Business
CTT Pharma Files Statement of Claim against Aurora Cannabis and Appoints Dr. Shane Morris to Advisory Board
CTT Pharma Files Statement of Claim against Aurora Cannabis and Appoints Dr. Shane Morris to Advisory Board.
About this update from Ctt Pharmaceutical Holdings, Inc.
[{"type":"text","content":"\n\n\n\nCTT Pharma Files Statement of Claim against Aurora Cannabis and Appoints Dr. Shane Morris to Advisory Board\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCTT Pharma Files Statement of Claim against Aurora Cannabis and Appoints Dr. Shane Morris to Advisory Board\nPR Newswire\nHAMILTON, ON, Aug. 27, 2020\n\n\n\nHAMILTON, ON, Aug. 27, 2020 /PRNewswire/ - 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.\nCTT'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that it was unwilling to commit further resources to the partnership and claimed the original agreement was no longer in force.  \n\"Following the successful technology transfer to Aurora and a very successful market introduction of the product, Aurora's decision to not continue our partnership was both surprising and disappointing\", stated Cam Birge, CEO of CTT. \"Aurora suddenly claiming that the existing agreement was no longer in force, at a time when payments were due to CTT under the original agreement, left the Company with no other choice than to seek a legal remedy. Despite our best efforts to resolve our differences amicably and constructively, we were not able to resolve the impasse and felt we had no other choice than to file a statement of claim seeking legal recour...