MJ Biz reports on a series of complaints brought by the plaintiff
Aurora Cannabis is being taken to court by CTT Pharma, a Canadian developer of drug-delivery technologies that alleges the marijuana giant is making a bad faith effort to avoid paying what it owes under a licensing agreement.
A statement of claim filed Aug. 26 in the Ontario Superior Court of Justice names Aurora Cannabis and its subsidiary CanniMed Therapeutics as defendants.
According to the statement of claim, Ontario-based CTT Pharma entered a 15-year licensing agreement with CanniMed in early 2017 to make and sell sublingual cannabis products using CTT’s patented rapid-onset Oral Dissolvable Thin Film technology.
CanniMed paid CTT a US$40,000 fee upon execution of the agreement, but CTT says a further payment worth US$935,000 upon Health Canada approval of the products went unpaid, along with patent maintenance fees worth more than CA$150,000.
On top of that, CTT alleges that Aurora owes unpaid royalties on sales made under the licensing agreement and failed to open its books to show CTT its relevant sales.
Finally, CTT claims it is owed compensation for the loss of future royalties it expected to earn over the course of the 15-year licensing deal, amounting to US$39.5 million.
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