Tetra Bio-Pharma Provides an Update on Its Veterinary Ophthalmic Clinical Study with PPP003

Tetra's sterile cannabinoid manufacturing facility fully validated and operational

Tetra'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") TBP 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-Pharma
Tetra Bio-Pharma TBP 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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Forward-looking statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company's research and development strategies, including the success of this product  or any other product, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

For further information, please contact Tetra Bio-Pharma Inc.:

Investor Contact:
Bruce Mackle
LifeSci Advisors LLC
646-889-1200
Tetrainvestors@LifeSciAdvisors.com           

Media Contact: 
Andrew Mielach
LifeSci Public Relations
646-876-5868
amielach@lifescipublicrelations.com

Canada:
Carol Levine 
Energi PR 
514-288-8500 ext. 226 
carol.levine@energipr.com