IntelGenx Corporation (TSX VENTURE:IGX)(OTCBB:IGXT) ("IntelGenx") and Circ Pharma ("Circ") today announced a partnership in which IntelGenx will formulate, manufacture and supply to Circ, and Circ will develop and commercialise, 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 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. The lipid lowering market had over $30 billion in worldwide sales during 2008.
"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 Dr. Horst Zerbe, President and CEO of IntelGenx Corp.