Tetra Bio-Pharma Inc. (TSXV: TBP) has entered into a manufacturing agreement with Vitiprints LLC, which will enable the company to produce its HCC011 and CAUMZ™ products at a commercial scale in order to meet global demand.
As per the agreement, Tetra obtained an exclusive license to commercially produce its HCC011 and CAUMZ™ drug using Vitiprints’s manufacturing technology. As such, the technology will be subject to Good Manufacturing Practices regulations and drug standards. In return for the proprietary manufacturing technology, Tetra will have to make milestones and pay royalties to Vitiprints from the sale of its CAUMZ™ drug.
Production is expected to begin in the spring, and will be based out of a facility in Moncton. Initially, production will begin with a starting target of 2,500 capsules every three days, which will then increase to a second phase of 100,000 capsules per day. However, in order for the second phase to commence, the manufacturing technology will be moved to a larger facility in Montreal.
It is estimated that by Tetra obtaining an exclusive manufacturing license from Vitiprints, the company will experience a Cost of Goods Sold reduction by about 75% for its CAUMZ™ drug.
Vitiprints LLC is a company focused on manufacturing non-food and food products utilizing its proprietary printing technology.
Tetra Bio-Pharma is a Canadian biopharmaceutical company focused on developing cannabinoid treatments and prescription drugs through its approved clinical program.
Tetra Bio-Pharma Inc is currently trading at $0.46 on the TSXV.
Information for this briefing was found via Sedar and Tetra Bio-Pharma Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.