- IntelGenx (IGX) is moving forward with an arbitration proceeding against Tilray
- Related to an alleged breach of worldwide cannabis-infused VersaFilm agreement
- This follows a recent launch of medical cannabis oral strips in THC and CBD-rich varieties based on a competitive oral thin film technology
- IntelGenx believes this represents a material breach of the agreement
- IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films
- IntelGenx Corp. (IGX) is trading at C$0.60 at 12:20 pm EST
IntelGenx Corp (IGX) has initiated an arbitration proceeding against Tilray, Inc.
The proceeding is related to an alleged breach of the parties’ 2018 license, development and supply agreement 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,” said Dr. Horst G. Zerbe, CEO of IntelGenx.
“Making our innovative and high-quality oral thin-film products available to medical and recreational cannabis consumers remains a top priority for IntelGenx,” added Dr. Horst G. Zerbe.
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 Corp. (IGX) is trading at C$0.60 at 12:20 pm EST.
