IntelGenx Strengthens Board with the Appointments of Dr. Srinivas G. Rao and Frank Stegert

Rhea-AI Summary

IntelGenx Technologies Corp. (TSX V:IGX)(OTCQB:IGXT) announced the appointments of Dr. Srinivas G. Rao and Frank Stegert to its Board of Directors, increasing its size from six to eight members. Dr. Rao serves as Chief Scientific Officer at ATAI Life Sciences, and Mr. Stegert is Vice President of Investment Management and Operations at the same company. Dr. Rao will join the Compensation Committee, while Mr. Stegert will serve on the Corporate Governance and Nominations Committee. Both will serve until the 2022 annual shareholders' meeting.

Positive

• Appointment of experienced directors adds expertise to the Board.
• Increase in Board size may enhance governance and decision-making.

Negative

• None.

SAINT LAURENT, Quebec, Aug. 04, 2021 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSX V:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today announced the appointments of Srinivas (Srini) G. Rao, M.D., Ph.D. and Frank Stegert to its Board of Directors. The appointments of the two new directors were made pursuant to the previously disclosed purchaser rights agreement by and between the Company and ATAI Life Sciences AG. With the appointments, the size of the Company’s Board of Directors increased from six to eight.

Srinivas Rao has served as atai’s Chief Scientific Officer since April 2019 and Frank Stegert has served as atai’s Vice President, Investment Management and Operations since January 2021, having also served as a part-time consultant for atai prior to joining full-time. Dr. Rao has been assigned to the Compensation Committee of the Board and Mr. Stegert has been assigned to the Corporate Governance and Nominations Committee of the Board.

Each new director will serve until the 2022 annual meeting of the Corporation’s stockholders and until his successor is duly elected and qualified.

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 Statements:

This document may contain forward-looking information about IntelGenx' 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' 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' 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' 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.

Each of the TSX Venture Exchange and OTCQB has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source: IntelGenx Technologies Corp.

For IntelGenx:

Stephen Kilmer
Investor Relations
(514) 331-7440 ext 232
stephen@intelgenx.com

Or

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

FAQ

Who were appointed to the IntelGenx Board of Directors?

Dr. Srinivas G. Rao and Frank Stegert were appointed to the IntelGenx Board of Directors.

What is the size of the IntelGenx Board after the recent appointments?

The size of the IntelGenx Board increased from six to eight members.

When will the new directors serve until?

The new directors will serve until the 2022 annual meeting of the Corporation's stockholders.

What roles do Dr. Rao and Mr. Stegert hold in the Board?

Dr. Rao will be part of the Compensation Committee, and Mr. Stegert will serve on the Corporate Governance and Nominations Committee.

What company is IntelGenx associated with?

IntelGenx is associated with ATAI Life Sciences, which is involved in the appointments of the new directors.