IntelGenx (TSXV:IGX; OTCQB:IGXT) signed a binding letter of intent (LOI) with Heritage Cannabis (CSE:CANN; OTCQX:HERTF) for the supply of CBD-containing filmstrip products for the Canadian and Australian markets.
Under the acccord, IntelGenx would manufacture 10 mg CBD filmstrips using its VersaFilm technology, for distribution and sale in Canada and Australia.
Heritage will supply the CBD material for IntelGenx’s filmstrip manufacture and supply in Canada and Australia on a non- and semi-exclusive basis, respectively. The CBD filmstrips will be produced at IntelGenx’s manufacturing facility under Canadian GPP conditions.
“This letter of intent further supports the potential of our VersaFilm technology to provide medical cannabis consumers with an alternative, more discreet and convenient administration method, with the possibility of a superior therapeutic profile,” Horst G. Zerbe Ph.D., CEO of IntelGenx, said in a statement.
Clint Sharples, CEO of Heritage, added, “We value this partnership with IntelGenx given their leadership in developing high quality pharmaceutical products with their proprietary filmstrip platforms. This supply deal is a first step in building a long-term relationship to develop high quality, data driven and well-tested products for the Canadian and international medical cannabis and hemp markets, including Australia and the United States.”