Dr. Horst Zerbe of IntelGenx reports INTELGENX INITIATES ARBITRATION PROCEEDING AGAINST TILRAY RELATED TO AN ALLEGED BREACH OF WORLDWIDE CANNABIS-INFUSED VERSAFILM AGREEMENT
IntelGenx Corp. has initiated an arbitration proceeding against Tilray Inc. related to an alleged breach of the parties' 2018 licence, development and supply agreement, as amended, 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.