Globe Newswire 14-Jan-2019 8:00 AM
Working with partner Tilray®, IntelGenx aims to launch oral film products in late-2019
SAINT LAURENT, Quebec, Jan. 14, 2019 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSXV:IGX) (OTCQX:IGXT) ("IntelGenx"), a leading oral drug delivery company, today provided an update on its cannabis-infused VersaFilmTM product co-development program with Tilray, Inc. (NASDAQ:TLRY) ("Tilray®") following the Government of Canada's recently proposed amendments to the Cannabis Act (the "Act") that would authorize the sale of edible cannabis products.
"We are pleased with the timeliness of the Canadian Government's proposed amendments to the Act and we will be participating in the public consultation process," said Dr. Horst G. Zerbe, President and CEO of IntelGenx.
"In addition to having the only Health Canada licensed and GMP compliant facility for pharmaceutical oral film manufacturing, IntelGenx has the competitive advantage of having Tilray®, a global leader in cannabis production and distribution, as both a partner and a shareholder," continued Dr. Zerbe. "Together, we will work to develop a cannabis-infused oral film that complies with the proposed, and subsequently, the final amendments to the Act such that we are ready for commercialization shortly after the October 17, 2019 implementation deadline."
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 infused with adult-use and medical cannabis. As the amended cannabis regulations, which are expected to come into effect no later than October 17, 2019, would allow adult-use consumers to purchase edible products in Canada, IntelGenx and Tilray® are working toward commercializing a cannabis-infused VersaFilm™ product in late-2019.
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™ technology platform.
IntelGenx' highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx' state-of-the-art manufacturing facility, which was established for the VersaFilm™ technology platform, 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' 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' 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 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 Investor Relations (514) 331-7440 ext 232 firstname.lastname@example.org Or Andre Godin, CPA, CA Executive Vice-President and CFO IntelGenx Corp. (514) 331-7440 ext 203 email@example.com
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