IntelGenx Enters into Feasibility Agreement with ATAI Life Sciences to Develop Pharmaceutical-Grade Polymeric Film-Based Psychedelics

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.

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, 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.