Tetra Bio-Pharma Inc (TSX:TBP) (OTCQB:TBPMF) (FRA:JAM1) said it has signed a letter of intent (LOI) with Danish company DanCann Pharma for the exclusive distribution of its Reduvo Adversa and QIXLEEF products in Denmark, Norway, Sweden, Finland, and Germany.
The immunomodulator drug discovery group said subject to registration with the European Medicines Agency (EMA), DanCann will handle the exclusive sales and distribution in the Nordics and Germany for Reduvo Adversa and QIXLEEF, a botanical cannabinoid-derived medicine, as well the over-the-counter (OTC) medicinal cannabis product ENJOUCA.
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The deal encompasses a sum of upfront and milestone payments of up to $2.25 million and a confidential royalty level on DanCann net sales of the three products.
Reduvo Adversa is designed to treat patients living with Chemotherapy-Induced Nausea and Vomiting (CNIV) as well as those suffering from AIDS-related anorexia associated with weight loss, while QIXLEEF is expected to be used for advanced cancer pain and breakthrough pain, and ENJOUCA is aimed at helping patients with pain management.
Tetra also said that the Reduvo Adversa technology will allow DanCann to launch a largely improved version of dronabinol, a specific form of tetrahydrocannabinol (THC), in the Nordic countries and Germany, adding that the clinical benefit will include limited first-pass metabolism leading to improved bioavailability and consequently to reduced gastro-intestinal exposure and side-effects.
"DanCann Pharma and Tetra Bio-Pharma share many of the same values that drive our business - a firm belief that cannabinoid-derived medicines can help improve the quality of life of patients suffering from pain. Physicians and other healthcare professionals are receptive to cannabinoid-derived medicines but have been seeking robust scientific evidence supported by a traditional pharma infrastructure such as a pharmacovigilance program, medical information, medical science liaisons, and so on,” Tetra Bio-Pharma’s chief commercial officer Steeve Néron said in a statement.
“We look forward to working with DanCann Pharma in the Nordic Countries and Germany and to intensifying this first European partnership for Tetra. We are very confident that our respective organizations will deliver impactful therapeutic value to Scandinavian and German patients accompanied by financial success for both DanCann and Tetra,” he added.
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