TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.
Tetra Bio-Pharma Inc. (TSX VENTURE:TBP)(OTCQB:TBPMF), today announced that it has added international expert Dr. Louis-Philippe de Lorimier, a board certified veterinary oncologist, to its clinical advisory board for the veterinary market.
“We are leveraging our current R&D work in humans to accelerate the development of the first cannabinoid-based drug for pets in the cancer-associated supportive therapy market, including pain. This market is underserved and patients and their owner are waiting for alternatives that are safer, more tolerable and more efficacious. We believe that our collaboration with Dr. de Lorimier will bring significant contributions to the launch of the first Health Canada approved drug for pets using cannabinoid-based active ingredients,” states Dr. Guy Chamberland, Chief Scientific Officer (CSO) of Tetra.
Once approved, the trial will be run at private veterinary clinics across Canada, which treats tens of thousands of animals every year. Cancer is the leading cause of death in pets, affecting 50% of dogs above age 8, and 40% of cats above 10 years of age. Tetra is developing cannabis-based products for the treatment of acute and chronic conditions that affect domestic animals, including cats, dogs and horses. The company is going to use its pharmaceutical formulation and drug development expertise to bring innovative therapies to veterinarians. Animals suffer from conditions that are similar to those affecting humans, such as cancer, nausea, appetite loss, anxiety, ophthalmologic diseases, and chronic pain. Pet owners want the safest and most effective therapies for their animals as well as cost effective therapies.
According to the American Pet Products Association, in 2016 consumers in the USA spent $66.75 billion dollars on pets. $15.75 billion dollars was spent on veterinary care. According to different market studies, the veterinary cancer therapeutic market is expected to reach USD $300 million by 2024. Cannabis-based therapies can target multiple clinical signs including pain, appetite, and nausea, thereby making the veterinary therapeutics market ideal for Tetra. Tackling these markets will allow Tetra to maximize its investment on several of its current drug therapies being developed for comparable human conditions.
Leave A Comment