SAINT LAURENT, Quebec, Oct. 21, 2020 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX-V:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today announced that it has entered into an amended and restated license agreement (the “Agreement”) granting Tetra Bio-Pharma (TSX:TBP)(OTCQB:TBPMF)(“Tetra”), a leader in cannabinoid-derived drug discovery and development, additional exclusive worldwide rights, including the right to manufacture, IntelGenx’s Adversa® mucoadhesive delivery technology.
The Adversa® technology is designed to limit first-pass metabolism, improve bioavailability, enhance product stability and reduce gastro-intestinal exposure and side-effects. Tetra will use the Adversa® technology to develop a THC-based mucoadhesive film containing its PPP-002 (Dronabinol) drug candidate for the treatment of chemotherapy-induced nausea and vomiting.
Under the terms of the Agreement, Tetra is purchasing the worldwide Adversa® technology rights as it relates to its PPP-002 (Dronabinol) drug product candidate for three undisclosed milestone payments: 45% to be paid on November 15, 2020; 45% to be paid on March 1, 2021, and a final payment of 10% upon successful technology transfer. In addition, Tetra will pay IntelGenx a low single digit royalty on future net sales of Dronabinol mucoadhesive tablets.
“This agreement reflects the many potential therapeutic benefits of our Adversa® delivery technology,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “In addition to being particularly well-suited for patients who have difficulty swallowing capsules – a common and unfortunate side effect of chemotherapy – Adversa® offers comparable efficacy to capsules, with a potentially superior side-effect profile.”
Steeve Néron, Tetra’s Chief Commercial Officer, commented, “We are looking forward to applying the Adversa® technology to our PPP-002 drug candidate with the goal of providing better therapeutic value for both patients with chemotherapy-induced nausea and vomiting and their caregivers.”
About Tetra Bio-Pharma
Tetra Bio-Pharma is a biopharmaceutical leader in cannabinoid-based drug discovery and development with FDA and Health Canada approved clinical programs aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. Our evidence-based scientific approach has enabled us to develop a pipeline of cannabinoid-based drug products for a range of medical conditions, including pain, inflammation, and oncology. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing biopharma industry by regulators, physicians and insurance companies. For more information visit: www.tetrabiopharma.com.
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 VevaDermTM, 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:
This document may contain forward-looking information about IntelGenx' operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about IntelGenx' plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "could," "would," and similar expressions. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx' actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in IntelGenx' annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities at www.sedar.com. IntelGenx assumes no obligation to update any such forward-looking statements.
Each of the TSX Venture Exchange and OTCQB has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: IntelGenx Technologies Corp.
(514) 331-7440 ext 232
Andre Godin, CPA, CA
President and CFO
(514) 331-7440 ext 203