IntelGenx Corp. and Par Pharmaceutical, Inc. have entered into a co-development and commercialization agreement for a new product utilizing one of IntelGenx' proprietary oral drug delivery platforms. Product description and financial terms were not disclosed.
Under the terms of the agreement, Par has obtained certain exclusive rights to market and sell IntelGenx' product in the USA. In exchange IntelGenx will receive upfront and milestone payments, together with a share of the profits of commercialization. Par also has a right of first refusal to obtain the exclusive commercialisation rights for an additional new product utilizing one of IntelGenx' proprietary drug delivery platforms.
“We are pleased to have expanded our pipeline through a partnership with such a significant drug developer and distributor as Par,” commented Dr Horst Zerbe, president and CEO of IntelGenx. “We see the completion of this deal as further validation of our oral delivery platforms and our ability to attract high quality alliances and partnerships.”
IntelGenx is focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems.
Par Pharmaceutical, Inc. develops, manufactures and markets higher-barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals.