IntelGenx, a Canada-based drug delivery company and Circ Pharma, a specialty pharmaceutical company based in Ireland, have formed a partnership, pursuant to which IntelGenx will formulate, manufacture and supply to Circ, and Circ will develop and commercialize, a novel drug product for the treatment of hyperlipidemia.

Under the terms of the agreement, Circ Pharma will fund the development of the product and IntelGenx will receive royalties from the product's sales. IntelGenx will use its proprietary Versatab technology to formulate the product.

This is said to be the first product in a series of Circ Pharma's controlled release lipid lowering agents specifically designed to target the absorption of drug in order to reduce the effective dose and potentially lower the side effects. The product is expected to reach the market in 2012.

"We are very pleased about this collaboration with Circ Pharma. It is another testament to our drug development capabilities. We are looking forward to a productive and successful relationship with Circ Pharma," said Horst Zerbe, president and CEO of IntelGenx.

IntelGenx Corp. is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The company uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastro-intestinal tract.

Circ Pharma is a specialty pharmaceutical company focused on the development and licensing of novel pharmaceutical products. Circ Pharma's mission is to develop novel formulations of existing medicines that provide significant incremental patient benefit.