Tetra Bio-Pharma (TSXV:TBP) announced an agreement with Genacol Canada for the development of a a cannabinoid derived oral capsule and a topical cream for treating joint pain and inflammation.
As quoted in the press release:
Genacol will be responsible for the promotion and sales of these products throughout their network in Canada. According to industry statistics the market for topical pain relief products exceeded $2.5 billion. The companies plan to launch the products in 2019.
Tetra Bio-Pharma will use its formulation and regulatory expertise and clinical trial data from its topical cannabinoid and encapsulated cannabis oil (PPP005) trials to create innovative products for Genacol. Tetra Bio-Pharma will work with regulatory to bring these products to markets within Genacol’s sales network. “We are thrilled to partner with Genacol, a market leader in Canada with a sales network in over 40 countries, these products will command a great deal of exposure,” says Dr. Guy Chamberland, interim CEO and Chief Scientific Officer of Tetra Bio-Pharma. “Tetra is in the business of developing cannabinoid derived prescription and natural health products and this agreement will enable Tetra Bio-Pharma to expand the number of offerings to our patients.”
“We are extremely excited about the potential of this partnership we have created with Tetra Bio-Pharma, a world leader in developing cannabinoid derived prescription and natural health products,” stated Martin Vidal, President & Chief Executive Office for Genacol Corporation.