IntelGenx Corp. (TSX V:IGX)(OTCQB:IGXT) (the “Company” or “IntelGenx”) today announced that it has granted Exeltis Healthcare, S.L. (“Exeltis”) an exclusive license to manufacture and commercialize RIZAPORT®, a unique oral thin film for the treatment of acute migraines, in the European Union (“EU”).
In July 2016, IntelGenx and Grupo Juste S.A.Q.F. (now Exeltis) entered into an exclusive license agreement for the commercialization of RIZAPORT® in Spain. Under the terms of the current agreement, IntelGenx will grant Exeltis an exclusive license to manufacture and commercialize RIZAPORT® in the EU. Exeltis will pay IntelGenx prespecified royalties on net RIZAPORT® sales in the EU. In addition, IntelGenx has a right of first refusal to manufacture the Product for the EU market.
“The addition of 26 European countries to our existing commercialization partnership with Exeltis is a testament to the potential of RIZAPORT® as a new therapeutic option for the treatment of acute migraines,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “The European migraine drug market was valued at more than US $1 billion in 2019 and is expected to approach US $1.5 billion by 2024,1 so there is a clear need for more convenient treatments than those that are currently available. We are looking forward to continuing to work with Exeltis to expand our geographic footprint and bring this therapy to patients in new markets.”
“We are excited to expand our RIZAPORT® commercialization partnership with IntelGenx to bring this innovative, easy-to-administer treatment to patients across Europe,” said Alberto Fabregas, Managing Director of Exeltis Healthcare. “We believe RIZAPORT® is a particularly attractive option for migraine patients, especially the 80% that suffer from migraine-related nausea. We are looking forward to continued collaboration with IntelGenx, and to launching RIZAPORT® in at least one major market early next year.”
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Source: Biospace