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Tilray Inc
Symbol TLRY
Shares Issued 446,156,841
Close 2021-12-07 C$ 11.94
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IntelGenx says Tilray oral film breaches agreement

2021-12-08 10:31 ET - News Release

See News Release (C-IGX) IntelGenx Technologies Corp

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 (tetrahydrocannabinol) and CBD-rich (cannabidiol) 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, chief executive officer of IntelGenx.

About IntelGenx Technologies Corp.

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's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including research and development, 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.

We seek Safe Harbor.

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