IntelGenx announces definitive agreement with Chemo Group for a generic CNS tablet.
IntelGenx Corp. announced the signing of a definitive agreement with Chemo Group for the co-development and commercialization of a generic tablet in the area of the central nervous system (CNS) on a worldwide basis.
According to Global Data, worldwide sales in 2015 of the CNS related product exceeded $4 billion. The definitive agreement signed December 30, 2016 follows the binding term sheet announced on December 1, 2016.
Under the agreement, IntelGenx is entitled to an upfront payment, development costs of the product and future milestone payments. Chemo and IntelGenx will also share the profits of commercialization.
“We are very pleased by the relentless execution of strategy in 2016 to successfully conclude seven transactions of our innovative products towards future commercialization,” said Dr. Horst Zerbe, president and CEO of IntelGenx. “Four of those innovative products have been concluded with our strategic partner, Chemo, which clearly validates IntelGenx’ advanced oral delivery platforms. We look forward to growing our relationship with Chemo in 2017 in further expanding the global reach of our innovative pipeline.”
Chemo operates across the entire pharmaceutical value chain, delivering specialized service and experience in scientific research, development, manufacturing, sales and marketing of a wide range of value-adding active pharmaceutical ingredients (APIs), finished dosage forms (FDFs) and branded pharmaceuticals, for human and animal health. While Chemo’s main offices are located in Spain, Switzerland and Argentina, the company is active worldwide through a manufacturing and commercial network across Europe, America, Asia and Africa.
IntelGenx is an oral drug delivery company primarily focused on the development and manufacturing of pharmaceutical oral films based on its proprietary VersaFilm technology platform. Established in 2003, the company is based in Montreal.
(Source: Marketwired)
Filed Under: Drug Discovery
