As the October legalization of cannabis edibles in Canada nears, marijuana firms in the country have been working to develop a host of foods and beverages — from gummies to cannabis-infused pop — for the recreational market.

Now consumers will be able to experience the effects of cannabis in a new form: oral strips.


IntelGenx (TSXV:IGX,OTCQX:IGXT), an oral drug delivery company, is working with Tilray (NASDAQ:TLRY) to create cannabis-infused films for both recreational and medical use, with plans to distribute them across Canada later this year and internationally.

 

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The Investing News Network (INN) spoke with IntelGenx CEO Horst Zerbe and CFO Andre Godin about the newest addition to the realm of edible marijuana products.

Conventional methods of taking drugs — like swallowing pills — create a situation where the active ingredients reach the liver where they are “metabolically destroyed” before entering the bloodstream, said Zerbe. Oral films, however, circumvent that issue.

“Oral absorption of the active (ingredient), whether that be (tetrahydrocannabinol) or (cannabidiol), leads to a direct migration of the active (ingredient) into the bloodstream,” Zerbe told INN. “The result is more drugs available for … therapeutic activities.”

He added that the company’s use of its VersaFilm technology will contain a carefully measured amount of the drug, offering precise dosing and reduced side effects to consumers, and will be packaged individually in child-proof pouches.

Zerbe said the cannabis film is intended to ensure the rapid onset of action once the drug is absorbed into the oral mucosa, the membrane that lines the inside of the mouth.

The Quebec-based pharmaceutical company inked the letter of intent with Tilray in September last year, agreeing to split the funding costs 80/20, with Tilray taking on the majority of the research and development and commercialization expenses. Though the products will be co-developed by both companies, Tilray will have exclusive distribution and marketing rights.

As a part of the deal, Tilray purchased 1.25 million common shares of IntelGenx at US$0.80 each.

The cannabis strips are set to be IntelGenx’s first commercial oral film product and will be marketed as adult-use items.

IntelGenx set out on this journey in earnest with Zerbe, the co-inventor of Listerine strips, at its helm earlier this year when it received its first shipment of cannabis extract from Tilray in May. In the months since, IntelGenx has been successful in infusing the strips with cannabis, adjusting for performance parameters like dissolve rate and residue, and is currently working on final improvements.

Before cannabis became legal in Canada, IntelGenx conducted research on the marijuana market in September 2018, the results of which encouraged the firm to further its research.

 

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An online survey of 1,000 Canadians aged 19 to 80 found that 78 percent of people were likely to try a cannabis-infused dissolvable film for recreational use. That number jumped to 86 percent when people were asked about the likelihood of them using a film for medical purposes.

The research also found the appeal of oral films lies in their ease of use, discreetness and lack of harmful smoke.

Godin said the company was surprised by the results. After the market research, IntelGenx was approached by several cannabis companies before choosing to partner with Tilray. Godin cited the company’s medical program as a selling point.

However, the company faced a setback in April this year when the US Food and Drug Administration (FDA) issued a complete response letter to the pharmaceutical firm’s new drug application for Rizaport, a film created for migraine treatment. The federal agency requested more information for the chemistry, manufacturing and controls sections of the application.

IntelGenx’s shares dropped to C$0.70 from C$0.90 when news of the letter broke. Its share price sat at C$0.55 as of 10:05 a.m. EDT on Wednesday (September 4), a value decrease of almost 40 percent.

In its results for Q2 of this year, IntelGenx reported revenues of C$197,000, down from the C$234,000 reported in Q2 last year. The company attributed the decrease to a loss of research and development revenue. There was also a net loss of C$2.5 million for this quarter. Cash and short-term investments, however, were at C$6.1 million as of the quarter’s end, up from C$3.7 million in 2018’s Q2.

Godin ascribed some of the pressure on the stock to the FDA’s letter, saying the market “overreacted” to the news. He added that the company is prepared to resubmit its application for the migraine film this month.

The launch of the cannabis oral strips is expected to have a positive share price impact, Godin continued.

