IntelGenx Announces Co-development and Commercialization of Cannabinoid-Infused VersaFilm® Products with Tilray

Rhea-AI Summary

IntelGenx Corp. has announced a further amendment to their agreement with Tilray Brands Inc. for the co-development and commercialization of cannabinoid-infused VersaFilm® products. The amendment includes an initial purchase order for three SKUs totaling 130,000 filmstrips and allows for the co-development and commercialization of CBD, THC, and combination THC:CBD products with additional partners. The agreement also removes any royalties paid to or from Tilray.

IntelGenx to Manufacture and Supply Three New Filmstrip Products: CBD20, THC10, and THC10:CBD10

SAINT LAURENT, Quebec, Nov. 06, 2023 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today announced that it and Tilray Brands Inc. (“Tilray”) have entered into a further amendment (the “Second Amendment”) to their November 2018 license, development and supply agreement for the co-development and commercialization of cannabinoid-infused VersaFilm^® products, settling IntelGenx’s arbitration claim against Tilray.

Pursuant to the Second Amendment, IntelGenx has received an initial purchase order from Tilray for three SKUs (CBD20, THC10, THC10:CBD 10), with each SKU totalling 130,000 filmstrips. The Second Amendment also allows for IntelGenx’s co-development and commercialization of CBD (pursuant to a previous amendment), THC, and combination THC:CBD products with additional partners. The Second Agreement removes any royalties paid to or from Tilray.

“This partnership and settlement represent a significant milestone in building our relations with Tilray, and we are excited to begin this new chapter of the companies making innovative cannabinoid-infused oral thin film products available to consumers,” said Dwight Gorham, IntelGenx’s CEO.

About IntelGenx

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 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 Information and 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.

Source: IntelGenx Technologies Corp.

For IntelGenx:

Stephen Kilmer
Investor Relations
(647) 872-4849
stephen@kilmerlucas.com

Or

Andre Godin, CPA, CA
President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
andre@intelgenx.com

FAQ

What is the amendment between IntelGenx and Tilray about?

The amendment is for the co-development and commercialization of cannabinoid-infused VersaFilm® products.

What does the initial purchase order include?

The initial purchase order includes three SKUs totaling 130,000 filmstrips.

What products can IntelGenx co-develop and commercialize?

IntelGenx can co-develop and commercialize CBD, THC, and combination THC:CBD products with additional partners.

Are there any royalties involved in the agreement?

No, the agreement removes any royalties paid to or from Tilray.

Who is the CEO of IntelGenx?

The CEO of IntelGenx is Dwight Gorham.