Rolling right into the new year, Tetra Bio-Pharma Inc. (TSX VENTURE:TBP) announced on Tuesday the acquisition of the remaining shares of their subsidiary Phytopain Pharma Inc. The share purchase agreement, which represents 20 percent of Phytopain’s outstanding shares, calls for a purchase price of around $12 million in exchange for Phytopain becoming a wholly-owned subsidiary of Tetra. Chairman of the Board André Rancourt and Chief Scientific Officer Guy Chamberland signed the agreement with Tetra as controlling entities of the company.
December was a busy month for Tetra, beginning with CEO Bernard Fortier opening the Toronto Stock Exchange early in the month. By mid-December, the company signed a research and development agreement with Constance Therapeutics and received a National Sciences and Engineering Research Council of Canada (NSERC) grant for work at McGill University. More recently, Tetra announced a deal to monetize their subsidiary GrowPros MMP Inc., netting