A new collaboration to develop a cannabis-based treatment of brain cancer is a step in the right direction for Tetra Bio-Pharma (Tetra Bio-Pharma Stock Quote, Chart TSXV:TBP), according to Rahul Sarugaser, analyst for Paradigm Capital, who in a research note Thursday said TBP could become the next GW Pharma.
Clinical-stage biopharmaceutical company Tetra Bio-Pharma announced on Thursday a collaboration with Ontario biotech company Ovensa, one which will aim at a multi-cannabinoid therapy to treat brain cancer. The partnership will be good for TBP, says Sarugaser, who points out Ovensa’s positive attributes, such as its proprietary Triozan nano-medicine platform and its ongoing collaboration with Japanese pharma company Takeda Pharmaceuticals.
“This new venture represents a brand new area of clinical focus for TBP: treating cancer, as opposed to the treatment of cancer’s symptoms as in TBP’s pain studies. The preclinical and clinical evidence supporting the treatment of brain cancer using different cannabinoids is early but, indeed, compelling,” says Sarugaser.
The analyst is maintaining his “Buy” rating and 12-month target of $1.75, which represented a projected return of 146 per cent at the time of publication.
Sarugaser notes that the brain cancer program represents the eighth clinical program for TBP, each with drug candidates in its pipeline — a “true Pharma approach,” says the analyst.
“While many cannabis companies simply announce their intentions to pursue clinical trials, this pursuit has been the foundation of TBP’s operations from day one. TBP’s industry-leading research and deep knowledge of global regulatory structures are key drivers putting it at the vanguard of the cannabis biopharmaceutical arena,” he says.
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