IntelGenx Announces License Agreement With Edgemont Pharmaceuticals

IntelGenx Corp. recently announced it has entered into an exclusive agreement with Edgemont Pharmaceuticals, LLC for the commercialization of IntelGenx’s lead product CPI-300 in US. Under the terms of the agreement, Edgemont has obtained certain exclusive rights to market and sell CPI-300 in the US. In exchange, IntelGenx will receive a $1 million up-front payment and launch related milestones totalling up to $4 million and will be eligible for additional milestones upon achieving certain sales and exclusivity targets of up to a further $23.5 million. IntelGenx will also receive tiered double-digit royalties on the net sales of CPI-300.

“We are very pleased that Edgemont, a company focused on neurosciences, will be marketing our lead product. A new private company with experienced marketing executives in the psychiatry and neurology space, we strongly believe Edgemont will be able to devote their time and expertise to ensure this product will have a successful launch. We are confident Edgemont is the ideal company to realize the full potential of CPI-300 and establish it as a successful new brand in the US,” said Dr. Horst G. Zerbe, President and CEO of IntelGenx. “This partnership will generate increased cash for IntelGenx to invest in its pipeline, thereby accelerating the pace of project development and enhancing shareholder value.”

“We are extremely pleased to have been selected as the company to launch CPI-300 in the US, and we are fully committed to its success,” added Doug Saltel, President and CEO of Edgemont Pharmaceuticals, LLC. “CPI-300 represents an outstanding strategic fit for us given our focus and expertise in the field of psychiatry, but more importantly, we are excited to be able to launch a product with such a clear and important clinical benefit.”

CPI-300 is a novel, high-mg strength formulation of bupropion HCl, the active ingredient in Wellbutrin XL. When launched, CPI-300 will provide high-dose bupropion XL patients the opportunity to achieve their mg dose in a single pill versus the multiple pills they currently need to take. Reducing the number of pills per dose is a well-published and important clinical benefit.

IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastrointestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. IntelGenx’s research and development pipeline includes products for the treatment of severe depression, hypertension, erectile dysfunction, benign prostatic hyperplasia, migraine, insomnia, bipolar disorder, idiopathic pulmonary fibrosis, allergies, and pain management.

Edgemont Pharmaceuticals, LLC is a privately held pharmaceutical company with a primary focus and expertise in the field of neuroscience. Edgemont is committed to the development of novel drug formulations and new therapies that can improve patient care.