IntelGenx Announces Co-development and Commercialization of Cannabinoid-Infused VersaFilm® Products with Tilray
November 06 2023 - 8:30AM
IntelGenx Corp. (TSX:IGX)(OTCQB:IGXT) (the "Company" or
"IntelGenx") today announced that it and Tilray Brands Inc.
(“Tilray”) have entered into a further amendment (the “Second
Amendment”) to their November 2018 license, development and supply
agreement for the co-development and commercialization of
cannabinoid-infused VersaFilm® products, settling IntelGenx’s
arbitration claim against Tilray.
Pursuant to the Second Amendment, IntelGenx has
received an initial purchase order from Tilray for three SKUs
(CBD20, THC10, THC10:CBD 10), with each SKU totalling 130,000
filmstrips. The Second Amendment also allows for IntelGenx’s
co-development and commercialization of CBD (pursuant to a previous
amendment), THC, and combination THC:CBD products with additional
partners. The Second Agreement removes any royalties paid to or
from Tilray.
“This partnership and settlement represent a
significant milestone in building our relations with Tilray, and we
are excited to begin this new chapter of the companies making
innovative cannabinoid-infused oral thin film products available to
consumers,” said Dwight Gorham, IntelGenx’s CEO.
About IntelGenx
IntelGenx is a leading drug delivery company
focused on the development and manufacturing of pharmaceutical
films.
IntelGenx’s superior film technologies,
including VersaFilm®, DisinteQ™, VetaFilm® and transdermal
VevaDerm™, allow for next generation pharmaceutical products that
address unmet medical needs. IntelGenx’s innovative product
pipeline offers significant benefits to patients and physicians for
many therapeutic conditions.
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 offers full service by
providing lab-scale to pilot- and commercial-scale production. For
more information, visit www.intelgenx.com.
Forward-Looking Information and
Statements
This 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.
Source: IntelGenx Technologies Corp.
For IntelGenx:
Stephen KilmerInvestor Relations(647)
872-4849stephen@kilmerlucas.com
Or
Andre Godin, CPA, CAPresident and CFOIntelGenx Corp.(514)
331-7440 ext 203andre@intelgenx.com
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