IntelGenx Enters into Feasibility & Development Agreement For CBD-Infused VetaFilm™

Rhea-AI Summary

IntelGenx Corp. (TSX:IGX) (OTCQB:IGXT) has announced a Feasibility Study & Development Agreement with an unidentified animal health company. This collaboration focuses on creating a VetaFilm™-based oral film formulation containing CBD for companion animals. IntelGenx is set to supply a CBD-infused prototype for clinical evaluation, potentially leading to a commercial agreement. The global CBD pet market is projected to grow at a CAGR of 58.9%, reaching $4.79 billion by 2028, indicating significant market opportunity for IntelGenx.

Positive

• Entered into a Feasibility Study & Development Agreement to develop CBD-infused VetaFilm™ for pets.
• Potential for a commercial agreement following successful feasibility studies.
• Access to a rapidly growing CBD pet market, projected to reach $4.79 billion by 2028.

Negative

• None.

SAINT LAURENT, Quebec, Nov. 09, 2022 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX:IGX) (OTCQB:IGXT) (the "Company" or "IntelGenx”), a leader in pharmaceutical films, today announced that it has entered into a Feasibility Study & Development Agreement (the “Agreement”) with an undisclosed animal health company focused on advancing a VetaFilm™-based oral film formulation containing CBD for use in companion animals.

Pursuant to the Agreement, IntelGenx will provide a CBD-infused VetaFilm™ product prototype for clinical investigation. Based on successful feasibility, IntelGenx will enter into negotiations for a commercial agreement, pursuant to which IntelGenx will have exclusive rights to further develop, manufacture and supply the developed product.

“This agreement marks yet another important first for us within the animal health space,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “We are looking forward to working to make CBD-infused VetaFilm™ products available within the global CBD pet market, which is expected to grow at a compound annual growth rate of 58.9% to reach $4.79 billion by 2028.”

About IntelGenx

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

IntelGenx’s superior film technologies, including VersaFilm^®, DisinteQ^™, VetaFilm^™ and transdermal VevaDerm^™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.

IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.

Forward-Looking Information and Statements

This document may contain forward-looking information about IntelGenx's operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about IntelGenx's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "could," "would," and similar expressions. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx's actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in IntelGenx's annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities at www.sedar.com. IntelGenx assumes no obligation to update any such forward-looking statements.

Source: IntelGenx Technologies Corp.

For IntelGenx:

Stephen Kilmer
Investor Relations
(647) 872-4849
stephen@kilmerlucas.com

Or

Andre Godin, CPA, CA
President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
andre@intelgenx.com

FAQ

What is IntelGenx's recent announcement regarding CBD products for pets?

IntelGenx announced a Feasibility Study & Development Agreement for a CBD-infused VetaFilm™ product for companion animals.

What is the expected market growth for CBD pet products?

The global CBD pet market is expected to grow at a CAGR of 58.9%, reaching $4.79 billion by 2028.

What are the potential outcomes of IntelGenx's agreement with the animal health company?

If feasibility studies are successful, IntelGenx may negotiate a commercial agreement for exclusive development and supply rights.

What technology is IntelGenx using for its CBD formulation?

IntelGenx is utilizing its VetaFilm™ technology to develop the CBD-infused oral film.

What is the purpose of the VetaFilm™ product being developed?

The VetaFilm™ product aims to provide a CBD formulation for use in companion animals.