IntelGenx Provides Status Update on Cannabis Micro-Processing License Application
SAINT LAURENT, Quebec, April 28, 2020 (GLOBE NEWSWIRE) — In response to investor and media inquiries, IntelGenx Technologies Corp. (TSX V:IGX)(OTCQX:IGXT) (the “Company” or “IntelGenx”) provided an update regarding its micro-processing license application for its Montreal, Quebec facility that is currently being reviewed by Health Canada, in accordance with the Cannabis Act and Cannabis Regulations.
“Based on recent conversations with Health Canada’s Controlled Substances and Cannabis Branch, which is reviewing our application, we were expecting to receive our micro-processing license sometime in April,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “Health Canada has continued to review applications for new cannabis licenses and security-clearance applications during the COVID-19 pandemic, however, as its staff are operating remotely with a limited ability to perform certain functions, we have to accept the possibility of a delay.”“The good news is that a delay, if any, should be temporary, and we remain confident that our micro-processing application will be approved,” continued Dr. Zerbe. “Once that happens, IntelGenx will be able to commence commercial production of cannabis-infused VersaFilm® for our partner, Tilray®. We look forward to providing further updates on our progress as developments unfold.”About IntelGenxlntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.IntelGenx’s superior film technologies, including VersaFilm®, VetaFilm™ and transdermal, 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’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, including, without limitation, anticipated commencement of commercial production of cannabis-infused VersaFilm® and how long operations can be funded based on current assets. 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. In addition, there is uncertainty about the spread of the COVID-19 virus and the impact it will have on IntelGenx’s operations, the demand for its products, global supply chains and economic activity in general. IntelGenx assumes no obligation to update any such forward-looking statements.Each of the TSX Venture Exchange and OTCQX 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