The executive also said IntelGenx’s position as a pharmaceutical company ensures its edible products will be made under good manufacturing practices, setting it apart from other edible producers.

Zerbe mentioned that, though the first round of cannabis films to hit the market will be for adult use, further forms of the strips will be directed at medical patients.

“We see immense potential in the medical space,” said Zerbe, adding that a cannabis film can be used to address conditions including schizophrenia and Parkinson’s disease.

Apart from marijuana films, IntelGenx is expected to launch strips for migraines and erectile dysfunction between 2020 and 2021.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

 

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Zelira TherapeuticsLtd (ASX:ZLD,OTCQB:ZLDAF), a global leader in the research and development of clinically validated cannabinoid medicines, is pleased to announce that it has raised a total of US$5 million from Quincy Street Capital LLC (Quincy Street), a US-based family office fund, comprising:

  • US$3.5 million (A$4.79 million) via a placement of 79,908,676 Zelira fully paid ordinary shares at A$0.06 per share (Placement), a 54% premium to the stock’s last closing price
  • 1 unlisted option for every 2 ordinary shares issued, expiring 2 years from the date of issue with an exercise price of A$0.09 per option, with 39,954,338 total unlisted options to be issued
  • US$1.5 million (A$2.05 million) via an equity investment in Ilera Derm LLC (ZeliraDermatology) for a 3% shareholding in that company, valuing Zelira Dermatology at US$50 million.
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Avicanna Inc. (” Avicanna ” or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that it has closed a non-brokered private placement (the ” Offering “). Under the Offering, the Company has issued an aggregate of 4,587,022 units (the ” Units “) at a price of CAD$0.85 per Unit for aggregate gross proceeds of approximately CAD$3.9 million.

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Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (“Nextleaf”, “OILS”, or the “Company”), a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids, is pleased to announce the Company has entered into a supply agreement with Quebec-based licensed producer Medicibis (“Mendo”) to supply its medical platform www.Mendocannabis.ca with Glacial Gold™ branded products.

Mendo operates an online portal for medical patients that ships nationwide through www.Mendocannabis.ca. Glacial Gold™ CBD and THC vapes and distilled oils will be distributed by Mendo to their medical cannabis clients in Quebec and across Canada.

Quebec is the third-largest cannabis market in Canada, representing approximately 15%[1] of Canadian cannabis retail sales in the country, and approximately 22% of the Canadian population[2].

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5347/100149_54a84d0cc4d15940_001.jpg
Figure 1: Glacial Gold CBD and THC Vapes and Distilled Oils

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5347/100149_54a84d0cc4d15940_001full.jpg

Canadian spending on medical cannabis totaled $587 million in 2020[3]. Medical cannabis has become an important component of Canadian healthcare, with $119 million of medical cannabis purchases reimbursed by the Federal Government through Veterans Affairs Canada in 2020[4]. Despite Canada’s progressive cannabis regulation, price is still a major barrier for many medical patients.

Nextleaf leverages its patented high-efficiency ingredient processing technology to gain a competitive advantage and improve cannabis oil economics through the low-cost production of cannabis distillate standardized for potency and purity.

“Launching accessibly priced Glacial Gold™ vapes and distilled oils in Canada’s medical market and in Quebec have been important milestones for Nextleaf. We believe Mendo and their Quebec-based medical platform is positioned to become one of the leading suppliers of medical cannabis to patients and veterans in this country,” said Paul Pedersen, co-founder and CEO of Nextleaf Solutions. “Our innovative technology enables us to produce high purity ingredients at a low cost per molecule to offer patients quality CBD and THC products.”

“We are delighted to work with Nextleaf to offer Glacial Gold™ products through our recently expanded national portal, accessible by medical patients Canada-wide,” said Jay Schwartz, Director of Mendo Medical. “We are excited to feature the seven Glacial Gold™ SKUs that launched last month in British Columbia and to help them launch two new CBD SKUs that we think patients will be eager to experience.”

Nextleaf launched its award-winning, prohibition-era brand Glacial Gold™ in British Columbia last month, receiving national attention for quality products at disruptive price points. Included in the initial launch of Glacial Gold™ were seven total SKUs, consisting of four 1-gram vape SKUs and three distilled oil SKUs.

Glacial GoldDistilled CBD 50 Oil, Distilled THC 30 Oil, and Distilled 30:30 Blend feature high-purity distillate in a base of organic coconut MCT oil for a premium consumption experience, without premium pricing. A clean tasting and neutral oil allows for the greatest flexibility in use and consumption occasions.

The initial vape lineup from Glacial Gold is offered in two potency levels to match the consumer’s tolerance level or consumption occasion. The Session THC Vape features a full potency THC profile for cannabis enthusiasts who seek a more elevated experience and connection. The Anytime 1:1 Vape is formulated with a balanced THC and CBD profile for consumers looking for a more moderate, go-to vape.

About Medicibis

Medicibis is a federally licensed producer of dried cannabis and distributes its products under the brand name ENDO. Medicibis operates out of its 20,000 sq.ft. facility located 15 minutes from downtown Montreal in St Jean Sur Richelieu. Medicibis operates an online portal for medical patients that ships nationwide through their website mendocannabis.ca. Mendo’s menu has been carefully curated to offer a variety of products from licensed producers from all over Canada. Mendo is positioned to become one of the leading suppliers of medical cannabis to patients and veterans in the country.

About Nextleaf®

Nextleaf is a federally regulated producer of cannabis oil that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids. Nextleaf distributes cannabis vapes and distilled oils under its award-winning prohibition-era brand, Glacial Gold™, and supplies cannabis distillate to its wholesale customers. Nextleaf’s proprietary closed-loop automated extraction plant in Metro Vancouver efficiently transforms cannabis and hemp grown in B.C. and throughout Canada into high-purity cannabis distillate at an industrial scale. Nextleaf is developing delivery technology and differentiated cannabinoid-based formulations through its Health Canada Research Licence with sensory evaluation of cannabis via human testing. The Company owns 17 U.S. patents and has been issued 95 patents globally.

Nextleaf Solutions trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States, and L0MA on the Frankfurt Stock Exchange.

Follow the Company across social platforms: Twitter, LinkedIn, Facebook, and Instagram.
www.nextleafsolutions.com

Follow Glacial Gold™ across social platforms: Instagram, Twitter, and Facebook. www.Glacial.Gold

For more information please contact:
Jason McBride, Corporate Development
604-283-2301 (ext. 219)
jason@nextleafsolutions.com

On behalf of the Board of Directors of the Company,
Paul Pedersen, CEO

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company’s ability to capitalize on its IP portfolio, the Company’s strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s MD&A for the most recent fiscal period. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law. The CSE has not reviewed or approved the contents of this press release.

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Naturally Splendid Enterprises Ltd. (“Naturally Splendid“, “NSE” or “the Company”) (FRANKFURT:50N) (TSXV:NSP) (OTC:NSPDF) is pleased to announce the latest shipping container of NATERA Plant Based Foods from Australia has been received

In this shipment, we are excited to receive new SKUs including plant-based “Chick-Un Wings & Drumettes’ and a new Plant Based “Spicy Chick-Un Burger” that will be introduced to the Canadian Consumer. We also continue to receive more of our existing NATERA Plant Based Foods Breaded Cutlets (Schnitzel), Stuffed Chick-Un Breast (Garlic & Butter Flavoured), Sweet Chili Chick-Un Tenders, Seasoned Chick-Un Tenders, Chick-Un Nuggets, Chick-Un Patties, Crispy Fish-Un Fillets, Garlic Chick-Un Bites (Garlic & Butter Flavoured) and Cheesy Chick-Un Bites.

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The ongoing volatility seen in the cannabis investment market has left one of the most promising areas in the entire space in a bind.

Executives and investment experts across the market told the Investing News Network (INN) in recent conversations that the current style of cannabis investing can’t support the goals of publicly traded medical cannabis researchers and drug makers.

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