SAINT LAURENT, Quebec, Aug. 20, 2020 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX V:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today announced that it has entered into a feasibility agreement (the “Agreement”) with ATAI Life Sciences AG (“ATAI”), a global biotech developing psychedelic and non-psychedelic compounds for a variety of mental health indications, for the development of novel formulations of pharmaceutical-grade psychedelics (the “Product”) based on IntelGenx's polymeric film technologies.
Under the terms of the Agreement, IntelGenx will conduct pre-development and formulation development work to provide a Product prototype to ATAI for further clinical investigation. The agreement also contemplates a term sheet upon which the parties will enter into an exclusive, royalty-bearing license to commercialize the Product worldwide.
“This agreement further demonstrates the utility of our VersaFilm® technology platform, particularly when a convenient dosage form and fast-acting formulation are required,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “We are looking forward to working with ATAI to develop a psychedelic-containing films for the treatment of mental health disorders, and potentially to manufacturing their clinical supply, assuming successful prototype development.”
“ATAI is dedicated to developing new treatments for individuals suffering from mental health disorders, which is crucial given the increasing prevalence of depression, anxiety and addiction,” said Florian Brand, CEO of ATAI. “IntelGenx’s film technology is very well-suited for our pharmaceutical-grade psychedelic candidates, offering ATAI the potential to deliver treatments to everyone in need of new therapeutic options.”
About ATAI Life Sciences
ATAI Life Sciences is a global biotech platform and company builder founded by Christian Angermayer. Based in Berlin, New York and San Diego, its vision is to cure mental health disorders, enabling people to live healthier and happier lives. For more information, visit www.atai.life.
IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.
IntelGenx’s superior film technologies, including VersaFilm®, VetaFilm™ and transdermal, 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