Initiates Arbitration Proceeding Against Tilray® SAINT LAURENT, Quebec, Dec. 08, 2021 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX:IGX) (OTCQB:IGXT) (the "Company" or "IntelGenx") today announced that it has initiated an arbitration proceeding against Tilray, Inc. (“Tilray®”) related to an alleged breach of the parties’ 2018 license, development and supply agreement, as amended (the “Agreement”), with Tilray® for the co-development and commercialization of cannabis-infused VersaFilm® products.
The action follows a recent press release issued by Tilray® announcing its launch of medical cannabis oral strips in THC and CBD-rich varieties based on a competitive oral thin film technology to IntelGenx’s VersaFilm® platform. IntelGenx believes this represents a material breach of the Agreement.
“We believe that this demonstrates a disregard of contractual obligations by Tilray. We remain committed to protecting our commercial rights and are prepared to take any necessary legal steps in that regard. Making our innovative and high-quality oral thin film products available to medical and recreational cannabis consumers remains a top priority for IntelGenx,” said Dr. Horst G. Zerbe, CEO of IntelGenx.
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.
https://www.globenewswire.com/news-release/2021/12/08/2348239/0/en/IntelGenx-Initiates-Arbitration-Proceeding-Against-Tilray-Related-to-an-Alleged-Breach-of-Worldwide-Cannabis-Infused-VersaFilm-Agreement.html