IntelGenx Receives First Shipment of Cannabis Extract from Tilray® for Production of Cannabis-Infused Oral Film
May 28 2019 - 8:00AM
IntelGenx Corp. (TSX-V:IGX) (OTCQX:IGXT) (“IntelGenx”), a leading
oral drug delivery company, today provided an update on its
cannabis-infused VersaFilm® product co-development program
with Tilray, Inc. (NASDAQ:TLRY) (“Tilray®”), a global leader in
cannabis research, cultivation, production, and distribution.
IntelGenx recently received the first shipment
of cannabis extract from Tilray, providing it with sufficient
quantities to commence batch production of cannabis-infused
VersaFilm®. This supply of cannabis extract allows us to advance
development and production of Cannabis-Infused VersaFilm® products,
marking an important milestone for the co-development program.
Cannabis-infused VersaFilm® products are intended to be launched as
soon as reasonably possible after the October 17, 2019
implementation deadline for the Government of Canada’s Cannabis Act
amendments that will authorize the sale of new classes of cannabis
products, including extracts and edibles.
“IntelGenx remains the only company to have
successfully established a Health Canada licensed and GMP compliant
facility for pharmaceutical oral film manufacturing,” said Horst G.
Zerbe, CEO of IntelGenx. “We believe that, in addition to enabling
IntelGenx and our partner, Tilray, to offer cannabis products of
the highest quality, this provides the companies with a valuable
first-mover advantage in the space.”
“We are very pleased with the progress of this
program and look forward to commercializing our cannabis-infused
VersaFilm® product,” said Woody Pastorius, Chief Revenue
Officer of Tilray. “Together with IntelGenx, we are focused on
innovation and delivering the best quality products to the market,
as legislation allows.”
Under the terms of the development and supply
agreement IntelGenx entered into with Tilray in November 2018, the
companies will co-develop and commercialize oral film products for
the Canadian cannabis market.
About IntelGenxEstablished in
2003, IntelGenx is a leading oral drug delivery company primarily
focused on the development and manufacturing of innovative
pharmaceutical oral films based on its proprietary VersaFilm® and
VetaFilm™ technology platforms.
IntelGenx's highly skilled team provides
comprehensive pharmaceuticals services to pharmaceutical partners,
including R&D, analytical method development, clinical
monitoring, IP and regulatory services. IntelGenx's
state-of-the-art manufacturing facility, which was established for
oral film technology platforms, offers by supporting lab-scale to
pilot- and commercial-scale production. More information about the
company can be found at www.intelgenx.com.
Forward Looking StatementsThis
document may contain forward-looking information about IntelGenx's
operating results and business prospects that involve substantial
risks and uncertainties. Statements that are not purely historical
are forward-looking statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and Section 27A of
the Securities Act of 1933, as amended. These statements include,
but are not limited to, statements about IntelGenx's plans,
objectives, expectations, strategies, intentions or other
characterizations of future events or circumstances and are
generally identified by the words "may," "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates," "could,"
"would," and similar expressions. All forward looking statements
are expressly qualified in their entirety by this cautionary
statement. Because these forward-looking statements are subject to
a number of risks and uncertainties, IntelGenx's actual results
could differ materially from those expressed or implied by these
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to, those
discussed under the heading "Risk Factors" in IntelGenx's annual
report on Form 10-K, filed with the United States Securities and
Exchange Commission and available at www.sec.gov, and also
filed with Canadian securities regulatory authorities
at www.sedar.com. IntelGenx assumes no obligation to update
any such forward-looking statements. Each of the TSX Venture
Exchange and OTCQX has neither approved nor disapproved the
contents of this press release. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Source: IntelGenx Technologies Corp.
This press release contains “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and “forward-looking information”
within the meaning of Canadian securities laws, or collectively,
forward-looking statements. Forward-looking statements or
forward-looking-information in this press release may be identified
by the use of words such as, “may”, “would”, “could”, “will”,
“likely”, “expect”, “anticipate”, “believe, “intend”, “plan”,
“forecast”, “project”, “estimate”, “outlook” and other similar
expressions, including without limitation statements in respect to
Tilray’s intention to supply product or commercialize novel form
factors. Forward-looking statements are not a guarantee of future
performance and are based upon a number of estimates and
assumptions of management in light of management’s experience and
perception of trends, current conditions and expected developments,
as well as other factors that management believes to be relevant
and reasonable in the circumstances, including assumptions in
respect of current and future market conditions, the current and
future regulatory environment and future approvals and permits.
Actual results, performance or achievement could differ materially
from that expressed in, or implied by, any forward-looking
statements in this press release, and, accordingly, you should not
place undue reliance on any such forward-looking statements and
they are not guarantees of future results. Please see the heading
“Risk Factors” in Tilray’s Quarterly Report on Form 10-Q, which was
filed with the Securities and Exchange Commission and Canadian
securities regulators on May 15, 2019, assumptions, uncertainties
and other factors that may cause actual future results or
anticipated events to differ materially from those expressed or
implied in any forward-looking statements. Tilray does not
undertake and specifically declines any obligation to update any
forward-looking statements that are included herein, except in
accordance with applicable securities laws.
Source: Tilray Inc.
For IntelGenx:
Stephen Kilmer
Investor Relations
(514) 331-7440 ext 232
stephen@intelgenx.com
Or
Andre Godin, CPA, CA
President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
andre@intelgenx.com
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