SAINT LAURENT, QUEBEC, Oct. 1, 2009 - IntelGenx Technologies Corp. ("IntelGenx") (TSX-V: IGX) (OTC.BB:IGXT) announced today the engagement of Little Gem Life Science Partners (“Little Gem”) and SectorSpeak Inc. (“SectorSpeak”) to spearhead the development of IntelGenx’ relationships with the investment communities of North America.
Although both firms will work closely together, Little Gem, based in New York, has been retained with primary responsibility for Investor Relations activities in the USA whilst SectorSpeak, a Canadian Corporation, will concentrate on the Canadian market.
Both firms have been engaged for a term of 12 months commencing on October 1st, 2009. Under the terms of the Agreements IntelGenx will pay Little Gem and SectorSpeak monthly fees of US$4,500 and CAD$5,000 respectively. SectorSpeak received an additional retainer fee of CAD$5,000 that was payable upon commencement of the Agreement. Subject to approval from the Board of Directors, Little Gem will receive 50,000 options to purchase common shares of IntelGenx. The options will vest 50% on the first, and 50% on the second, anniversary of the Agreement.
At the time of this announcement, Jeffrey Benison, Managing Director of Little Gem, owned 158,661 common shares of IntelGenx. Neither SectorSpeak, nor any of its principal officers, own shares in IntelGenx.
About IntelGenx Technologies Corp.
IntelGenx Technologies Corp. is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The company 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's research and development pipeline includes products for the treatment of pain, hypertension, osteoarthritis and depressive disorders. More information is available about the company at www.intelgenx.com.
The TSX Venture Exchange and OTC Bulletin Board have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
IntelGenx Technologies Corp.
Dr. Horst G. Zerbe
President and CEO
514-331-7440 (ext. 201)