- Agreement Adds 26 Countries to Commercial Territory, with Initial Sales Expected in Early 2021-
SAINT LAURENT, Quebec, Aug. 27, 2020 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX V:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today announced that it has granted Exeltis Healthcare, S.L. (“Exeltis”) an exclusive license to manufacture and commercialize RIZAPORT®, a unique oral thin film for the treatment of acute migraines, in the European Union (“EU”).
In July 2016, IntelGenx and Grupo Juste S.A.Q.F. (now Exeltis) entered into an exclusive license agreement for the commercialization of RIZAPORT® in Spain. Under the terms of the current agreement, IntelGenx will grant Exeltis an exclusive license to manufacture and commercialize RIZAPORT® in the EU. Exeltis will pay IntelGenx prespecified royalties on net RIZAPORT® sales in the EU. In addition, IntelGenx has a right of first refusal to manufacture the Product for the EU market.
“The addition of 26 European countries to our existing commercialization partnership with Exeltis is a testament to the potential of RIZAPORT® as a new therapeutic option for the treatment of acute migraines,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “The European migraine drug market was valued at more than US $1 billion in 2019 and is expected to approach US $1.5 billion by 2024,1 so there is a clear need for more convenient treatments than those that are currently available. We are looking forward to continuing to work with Exeltis to expand our geographic footprint and bring this therapy to patients in new markets.”
“We are excited to expand our RIZAPORT® commercialization partnership with IntelGenx to bring this innovative, easy-to-administer treatment to patients across Europe,” said Alberto Fabregas, Managing Director of Exeltis Healthcare. “We believe RIZAPORT® is a particularly attractive option for migraine patients, especially the 80% that suffer from migraine-related nausea. We are looking forward to continued collaboration with IntelGenx, and to launching RIZAPORT® in at least one major market early next year.”
1 Market Data Forecast. “Europe Migraine Drug Market Industry Report 2019-2024. Market Data Forecast, 18 Aug. 2020, www.marketdataforecast.com/market-reports/europe-migraine-drug-Market.
About Exeltis Healthcare S.L.
Exeltis is a fast-growing division of the integrated health sciences group Insud Pharma. With a global footprint spanning over 40 countries, Exeltis has a team of more than 4,000 professionals supported by a global manufacturing network. It boasts a leadership position in the Women’s Health segment, offering an extensive portfolio of products to respond to women’s needs in the areas of fertility, reproductive health, contraception, pregnancy, childbirth and menopause. In WHC, Exeltis’ overarching goal is to support and care for women throughout every stage of life. In recent years, Exeltis has also diversified into Central Nervous System (CNS) as a core area of growth. Some indications, as migraine, are prioritized due to its synergy with WHC.
IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.
IntelGenx’s superior film technologies, including VersaFilm® and VetaFilm™, as well as its transdermal development and manufacturing capabilities, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.
IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.
Forward Looking Statements:
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Source: IntelGenx Technologies Corp.
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