CTT Pharma is suing Aurora for business damage
The cannabis giant suddenly terminated its collaboration.

Canadian cannabis giant Aurora Cannabis, Inc. (TSX: ACB) is being sued for allegedly breaking a contract with life science company CTT Pharmaceutical Holdings, Inc. (OTC: CTTH) SUED. On Thursday, CTT Pharma, Inc., a wholly-owned Canadian subsidiary, filed a lawsuit against the cannabis company in the Ontario Supreme Court. According to a statement from CTT, Aurora broke off a successful deal and abandoned the pharmaceutical company. CTT is seeking compensation for Aurora's denial of contractual obligations, including expenses, royalties owed, royalties lost, and damages. Aurora says she didn't do anything wrong and is ready to go to court to prove it. In a statement emailed to Mugglehead, Aurora spokeswoman Laura Gallant said, "The company believes it has behaved in accordance with all relevant agreements and denies these claims. The company intends to pursue a full defense against these lawsuits ". The partnership between the two companies began in February 2017 when CTT partnered with CanniMed Therapeutics, Inc. to bring CTT's dissolvable mouth strips to the medical market. Then, in May 2018, Aurora acquired CanniMed and took over the agreement with CTT. In September of that year, Aurora converted its $ 1 million bond into a 9 percent stake in CTT. That signaled that it was "a game for CTT," its CEO Cam Birge said in a September 2018 statement. Aurora's Dissolve Strips hit the medical market in October 2019. Back then, then-CEO Terry Booth praised his company's stripes and ability to work with tech companies to bring innovative product formats to market. In the same statement, Birge is quoted as saying he looks forward to reporting on recent progress in the coming quarters. In Thursday's statement, CTT said sales of the strips were strong - the first line of products sold out within 60 days - and that Aurora had met with CTT to discuss an expansion of the product line for the end of Q1 2020. But then Aurora said it was "unwilling to allocate further resources to the partnership, claiming the original agreement was no longer in effect. This step was surprising and disappointing, says Birge. "When Aurora suddenly claimed that the existing agreement was no longer in effect at a time when payments were due to CTT under the original agreement, the company had no choice but to appeal," he said. "Despite our best efforts to settle our differences amicably and constructively, we were unable to break the impasse and felt that we had no choice but to file a lawsuit to seek redress as much as possible for the benefit of our stakeholders. On Thursday, CTT also said it had named Aurora's former chief product officer, Shane Morris, to its advisory board. Morris was closely involved in the commercialization of the strips and can advise on product and market development as well as regulatory issues, the statement said. Morris joined Aurora in March 2018, leading development and regulatory oversight for Aurora Cloud, the first vape-ready oil cartridge ever launched under Health Canada regulations.





