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Tetra Bio-Pharma Announces Joint Venture with Thorne and Onegevity Health to Form CB2 Therapeutics
Tetra Bio-Pharma Announces Joint Venture with Thorne and Onegevity Health to Form CB2 Therapeutics.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"\n OTTAWA, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc., (TSX-V: TBP) (OTCQB: TBPMF), a leader in drug discovery and development for cannabinoid-based therapeutics, today announced it has signed an agreement with Thorne Research Inc. and Onegevity Health LLC to form a joint venture, CB2 Therapeutics Inc., a company focused on leveraging the power of the endocannabinoid system (ECS) using innovative multi-omics and multi-targeted therapeutic options to become a leader in the management of chronic inflammatory conditions. CB2 Therapeutics will focus on developing compounds for chronic inflammatory conditions with high unmet needs or that are poorly served with existing therapies. Under the terms of the agreement, all parties grant the joint venture an exclusive, fully-paid, royalty-free license to use their respective intellectual property for global product development and commercialization. The joint venture is targeting an initial raise of US$10,000,000 to commence its phase 2 clinical trials for irritable bowel syndrome and the commercialization of its dietary supplements for interstitial cystitis.    “We are thrilled to partner with Thorne and Onegevity to leverage our collective expertise to pursue development of safe, natural molecules that act on the ECS for unique applications as drugs and natural products,” said Guy Chamberland, Ph.D., Chief Executive Officer and Chief Scientific Officer of Tetra Bio-Pharma. “Onegevity Health is established as a scientific leader in its field, while Thorne is a main player in the field of evidence-based supplements. Combined with Tetra’s deep expertise in the functioning of the ECS system and existing clinical development infrastructure, we have created a formidable platform for targeting inflammatory conditions with unmet need.” Paul Jacobson, Chief Executive Officer of Thorne Research and Co-Founder of Onegevity commented, “We look forward to this partnership with Tetra Bio-Pharma to merge our data insight capabilities with Tetra’s impressive clinical development experience to provide solutions to patients struggling with the management of chronic inflammatory conditions.” CB2 Therapeutics’ lead asset is a dietary supplement to support individuals who have functional bladder inflammation leading to urinary ...