Business
Tetra Bio-Pharma Receives $4.5M from the Ministère de l'Économie et de l'Innovation/Investissement Québec
Tetra Bio-Pharma Receives $4.5M from the Ministère de l'Économie et de l'Innovation/Investissement Québec.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"\n\n\n\nTetra Bio-Pharma Receives $4.5M from the Ministère de l'Économie et de l'Innovation/Investissement Québec\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nTetra Bio-Pharma Receives $4.5M from the Ministère de l'Économie et de l'Innovation/Investissement Québec\nPR Newswire\nMONTREAL, Feb. 16, 2022\n\n\n\nMONTREAL, Feb. 16, 2022 /PRNewswire/ - Tetra Bio-Pharma Inc. (\"Tetra\" or the \"Company\") (TSX: TBP) (OTCQB: TBPMF) (FRA: JAM1), a leader in cannabinoid-derived drug discovery and development is proud to announce the approval of a $4.5M CDN participative loan from the ministère de l'Économie et de l'Innovation (MEI) under the BioMed Propulsion Program, managed by Investissement Québec (IQ). This funding will support the development of ARDS-003 in the indication of acute respiratory distress syndrome whether or not it is caused by COVID-19, as well as in patients with Sepsis.\n\n \n \n \n \n \n \n\n \nThis transaction is conditional on the approval of all shareholders and will be subject to a vote at the General Meeting of Shareholders in May 2022 since it will require the transfer of our Head Office from the province of Ontario to the province of Quebec (already more than 60% of our personnel reside in Quebec) and the approval of certain financial terms. \nTetra's strong growth potential in the Life Sciences sector is recognized by the Government of Quebec.\n\"Our support of Tetra Bio-Pharma will lead to the development of medication to treat acute respiratory distress syndrome, such as in severe cases of COVID-19. Our government will always be there to support potentially life-changing initiatives for the population, especially when they contribute to the vitality of the Québec life-sciences sector and Quebec's reputation in the field of biotechnology,\" said Pierre Fitzgibbon, Minister of the Economy and Innovation and Minister Responsible for Regional Economic Development. \n\"Tetra has been the subject of several diligent reviews by the MEI and IQ, which validates our scientific, financial, and commercia...