WITH EUROPE IN SIGHT, OTTAWA’S TETRA BIO-PHARMA CLOSES $11.5M FUNDING ROUND
Courtesy of the Ottawa Business Journal
Tetra Bio-Pharma raised a few extra million dollars this week, as the Orléans-based firm announced an expansion into the European medical cannabis market.
The local cannabinoid drug developer closed a bought-deal financing round of $11.5 million on Monday after upsizing its original plans to raise $8 million. Echelon Wealth Partners served as underwriters on the round.
Tetra says it intends to use the round to advance clinical testing on a cannabis-based pain-relief therapy for cancer patients.
On Tuesday, the firm also announced an expansion into the European cannabis market. The firm’s development and manufacturing partner PS Innovations is seeking European regulatory approval on its inhaler devices, which purport to mitigate pain for medical patients through a blend of cannabis strains.
“This is significant for Tetra since there are a number of European countries, with Germany at the forefront, where medical cannabis has been legalized,” said Bernard Fortier, Tetra’s CEO, in a statement.
Shares of Tetra Bio-Pharma (TSX-V:TBP) closed at $0.92 on Tuesday, an increase of roughly 10 per cent since the week began. That’s well below the firm’s all-time high of $1.71, however, which it hit in January of this year. Shares of many Canadian cannabis firms took a tumble around that time.
On Thursday November 1,st 2018 Miles S. Nadal and Peerage Capital were honoured to host Canada’s 22nd Prime Minister Stephen J. Harper for an intimate fireside discussion and book signing of Mr. Harper’s new publication, Right Here Right Now. Nadal warmly engaged Harper in a compelling and entertaining 45-minute exchange.
Having earned his success in the eat-or-be-eaten competitive marketing and communications industry, Miles Nadal is a decorated award winner and icon in the business community. He is best known as a self-starter whose business acumen has led to a life now dedicated to giving back. Miles champions Canadian entrepreneurs who demonstrate perseverance, vision and drive. He also supports numerous charitable projects dedicated to health, education and children’s welfare. Miles Nadal personifies Winston Churchill’s quote, “we make a living by what we get, but we make a life by what we give.”
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