IntelGenx Announces License Agreement for the Commercialization of CPI-300 in the United States
today announced that it has entered into an exclusive agreement with Edgemont Pharmaceuticals, LLC ("Edgemont") for the commercialization of IntelGenx' lead product CPI-300 in the United States (U.S.).
Under the terms of the agreement, Edgemont has obtained certain exclusive rights to market and sell CPI-300 in the U.S. In exchange, IntelGenx will receive a $1.0 million upfront payment and launch related milestones totalling up to $4.0 million and will be eligible for additional milestones upon achieving certain sales and exclusivity targets of up to a further $23.5 million. IntelGenx will also receive tiered double-digit royalties on the net sales of CPI-300.
"We are very pleased that Edgemont, a company focused on neurosciences, will be marketing our lead product. A new private company with experienced marketing executives in the psychiatry and neurology space, we strongly believe that Edgemont will be able to devote their time and expertise to ensure that this product will have a successful launch. We are confident that Edgemont it is the ideal company to realize the full potential of CPI-300 and establish it as a successful new brand in the U.S.," stated Dr. Horst G. Zerbe, President and CEO of IntelGenx. "This partnership will generate increased cash for IntelGenx to invest in its pipeline, thereby accelerating the pace of project development and enhancing shareholder value."
"We are extremely pleased to have been selected as the company to launch CPI-300 in the U.S., and we are fully committed to its success," stated Doug Saltel, President and CEO of Edgemont Pharmaceuticals, LLC. "CPI-300 represents an outstanding strategic fit for us given our focus and expertise in the field of psychiatry, but more importantly, we are excited to be able to launch a product with such a clear and important clinical benefit."
About CPI-300:
CPI-300 is a novel, high mg strength formulation of bupropion HCl, the active ingredient in Wellbutrin XL(R). When launched, CPI-300 will provide high dose bupropion XL patients the opportunity to achieve their mg dose in a single pill versus the multiple pills they currently need to take. Reducing the number of pills per dose is a well-published and important clinical benefit.
About IntelGenx:
IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastrointestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. IntelGenx' research and development pipeline includes products for the treatment of severe depression, hypertension, erectile dysfunction, benign prostatic hyperplasia, migraine, insomnia, bipolar disorder, idiopathic pulmonary fibrosis, allergies and pain management. More information is available about the company at
IntelGenX.
About Edgemont Pharmaceuticals:
Edgemont Pharmaceuticals, LLC is a privately held pharmaceutical company with a primary focus and expertise in the field of neuroscience. Edgemont is committed to the development of novel drug formulations and new therapies that can improve patient care. More information is available about the company at
Edgemont Pharmaceuticals.