Denmark-based biotech firm Tetra Pharm Technologies has introduced its first product in Germany.
The launch involves the firm’s XATEPA product, a pain-relieving pharmaceutical drug developed using cannabinoids.
The company aims to boost the sales of XATEPA as well as launch the drug in new markets in Europe and beyond in future.
Furthermore, the firm signed a deal with pharmaceutical and healthcare products wholesale distributor PHOENIX Pharma-Einkauf for distribution of XATEPA in Germany.
Tetra Pharm Technologies CEO Martin Rose said: “The launch of our first product represents an important and significant milestone for Tetra Pharm Technologies.
“From a business perspective, it gives us the opportunity to further strengthen the company’s long-term research and development efforts, which is our primary focus.”
The company primarily develops and produces pharmaceutical drugs that target the endocannabinoid system to treat neuropathic pain, sclerosis along with mental health disorders.
Tetra Pharm Technologies chief scientific officer Dr Morten Allesø said: “The suitability of the drug delivery system is often neglected at the expense of cannabinoid bioavailability.
“Our XATEPA sublingual spray is devised as a so-called enabling technology to provide optimal conditions for cannabinoid uptake and thus efficacy.
“From a pharmaceutical science perspective, we are indeed very proud of this achievement, and we look forward to launch more innovative products targeting the endocannabinoid system.”