IntelGenx Provides Update on Previously Announced Sale and Investment Solicitation Process
IntelGenx Technologies Corp. (OTC: IGXT), a leading drug delivery company specializing in pharmaceutical films, has provided an update on its previously announced sale and investment solicitation process (SISP). The Phase 1 Non-Binding LOI Submission Deadline, set for July 15, 2024, has passed without resulting in alternative superior bids. As a result, IntelGenx and atai Life Sciences AG have begun the process to complete their purchase and sale transaction.
The companies anticipate obtaining final approval from the Québec Superior Court (Commercial Division) and closing the transaction before September 30, 2024. This development marks a significant step in IntelGenx's strategic direction and potential future operations.
IntelGenx Technologies Corp. (OTC: IGXT), un leader nel settore della somministrazione di farmaci specializzato in film farmaceutici, ha fornito un aggiornamento sul suo processo di vendita e solicitazione di investimenti (SISP) già annunciato. La scadenza per la presentazione della Lettera di Intenti Non Vincolante di Fase 1, fissata per il 15 luglio 2024, è scaduta senza che siano pervenute offerte alternative superiori. Di conseguenza, IntelGenx e atai Life Sciences AG hanno avviato il processo per completare la loro transazione di acquisto e vendita.
Le aziende prevedono di ottenere l'approvazione finale dal Tribunale Superiore del Québec (Divisione Commerciale) e concludere la transazione entro il 30 settembre 2024. Questo sviluppo segna un passo significativo nella direzione strategica di IntelGenx e nelle potenziali operazioni future.
IntelGenx Technologies Corp. (OTC: IGXT), una compañía líder en la entrega de medicamentos especializada en películas farmacéuticas, ha proporcionado una actualización sobre su proceso anterior de venta y solicitud de inversión (SISP). La fecha límite para la presentación de la Carta de Intención No Vinculante de la Fase 1, establecida para el 15 de julio de 2024, ha pasado sin resultar en ofertas alternativas superiores. Como resultado, IntelGenx y atai Life Sciences AG han comenzado el proceso para completar su transacción de compra y venta.
Las empresas anticipan obtener la aprobación final del Tribunal Superior de Quebec (División Comercial) y cerrar la transacción antes del 30 de septiembre de 2024. Este desarrollo marca un paso significativo en la dirección estratégica de IntelGenx y sus potenciales operaciones futuras.
IntelGenx Technologies Corp. (OTC: IGXT), 약물 전달 분야의 선도 기업으로 제약 필름을 전문으로 하는 회사가 이전에 발표한 판매 및 투자 유치 과정(SISP)에 대한 업데이트를 제공했습니다. 2024년 7월 15일로 설정된 1단계 비구속 의향서 제출 마감일이 지나갔으나 대체 우선 입찰은 발생하지 않았습니다. 결과적으로 IntelGenx와 atai Life Sciences AG는 구매 및 판매 거래를 완료하는 과정을 시작했습니다.
두 회사는 퀘벡 고등법원(상업부)으로부터 최종 승인을 받고 2024년 9월 30일 이전에 거래를 마무리할 것으로 예상하고 있습니다. 이 사건은 IntelGenx의 전략적 방향과 잠재적인 미래 운영에 있어 중요한 발전을 의미합니다.
IntelGenx Technologies Corp. (OTC: IGXT), une entreprise leader dans la livraison de médicaments spécialisée dans les films pharmaceutiques, a fourni une mise à jour sur son processus de vente et de sollicitation d'investissement (SISP) précédemment annoncé. La date limite de soumission de la lettre d'intention non contraignante de la phase 1, fixée au 15 juillet 2024, est passée sans résultats d'offres alternatives supérieures. Par conséquent, IntelGenx et atai Life Sciences AG ont commencé le processus pour finaliser leur transaction d'achat et de vente.
Les entreprises s'attendent à obtenir l'approbation finale du Tribunal supérieur du Québec (division commerciale) et à clore la transaction avant le 30 septembre 2024. Ce développement marque une étape significative dans la direction stratégique d'IntelGenx et ses opérations futures potentielles.
IntelGenx Technologies Corp. (OTC: IGXT), ein führendes Unternehmen in der Arzneimittelabgabe, das sich auf pharmazeutische Filme spezialisiert hat, hat ein Update zu seinem zuvor angekündigten Verkaufs- und Investitionsanfrageprozess (SISP) bereitgestellt. Die Frist für die Einreichung der nicht verbindlichen Absichtserklärung der Phase 1, die für den 15. Juli 2024 festgelegt wurde, ist abgelaufen, ohne dass sich alternative überlegene Angebote ergeben haben. Infolgedessen haben IntelGenx und atai Life Sciences AG den Prozess begonnen, um ihren Kauf- und Verkaufsvertrag abzuschließen.
Die Unternehmen erwarten, die endgültige Genehmigung des Obergerichts von Québec (Handelsabteilung) zu erhalten und die Transaktion vor dem 30. September 2024 abzuschließen. Diese Entwicklung stellt einen wichtigen Schritt in der strategischen Richtung von IntelGenx und den potenziellen zukünftigen Geschäftstätigkeiten dar.
- IntelGenx is moving forward with a definitive purchase and sale transaction with atai Life Sciences AG
- The transaction is expected to close before September 30, 2024, providing a clear timeline for investors
- No alternative superior bids were received during the SISP, potentially limiting options for maximizing shareholder value
- The sale process may result in changes to IntelGenx's ownership structure and strategic direction
MONTREAL, July 19, 2024 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (the “Company” or “IntelGenx”) (OTC: IGXT), a leading drug delivery company focused on the development and manufacturing of pharmaceutical films, announced today that the Phase 1 Non-Binding LOI Submission Deadline set for 5:00 p.m. (EDT) on July 15, 2024 in connection with the previously announced sale and investment solicitation process (“SISP”) has lapsed. As Phase 1 of the SISP did not result in alternative superior bids, IntelGenx and atai Life Sciences AG (“atai”) have now initiated the process to complete the purchase and sale transaction. The parties currently expect to obtain final approval from the Québec Superior Court (Commercial Division) and close the transaction prior to September 30, 2024.
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 pharmaceutical 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 https://www.intelgenx.com/ and connect with us on X and LinkedIn.
IntelGenx Forward-Looking Statements
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements use such word as “will”, “may”, “potential”, “believe”, “expect”, “continue”, “anticipate” and other similar terminology. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to closing of the transaction with atai and the approval from the Québec Superior Court (Commercial Division) in connection thereto. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company. IntelGenx assumes no responsibility to update forward-looking statements in this press release except as required by law. These forward-looking statements involve known and unknown risks and uncertainties. Investors are cautioned not to rely on these forward-looking statements and are encouraged to read IntelGenx’s continuous disclosure documents, including its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR+ at http://www.sedarplus.ca and on EDGAR at http://www.sec.gov/edgar
Contact:
Andre Godin, President & CFO, andre@intelgenx.com
Source: IntelGenx Technologies Corp.
FAQ
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