Business
Tetra Bio-Pharma Acquires Exclusive Global Technology Rights to a Mucoadhesive Delivery Technology Called Adversa(R) for its PPP-002 (dronabinol) drug candidate from IntelGenx
Tetra Bio-Pharma Acquires Exclusive Global Technology Rights to a Mucoadhesive Delivery Technology Called Adversa(R) for its PPP-002 (dronabinol) drug candidate from IntelGenx.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"Tetra will leverage its recent Dronabinol data pack acquisition to rapidly file its second New Drug Submission application to commercialize another THC-based prescription drugFurther reinforces its patent protection and life cycle management on its dronabinol franchiseShown in a clinical trial to have fewer side effects and enhanced bioavailabilitySolidifies Tetra's revenue streamOTTAWA, ON / ACCESSWIRE / October 21, 2020 / Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX:TBP)(OTCQB:TBPMF), a leader in cannabinoid-derived drug discovery and development, announced today that it has entered into an amended and restated license agreement with IntelGenx Corp. (IGX)(IGXT), a Canadian leader in pharmaceutical films, to acquire additional worldwide exclusive rights for the mucoadhesive delivery technology for its PPP-002 (Dronabinol) drug candidate. Tetra is planning to file a 505(b)(2), in the US, in early 2022 to obtain its second Drug Identification Number (DIN) for a THC-based prescription drug.In addition to the Dronabinol Soft Gel capsules, Tetra will bring forward a second cannabinoid derived medicine, with an enhanced intellectual property protection, for patients who experience nausea while undergoing chemotherapy. The global Chemotherapy Induced Nausea and Vomiting (CINV) market is estimated to reach $2.6Bn USD by 2022(1).This new license agreement supersedes any previously ones signed between the parties. Under the terms of the agreement, Tetra has agreed to purchase the Adversa® technology, which can be applied to our global Dronabinol franchise, for three undisclosed milestones; 45% to be paid on November 15th 2020, 45% to be paid on March 1st 2021, and a final payment of 10% upon successful technology transfer to our Contract Manufacturing Organization. In addition, IntelGenx will receive a low single digit royalty on future net sales of Dronabinol mucoadhesive tablets.The Adversa® mucoadhesive delivery technology is expected to limit the first-pass metabolism, improve bioavailability, reduce gastro-intestinal exposure and side-effects, and finally enhance product stability.Dr. Guy Chamberland, CEO and CRO of Tetra commented: "We have achieved another critical step in our Dronabinol/CINV strategic plan. This transaction is strengthened by the acquisition of the Dronabinol Soft G...