Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) announced that it has placed its first purchase order with IntelGenx Corp (CVE:IGX) (OTCQB:IGXT) for 50,000 CBD Filmstrips, as part of a definitive agreement to supply the Canadian and Australian markets.
IntelGenx expects to make its first shipment of the filmstrip products, which are manufactured using IntelGenx’s VersaFilm technology and contain 10 mg of CBD, to Heritage in 2Q 2021.
“Rapidly dissolving CBD Filmstrips provide tangible benefits for medical cannabis consumers by providing a more discreet and convenient administration method,” said Heritage Cannabis President of the Medical and International Division Umar Syed in a statement.
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He added: “As we continue to build a wide spectrum of medical cannabis products that offer both traditional and newer delivery platforms, we are excited to be at the stage where we will be distributing CBD Filmstrips in Canada and Australia.”
IntelGenx CEO Dr. Horst G. Zerbe also weighed in on the agreement, stating: “We believe this first-ever purchase order for commercial quantities of an oral thin film product based on our VersaFilm technology represents a value inflection point for our company. We are looking forward to building a strong partnership with Heritage, which shares our commitment to making innovative and high-quality oral thin film products available to medical cannabis consumers.”
Heritage Cannabis said the filmstrips will be sold in select provincial retailers and the direct-to-consumer medical channel in Canada.
The company noted that the CBD Filmstrips, which dissolve orally, are meant to enable better and faster absorption than oral tinctures and capsules and will be formulated with both CBD and CBDA, as CBDA has shown more potent activity at 5-HT1A (serotonin) receptors in published studies.
Heritage also said it will supply CBD material for IntelGenx’s filmstrip manufacture and supply in Canada and Australia on a non- and semi-exclusive basis, respectively, as part of the agreement, which also contemplates an option on future co-development of CBD and THC filmstrips using proprietary technology from both companies.
The CBD Filmstrips will be produced at IntelGenx’s manufacturing facility under Canadian GPP conditions and registered as a product for sale with Health Canada as a cannabis product governed by the Cannabis Act and with the Australian Department of Health’s Therapeutic Goods Administration as a medicinal cannabis product governed by the Narcotic Drugs Act.
Heritage Cannabis is a vertically-integrated cannabis provider that currently has two Health Canada approved licensed producers, through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp., both of which are regulated under the Cannabis Act Regulations.
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Story by ProactiveInvestors
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