding for the development activities. Intravenous analgesic – TA-A001 will be developed to satisfy the demand in the surgical pain market, which is $4 billion. Both the firms will also develop TA-A001 as a micellar eye drop to treat dry eye disease and ocular pain.