IntelGenx Acquires Full Ownership and Exclusive Rights to MS Induced Pain Product
29 Novembro 2010 - 9:00AM
Marketwired
IntelGenx Corp. (TSX VENTURE: IGX)(OTCBB: IGXT) ("IntelGenx") today
announced that it has acquired exclusive rights to, and ownership
of, INT0010, an improved formulation of THC (dronabinol) for the
symptomatic management of Multiple Sclerosis (MS) induced
neuropathic pain and chemotherapy induced nausea. These markets are
multi-billion dollar markets worldwide, and believed to be growing.
IntelGenx entered into a royalty based licensing agreement with
PediPharm Ltd. Under the terms of the agreement, IntelGenx has
obtained worldwide rights to US Patent 7,592,328 and all
corresponding foreign patents and patent applications to
exclusively develop and further provide intellectual property
protection for INT0010. PediPharm would receive a signing fee and a
milestone payment upon IntelGenx securing a commercialisation
partner for the product, along with a royalty from all sales of the
product world-wide.
IntelGenx has also executed a binding Memorandum of
Understanding with Cynapsus Therapeutics ("Cynapsus"), its former
development partner whereby, for forgiveness of debt and a royalty
on future sales of the product, IntelGenx has acquired full control
of, and interest in, INT0010 going forward.
"We are very excited to have acquired full control and ownership
of INT0010 at this critical juncture in the product's development"
commented Horst G. Zerbe, President and Chief Executive Officer of
IntelGenx. "The product has already completed a successful Phase I
study demonstrating increased bioavailability of dronabinol and
reduced levels of its psychotropic metabolite versus the existing
FDA approved THC product. INT0010 is a unique, patent protected
formulation with the potential to become a billion dollar product.
We believe this is the right time for a commercial partner to step
in and advance the project and are currently in discussions with
several companies that have expressed an interest in
commercializing the product."
About INT0010:
INT0010 is an improved delivery option for THC (dronabinol) for
the symptomatic management of neuropathic pain. INT0010 delivers
more than twice the amount of dronabinol into the bloodstream
relative to the reference drug Marinol (as measured by AUC) but
only about one-half of the main metabolite 11-hydroxy
tetrahydrocannabinol which is mainly responsible for the
psychotropic effect of the drug. Thus the undesired CNS side
effects associated with dronabinol are expected to be reduced
significantly. INT0010 is formulated using patented and patent
pending technology and has the potential to be the only solid
dosage form capable of providing absorption of dronabinol in the
oral cavity.
INT0010 has clinically demonstrated increased bioavailability
and the potential to reduce the dose required for efficacy.
INT0010 was successfully studied in a Phase I safety and
pharmacokinetic clinical trial (results announced on April 14,
2009). Results verified the AdVersa technology by proving buccal
absorption of the drug leading to increased bioavailability with a
reduced level of the psychoactive metabolite.
About IntelGenx:
IntelGenx is a drug delivery company focused on the development
of oral controlled-release products as well as novel rapidly
disintegrating delivery systems. IntelGenx uses its unique multiple
layer delivery system to provide zero-order release of active drugs
in the gastrointestinal tract. IntelGenx has also developed novel
delivery technologies for the rapid delivery of pharmaceutically
active substances in the oral cavity based on its experience with
rapidly disintegrating films. IntelGenx' research and development
pipeline includes products for the treatment of pain, hypertension,
erectile dysfunction and depressive disorders. More information is
available about the company at 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 for the fiscal year ended
December 31, 2009, filed with the United States Securities and
Exchange Commission and available at www.sec.gov, and also filed
with Canadian securities regulatory authorities and www.sedar.com.
IntelGenx assumes no obligation to update any such forward-looking
statements.
Each of the TSX Venture Exchange and OTC Bulletin Board has
neither approved nor disapproved the contents of this press
release.
Contacts: IntelGenx Corp. Dr. Horst G. Zerbe President and CEO
+1 514-331-7440 (ext. 201) +1 514-331-0436 (FAX)
horst@intelgenx.com www.intelgenx.com
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