IntelGenx (OTCQX:IGXT; TSXV:IGX) and Tetra Bio-Pharma (CSE:TBP; OTC:GRPOF) signed a definitive agreement to develop and commercialize a drug product containing the cannabinoid, Dronabinol, for the management of anorexia and cancer chemotherapy-related pain.
Under the accord, Tetra has exclusive rights to sell the product in North America, with a right of first negotiation for territories outside of the U.S. and Canada.
Tetra will make an upfront payment to IntelGenx, in addition to set future milestone and royalty payments, based on the completion of an efficacy study, approvals from the FDA and Health Canada, and the commercial launch of the product.
IntelGenx will be responsible for the research and development, including clinical studies, and will develop the product as an oral mucoadhesive tablet based on its proprietary AdVersa controlled-release technology.
Tetra also will be responsible for funding product development, and will own and control all regulatory approvals, including related applications, and any other marketing authorizations. Tetra will also be responsible for all aspects of commercializing the product.
"We are pleased to be working with Tetra to bring this much-needed cannabinoid product to North American patients suffering from anorexia and cancer chemotherapy-related pain," Dr. Horst Zerbe, president and CEO of IntelGenx, said in a statement.
Andre Rancourt, CEO of Tetra, said the company looks forward to aggressively concluding future agreements as “we build a leading bio-pharmaceutical organization focused on developing medicinal cannabis as pharmaceutical drugs."