CTT Pharmaceutical Holdings Inc (CTTH)

[blueyedguy]

NEWS: CTT Pharma Files Statement of Claim against Aurora Cannabis and Appoints Dr. Shane Morris to Advisory Board
Today 7:30 AM ET (PR NewsWire)Print

CTT Pharmaceutical Holdings, Inc., (OTC: CTTH), an innovative life sciences company with a portfolio of IP in novel drug delivery systems, today announced that its wholly owned Canadian subsidiary, CTT Pharma Inc. (the "Company" or "CTT"), has filed a statement of claim with the Ontario Superior Court of Justice against Aurora Cannabis. The Company is seeking compensation for Aurora's denial of contractual commitments with CTT, which includes expenses, royalties due, lost royalties and damages.

CTT's patented sublingual cannabis-infused strips were successfully launched into the Canadian medical cannabis market, under the brand name Aurora Dissolve Strips, as announced on October 8, 2019. Despite rapid sales of the Dissolve Strips and continued demand from patients, as well as several planning meetings to discuss an expanded product line and production planned for the end of Q1, 2020, Aurora indicated subsequently that it was unwilling to commit further resources to the partnership and claimed the original agreement was no longer in force.