SAINT LAURENT, Quebec, May 28, 2019 (GLOBE NEWSWIRE) -- IntelGenx Corp. (IGX.V) (IGXT) (“IntelGenx”), a leading oral drug delivery company, today provided an update on its cannabis-infused VersaFilm® product co-development program with Tilray, Inc. (TLRY) (“Tilray®”), a global leader in cannabis research, cultivation, production, and distribution.
IntelGenx recently received the first shipment of cannabis extract from Tilray, providing it with sufficient quantities to commence batch production of cannabis-infused VersaFilm®. This supply of cannabis extract allows us to advance development and production of Cannabis-Infused VersaFilm® products, marking an important milestone for the co-development program. Cannabis-infused VersaFilm® products are intended to be launched as soon as reasonably possible after the October 17, 2019 implementation deadline for the Government of Canada’s Cannabis Act amendments that will authorize the sale of new classes of cannabis products, including extracts and edibles.
“IntelGenx remains the only company to have successfully established a Health Canada licensed and GMP compliant facility for pharmaceutical oral film manufacturing,” said Horst G. Zerbe, CEO of IntelGenx. “We believe that, in addition to enabling IntelGenx and our partner, Tilray, to offer cannabis products of the highest quality, this provides the companies with a valuable first-mover advantage in the space.”
“We are very pleased with the progress of this program and look forward to commercializing our cannabis-infused VersaFilm® product,” said Woody Pastorius, Chief Revenue Officer of Tilray. “Together with IntelGenx, we are focused on innovation and delivering the best quality products to the market, as legislation allows.”
Under the terms of the development and supply agreement IntelGenx entered into with Tilray in November 2018, the companies will co-develop and commercialize oral film products for the Canadian cannabis market.
Established in 2003, IntelGenx is a leading oral drug delivery company primarily focused on the development and manufacturing of innovative pharmaceutical oral films based on its proprietary VersaFilm® and VetaFilm™ technology platforms.
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, which was established for oral film technology platforms, offers by supporting lab-scale to pilot- and commercial-scale production. More information about the company can be found at 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. 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. 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.
This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements or forward-looking-information in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, including without limitation statements in respect to Tilray’s intention to supply product or commercialize novel form factors. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment and future approvals and permits. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Please see the heading “Risk Factors” in Tilray’s Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission and Canadian securities regulators on May 15, 2019, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements. Tilray does not undertake and specifically declines any obligation to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
Source: Tilray Inc.
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Andre Godin, CPA, CA
President and CFO
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