Avicanna & Tetra Biopharma announce strategic partnership to bolster biz

Avicanna Inc., a state-of-the-art, commercial-stage and international biopharmaceutical organization, has executed a non-binding term sheet with Tetra Biopharma to announce a strategic merger.

As per sources, Avicanna aims for the advancement, development and commercialization of evidence-centric cannabinoid-based materials.

The partnership will reportedly consist of three strategic pillars, which will comprise of the commercialization and registration of Tetra’s multiple prescription products like CAUMZ, REDUVO AdVersa and QIXLEEF throughout Avicanna’s segments in South/Latin America.  In addition, it will also include the supply of Avicanna’s API (Active Pharmaceutical Ingredients) for the pharmaceutical pipeline of Tetra. Avicanna’s less expensive and sustainable operations in Colombia will provide the phyto-cannabinoid APIs.

The alliance would also seek support and co-development for Avicanna’s pharma pipeline for the FDA level clinical progress and Health Canada and registration.

Aras Azadian, Chief Executive Officer, Avicanna, stated that the company is looking forward to partner with the Tetra team who have been the leading producers for cannabinoid pharmaceutical items.

Aras mentioned that with the evolution of global industry, there has been a shift to evidence-centric medicines, wherein the two organizations are well bred to work in synergy across the upcoming projects and leverage their leading positions into productive commercial results.

Steeve Neron, Chief Commercial Officer, Tetra, commented that their firm will require various trustworthy sources of API, similar to Avicanna, to back QIXLEEF’s operations leading to its fruitful market authorization.

Neron reportedly claimed that QIXLEEF is Tetra’s exclusive investigational new medicine and is presently being evaluated at two of the United States FDA-approved clinics.

Additionally, Avicanna’s recognized distribution stations across South or Latin America will assist in advancing Tetra’s product commercialization in specific jurisdictions.

About Tetra Bio-Pharma

Tetra Biopharma is a dominator of the cannabinoid-derived drug development and discoverer with an FDA clearance focusing on bringing prescription drugs and treatments to the healthcare providers and patients.  

Source Credit:- https://www.globenewswire.com/news-release/2022/02/14/2384314/0/en/Avicanna-Enters-into-a-Strategic-Partnership-with-Tetra-Bio-Pharma.html