Tetra Bio-Pharma Inc. a leader in cannabinoid-derived drug discovery and development announced today that it has executed a non-binding term sheet with Avicanna Inc. to assess entering into a strategic partnership comprising of three strategic pillars, including:

•     The registration and commercialization of Tetra's various prescription products (REDUVO™ AdVersa®, QIXLEEF™ and CAUMZ™) across Avicanna's channels in Latin/South America. This opens the door for Tetra to initiate sales earlier than planned.
•     Supply of Avicanna's Active Pharmaceutical Ingredients (APIs) for Tetra's pharmaceutical pipeline. The phyto-cannabinoid APIs would be sourced from Avicanna's low cost and sustainable operations in Colombia.
•     Co-development and support for Avicanna's pharmaceutical pipeline for Health Canada and FDA level clinical development and registration.

Steeve Neron, Chief Commercial Officer at Tetra stated, "Tetra will need multiple reliable suppliers of API, like Avicanna, to support QIXLEEF™ operations leading to its successful marketing authorization and global sales and distribution. QIXLEEF™ is Tetra's proprietary investigational new drug and is currently being evaluation in two U.S. FDA-authorized clinical trials. Additionally, Avicanna's established distribution channels in Latin/South America may help advance Tetra's product commercialization in select jurisdictions".  

Aras Azadian, Chief Executive Officer of Avicanna also commented on the opportunity. "We look forward to collaborating with the Tetra team who has in many ways been pioneering cannabinoid- prescription products. As the global industry continues to mature and shift its focus towards evidence-based medicines, the two companies are well positioned to work in synergy across several projects and leverage their leadership positions into fruitful commercial results."