IntelGenx Announces New Animal Health Partnership; Enters into Development and License Agreements for VetaFilm®
December 18 2023 - 7:15AM
IntelGenx Corp. (TSX:IGX) (OTCQB:IGXT) (the "Company" or
"IntelGenx") today announced that it has entered into development
and license agreements (collectively the “Agreements”) with a
wholly-owned subsidiary of Covenant Animal Health Partners, LLC
(“Covenant Animal Health”).
Under the terms of the development agreement,
Covenant Animal Health will fund development and manufacturing of a
VetaFilm®-based drug (the “Product”). The license agreement will
give Covenant Animal Health exclusive rights to exploit the Product
in the field for non-human applications. In return, IntelGenx will
receive royalties on worldwide net sales of the Product.
IntelGenx will manufacture the Product on
worldwide basis for clinical development, and the parties
anticipate entering into a subsequent commercial supply agreement,
pursuant to which IntelGenx will supply the Product to Covenant
Animal Health.
“We are delighted to expand our Animal Health
business with our third collaboration in as many years since we
entered the Animal Health market and are pleased to deliver on our
corporate strategy,” commented Mr. Gorham. “This partnership with
an industry leader like Covenant Animal Health should help open the
doors to several additional commercial opportunities for our
proprietary VetaFilm® drug delivery platform, and it reaffirms our
belief that the technology could become a standard administration
method for companion animals in the future.”
“Covenant Animal Health Partners, LLC was formed
to provide products to the animal health industry which allow
veterinarians to practice better medicine,” explained Dr. Thomas D.
Overbay, CEO Covenant. “We are excited to work with IntelGenx and
believe providing products using improved delivery systems, such as
that provided by IntelGenx, will help us achieve that goal.”
Wyrick Robbins Yates & Ponton LLP acted as legal counsel to
Covenant for the transaction.
About IntelGenx
IntelGenx is a leading drug delivery company
focused on the development and manufacturing of pharmaceutical
films.
IntelGenx’s superior film technologies,
including VersaFilm®, DisinteQ™, VetaFilm® and transdermal
VevaDerm™, 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.
About Covenant Animal Health
Partners
Initially formed in 2018, Covenant Animal Health
Partners is dedicated to the development and registration of
“revenue-ready” animal health products. Covenant addresses critical
market needs across production animals and companion animals and
advances new assets into industry partner portfolios. The company’s
experienced team of animal health and technology development and
advancement professionals brings decades of expertise in the rapid
evaluation, development and partnering needed to deliver critical
solutions to animal health manufacturers and distributors. In
addition to proprietary programs, Covenant works with animal health
industry leaders to fund, develop and accelerate external
innovation initiatives. See www.CovenantAH.net.
Forward-Looking Information and
Statements
This document may contain forward-looking
information about IntelGenx's 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's 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's 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's 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.
Source: IntelGenx Technologies Corp.
For IntelGenx:
Stephen KilmerInvestor Relations(647)
872-4849stephen@kilmerlucas.com
Or
Andre Godin, CPA, CAPresident and CFOIntelGenx Corp.(514)
331-7440 ext 203andre@intelgenx.com
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