ATAI and IntelGenx enter into Feasibility Agreement to develop pharmaceutical-grade polymeric film technologies for delivery of psychedelic medicines
NEW YORK, Aug. 20, 2020 /PRNewswire/ -- Today, ATAI Life Sciences ("ATAI" or the "Company"), a global biotech developing psychedelic and non-psychedelic compounds for a variety of mental health indications, announced a Feasibility Agreement with IntelGenx Corp. (TSX V:IGX)(OTCQB:IGXT) ("IntelGenx") for the development of novel formulations of pharmaceutical-grade psychedelics based on IntelGenx's polymeric film technologies.
IntelGenx will conduct pre-development and formulation development work to design a prototype polymeric film formulation that will be investigated by ATAI in subsequent clinical trials. Additionally, the agreement describes the terms under which the Company and IntelGenx would enter into an exclusive license to commercialize the product globally.
"Given the breadth of the mental health crisis, it's critical that we identify the most efficient methods of delivering psychedelic medicines," said ATAI CEO Florian Brand. "We look forward to working with IntelGenx to ensure that ATAI's family of compounds are accessible to all that need them."
"We will leverage our VersaFilm® technology platform to design convenient and fast-acting formulations of ATAI's compounds," said Dr. Horst G. Zerbe, CEO of IntelGenx. "We are excited to work with ATAI to serve the millions of people living with mental illnesses, both by discovering novel delivery methods and potentially manufacturing ATAI's clinical supply."
ATAI Life Sciences
Phone: +1 (917) 974-1371
KCSA Strategic Communications
Phone: +1 (212) 896-1267
About ATAI Life Sciences
ATAI Life Sciences is a global biotech platform and company builder founded by Christian Angermayer. Based in Berlin, New York and San Diego, its vision is to cure mental health disorders, enabling people to live healthier and happier lives. www.atai.life
IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.
IntelGenx's superior film technologies, including VersaFilm®, VetaFilm™ and transdermal, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx's innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.
IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. www.intelgenx.com.
Forward Looking Statements:
This document may contain forward-looking information about IntelGenx' operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about IntelGenx' plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "could," "would," and similar expressions. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx' actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in IntelGenx' annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities at www.sedar.com. ATAI and IntelGenx assume no obligation to update any such forward-looking statements.
Each of the TSX Venture Exchange and OTCQB has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE ATAI Life Sciences