Tetra Bio-Pharma Inc (TSX:TBP) (OTCQB:TBPMF) (FRA: JAM1), cannabinoid-based drug developer, has signed a licensing agreement with Thorne Health Tech, Inc. (NASDAQ:THRN) for the commercialization of its patent protected prebiotic dietary supplement in the U.S. market. The agreement will include royalty on sales and milestone payments.
According to Global Marketing Insights, the prebiotics market size in the United States is expected to exceed $9.5 billion by 2027 with a strong CAGR of 9.6% in 2021.
"Thorne has an established reputation as a world leader in the sales and distribution of evidence-based supplements for consumer self-care and physician-directed therapies and Tetra is excited to partner with them to bring this product to market," said Guy Chamberland, CEO of Tetra Bio-Pharma.
Price Actions
Tetra Bio-Pharma shares closed Friday market session 10.96% lower at $0.0666 per share.
Thorne Health Tech shares closed Friday market session -2.00% lower at $4.9000 per share.
