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Tetra Bio-Pharma and Altus Formulation Form New Company "TALLC" to Exploit TA-A001
Tetra Bio-Pharma and Altus Formulation Form New Company "TALLC" to Exploit TA-A001.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"OTTAWA, ON / ACCESSWIRE / June 3, 2020 / Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSXV:TBP)(OTCQB:TBPMF) and Altus Formulation Inc. ("Altus") today announced the launch of TALLC Corporation Inc. ("TALLC") a new Quebec company focussed on the development of TA-A001 a novel endocannabinoid CB2 receptor activator with potent anti-inflammatory analgesic properties.With initial funding provided from Altus and Tetra, and under a new Board headed by Paladin co-founder Mark Beaudet, TALLC will develop TA-A001 as a first in class intravenous analgesic for the $4bn surgical pain market where its novel mechanism, fast onset and long duration can provide an alternative to opioid medications and NSAID drugs. TALLC will also develop TA-A001 as a topical micellar eye drop for ocular pain and dry eye disease another multibillion-dollar market dominated by drug reformulations. By treating the chronic inflammation underlying the disease TA-A001 has the potential to bring lasting relief to the millions of patients in North America suffering this debilitating condition.Damon Smith, Founder and CEO of Altus Formulation commented: "There were about 70 million surgeries performed in North America last year. Despite their well-known deficiencies, opioids were still the most widely used painkillers because there is no real alternative. TA-A001 has the ability to address this issue head-on by controlling the pain and ongoing inflammation without the addictive properties and side-effects of other drugs. Addiction, to our computer screens, is now making painful dry eyes a growing concern. The anti-inflammatory and analgesic properties of TA-A001 can provide a way back from this chronic condition in the form of a simple to use eye drop. Forming TALLC, separate from Altus or Tetra allows focussed and efficient development of this important new molecule.Guy Chamberland, CEO and CRO of Tetra added: "TA-A001 is a proprietary New Chemical Entity (NCE) that we have been studying for a number of years. I believe its unique mode of action provides a high probability of success (POS) as an anti-inflammatory analgesic and that our multiple issued and pending patents will provide many years of protection. I am glad that TALLC is now operational and believe it will deliver great value for its shareholders"...