Tetra Bio-Pharma Provides an Update on Its Veterinary Ophthalmic Clinical Study with PPP003
Tetra’s sterile cannabinoid manufacturing facility fully validated and operationalTetra’s subsidiary, Panag Pharma, ready to initiate the treatment phase of clinical trial of PPP003 for treatment of eye pain
OTTAWA, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX-V:TBP) (OTCQB:TBPMF), a leader in cannabinoid-derived drug discovery and development, is pleased to provide an update on its veterinary clinical trial to evaluate the safety, tolerability and potential efficacy of its PPP003 ophthalmic drug in the treatment of eye pain in companion animals with indolent corneal ulcers.
Following the authorization from Health Canada in 2019, Tetra has invested in the setup of a sterile cannabinoid drug manufacturing suite at the facility in New Brunswick which has been used to manufacture validated batches of sterile PPP003 drug for use in its ophthalmic drug development program. The design of the sterile suite, implementation of cGMPs, and validation of the sterile process was performed by Tetra’s manufacturing and quality compliance staff. The validated batches of sterile drug will be used in the planned clinical trial in companion animals with indolent corneal ulcers, which is expected to begin in 2020. A similar manufacturing process is required for the clinical trials in human patients with eye diseases such as painful dry eye and uveitis.
“We are thrilled to have successfully created and validated a facility to manufacture batches of sterile drugs for our ophthalmic drug development program. In June 2019, the U.S. FDA validated our ophthalmic research program and with this significant milestone achieved, we are in an excellent position to bring PPP003 to human clinical trials later this year,” said Dr. Guy Chamberland, CEO and Chief Regulatory Officer of Tetra Bio-Pharma. “Along with our PPP011 and PPP001 drug development programs, this drug development program is one of Tetra’s corporate priorities, since there is a significant unmet medical need for ophthalmic drugs in both companion animals and humans. PPP003 was selected because it is a non-controlled cannabinoid and will favor global market penetration.”
According to a 2019 report by Market® Research Reports report, the global companion animal healthcare market reached a value of approximately $46 billion USD in 2018 and is expected to reach an estimated $67 billion USD by the end of 2025. This market has an estimated growth at a CAGR of 5.56% over the period of 2019-2025.
About Tetra Bio-PharmaTetra Bio-Pharma (TSX-V: TBP ) (OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed, clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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Investor Contact:Bruce MackleLifeSci Advisors LLC646-889-1200 Tetrainvestors@LifeSciAdvisors.com