IntelGenx (OTCQX:IGXT) said today that it inked a development and commercialization deal with pharmaceutical company Endo Ventures. According to the agreement, the 2 companies will develop a new product using IntelGenx’s VersaFilm drug delivery technology to bring to the market in the U.S.
Endo will have certain exclusive rights to market and sell the product in the U.S. and pay IntelGenx in upfront payments and future milestone payments of undisclosed amounts. Both companies will share the profits made from commercializing the product.
Montreal-based IntelGenx reformulates approved drugs into oral thin films that are easier to take compared to capsules. The company reported that 40% of American adults have trouble swallowing pills. The VersaFilm is a thin, rapidly disintegrating film that bypasses first-pass metabolism and is easily administered to pediatric patients and patients who have a fear of choking or swallowing capsules.
“We are thrilled to further strengthen our partnership with such a significant global pharmaceutical organization as Endo,” president & CEO Dr. Horst Zerbe said in prepared remarks. “We see the completion of this deal as further validation of our VersaFilm technology and our ability to enter into high quality partnerships. IntelGenx continues to make tremendous progress in executing our strategy of becoming a global leader in pharmaceutical oral films.”