SAINT LAURENT, Quebec, Might 12, 2021 (GLOBE NEWSWIRE) — IntelGenx Corp. (TSX-V:IGX) (OTCQB:IGXT) (“IntelGenx”), a pacesetter in pharmaceutical movies, right this moment introduced that it has entered right into a second feasibility settlement (the “SFA”) with ATAI Life Sciences AG (“atai”), a clinical-stage biopharmaceutical firm creating psychedelic and non-psychedelic compounds for numerous psychological well being indications, for the event of novel formulations of Salvinorin A, a naturally occurring psychedelic compound being developed for the remedy of treatment-resistant despair and different indications.
The primary feasibility settlement between the businesses was signed in August 2020. That was adopted in March 2021 by IntelGenx and atai asserting a strategic partnership, together with a proposed fairness funding in IntelGenx by atai, positioning IntelGenx as a pacesetter inside the novel therapeutics discipline of psychedelics and offering extra monetary sources to proceed to advance its strong portfolio of modern transmucosal movie product candidates in the direction of commercialization.
Underneath the phrases of the SFA, IntelGenx will conduct formulation growth work to offer a prototype to atai for additional medical investigation.
“It was through the early SFA negotiations that we first mentioned atai’s potential strategic funding,” commented Dr. Horst G. Zerbe, CEO of IntelGenx. “We proceed to imagine that our transformative partnership with atai, which was permitted by our shareholders yesterday, is the easiest way ahead to maximise shareholder worth,” commented Dr. Horst G. Zerbe, CEO of IntelGenx.
“Immediately, we take one other step towards realizing our purpose of progressing from collaborators to companions. We look ahead to making IntelGenx’s movie expertise an integral a part of our platform,” stated Florian Model, CEO of atai. “Our dedication to creating extra efficacious remedies for sufferers is supported by IntelGenx, and we imagine its expertise and experience will probably be extremely worthwhile in delivering on this dedication.”
atai is a clinical-stage biopharmaceutical firm based in 2018 in response to the numerous unmet want and lack of innovation within the psychological well being remedy panorama. atai is devoted to buying, incubating and effectively creating modern therapeutics to deal with despair, anxiousness, habit, and different psychological well being problems. atai’s enterprise mannequin combines funding, expertise, scientific and regulatory experience with a concentrate on psychedelic compounds and different medication with differentiated security profiles and therapeutic potential. atai operates a decentralized mannequin to allow scalable drug or technological growth throughout its firms, looking for to successfully deal with and in the end heal psychological well being problems. atai’s imaginative and prescient is to bridge the hole between what the psychological healthcare system at present supplies and what sufferers want. atai is headquartered in Berlin, with places of work in New York, and London. For extra data, please go to www.atai.life.
IntelGenx is a number one drug supply firm centered on the event and manufacturing of pharmaceutical movies.
IntelGenx’s superior movie applied sciences, together with VersaFilm®, VetaFilm™ and transdermal, enable for subsequent technology pharmaceutical merchandise that deal with unmet medical wants. IntelGenx’s modern product pipeline provides vital advantages to sufferers and physicians for a lot of therapeutic circumstances.
IntelGenx’s extremely expert staff supplies complete prescribed drugs companies to pharmaceutical companions, together with R&D, analytical methodology growth, medical monitoring, IP and regulatory companies. IntelGenx’s state-of-the-art manufacturing facility provides full service by offering lab-scale to pilot- and commercial-scale manufacturing. For extra data, go to www.intelgenx.com.
Ahead Trying Statements:
This doc could include forward-looking details about IntelGenx’ working outcomes and enterprise prospects that contain substantial dangers and uncertainties. Statements that aren’t purely historic are forward-looking statements inside the that means of Part 21E of the Securities Change Act of 1934, as amended, and Part 27A of the Securities Act of 1933, as amended. These statements embody, however should not restricted to, statements about IntelGenx’ plans, targets, expectations, methods, intentions or different characterizations of future occasions or circumstances and are usually recognized by the phrases “could,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “might,” “would,” and related expressions. All ahead trying statements are expressly certified of their entirety by this cautionary assertion. As a result of these forward-looking statements are topic to numerous dangers and uncertainties, IntelGenx’ precise outcomes might differ materially from these expressed or implied by these forward-looking statements. Components that would trigger or contribute to such variations embody, however should not restricted to, these mentioned below the heading “Danger Components” in IntelGenx’ annual report on Type 10-Ok, filed with the USA Securities and Change Fee and out there at www.sec.gov, and in addition filed with Canadian securities regulatory authorities at www.sedar.com. IntelGenx assumes no obligation to replace any such forward-looking statements.
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Supply: IntelGenx Applied sciences Corp.
(514) 331-7440 ext 232
Andre Godin, CPA, CA
President and CFO
(514) 331-7440 ext 203
For atai Life Sciences
atai – Chief Monetary Officer
Electronic mail: firstname.lastname@example.org
KCSA Strategic Communications
Cellphone: +1 (212) 896-1265
Electronic mail: atai@KCSA.com