IntelGenx (CVE:IGX) is slated to regain exclusive global rights to develop and sell its Rizaport oral thin-film acute migraine treatment in January, according to a report from BioTuesdays.
The company’s partner, RedHill Biopharma (NSDQ:RDHL), has decided to end its co-development and commercialization relationship with IntelGenx, the news site reported.
“We were expecting RedHill’s decision because in recent years RedHill has been increasingly focused on its gastrointestinal projects and it has started reallocating its resources accordingly,” IntelGenx president & CEO Horst Zerbe told BioTuesdays.”Because of that revised product strategy, this decision did not come out of the blue. RedHill has considered Rizaport to be a non-core asset for some time.”
IntelGenx’s Rizaport therapy uses the company’s VersaFilm oral film technology and was designed to be a therapeutic option for patients with migraine-related nausea and for migraine patients who may have difficulty swallowing pills.
“Rizaport is a fully developed product with no remaining development work outstanding. Going forward there is only upside for us as we don’t need to share any future payments from licensing fees and royalties,” IntelGenx’s VP of business & corporate development, Dana Matzen, told BioTuesdays.
RedHill plans to quickly transfer the rights and obligations for Rizaport back to IntelGenx, Zerbe said, including the product’s pending NDA submission. Meanwhile, IntelGenx will continue to look for prospective commercial partners for Rizaport in the U.S., Europe and other territories, the chief executive added.
