IntelGenx Provides Update on Cannabis-Infused VersaFilm™ Program Following Recently Proposed Amendments to the Cannabis Act...
January 14 2019 - 8:00AM
Working with partner Tilray®, IntelGenx
aims to launch oral film products in late-2019
IntelGenx Corp. (TSX-V:IGX) (OTCQX:IGXT) (“IntelGenx”), a leading
oral drug delivery company, today provided an update on its
cannabis-infused VersaFilmTM product co-development program with
Tilray, Inc. (NASDAQ:TLRY) (“Tilray®”) following the Government of
Canada’s recently proposed amendments to the Cannabis Act (the
“Act”) that would authorize the sale of edible cannabis products.
“We are pleased with the timeliness of the
Canadian Government’s proposed amendments to the Act and we will be
participating in the public consultation process,” said Dr. Horst
G. Zerbe, President and CEO of IntelGenx.
“In addition to having the only Health Canada
licensed and GMP compliant facility for pharmaceutical oral film
manufacturing, IntelGenx has the competitive advantage of having
Tilray®, a global leader in cannabis production and distribution,
as both a partner and a shareholder,” continued Dr. Zerbe.
“Together, we will work to develop a cannabis-infused oral film
that complies with the proposed, and subsequently, the final
amendments to the Act such that we are ready for commercialization
shortly after the October 17, 2019 implementation deadline.”
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
infused with adult-use and medical cannabis. As the amended
cannabis regulations, which are expected to come into effect no
later than October 17, 2019, would allow adult-use consumers to
purchase edible products in Canada, IntelGenx and Tilray® are
working toward commercializing a cannabis-infused VersaFilm™
product in late-2019.
About IntelGenx
Established 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™ technology platform.
IntelGenx' highly skilled team provides
comprehensive pharmaceuticals services to pharmaceutical partners,
including R&D, analytical method development, clinical
monitoring, IP and regulatory services. IntelGenx' state-of-the-art
manufacturing facility, which was established for the VersaFilm™
technology platform, 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 Statements:
This document may contain forward-looking
information about IntelGenx' 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' 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' 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' 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.
For IntelGenx:
Stephen Kilmer
Investor Relations
(514) 331-7440 ext 232
stephen@intelgenx.com
Or
Andre Godin, CPA, CA
Executive Vice-President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
andre@intelgenx.com
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