IntelGenx and Tilray® Agree to Amend Certain Exclusivity Terms of Worldwide Cannabis-Infused VersaFilm® Agreement
SAINT LAURENT, Quebec, July 20, 2020 (GLOBE NEWSWIRE) — IntelGenx Corp. (TSX V:IGX)(OTCQB:IGXT) (the “Company” or “IntelGenx”) today announced that it and Tilray, Inc. (“Tilray®”) have amended the exclusivity terms of their November 2018 license, development and supply agreement (the “Agreement”) to allow for IntelGenx’s co-development and commercialization of CBD products with additional partners. In consideration, IntelGenx shall pay a royalty to Tilray on all CBD products sold pursuant to this amendment. All other terms of the Agreement, including those pertaining to Tilray’s exclusive, worldwide marketing and distribution rights for non-CBD cannabis-infused VersaFilm®, remain unchanged.
“Since obtaining our cannabis micro-processing license from Health Canada a few weeks ago, we have received numerous expressions of interest from cannabis industry players in our drug delivery platforms and manufacturing capabilities, as we continue to have the only Health Canada licensed and GMP compliant facility for pharmaceutical film manufacturing,” commented Dr. Horst G. Zerbe, CEO of IntelGenx. “While we continue to work with Tilray® to align on the timing of a potential commercial launch of our first co-developed cannabis-infused VersaFilm® product, we are now actively seeking other potential partners to commercialize CBD-containing film products targeting the health and wellness market in Canada.”About IntelGenxIntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.IntelGenx’s superior film technologies, including VersaFilm® and VetaFilm™, as well as its transdermal development and manufacturing capabilities, 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 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’ ability to find a new partner and commercialize cannabis containing film products and 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 OTCQB 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
(514) 331-7440 ext 232
[email protected]OrAndre Godin, CPA, CA
President and CFO
(514) 331-7440 ext 203