IntelGenx in development pact with Endo
IntelGenx (OTCQX:IGXT; TSX-V:IGX) entered into a co-development and commercialization agreement with Endo Ventures for a new product utilizing IntelGenx' proprietary VersaFilm for the USA market.
Under the accord, Endo has obtained certain exclusive rights to market and sell IntelGenx' product in the U.S. IntelGenx will receive an upfront payment and future milestone payments. Endo and IntelGenx will share the profits of commercialization.
"We see the completion of this deal as further validation of our VersaFilm technology and our ability to enter into high quality partnerships, Dr. Horst Zerbe, president and CEO of IntelGenx, said in a statement.
“IntelGenx continues to make tremendous progress in executing our strategy of becoming a global leader in pharmaceutical oral films," he added.