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 said to be 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.
Horst Zerbe, president and CEO of IntelGenx, said: “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.”