IntelGenx Announces New Animal Health Partnership; Enters into Development and License Agreements for VetaFilm

SAINT LAURENT, Quebec, Dec. 18, 2023 (GLOBE NEWSWIRE) -- 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.