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news.IntelGenx has acquired exclusive rights to, and ownership of, INT0010, an improved formulation of THC (dronabinol) for the symptomatic management of Multiple Sclerosis (MS) induced neuropathic pain and chemotherapy induced nausea, under an agreement signed with PediPharm.
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As per the terms of the agreement, IntelGenx has obtained worldwide rights to US Patent 7,592,328 and all corresponding foreign patents and patent applications to exclusively develop and further provide intellectual property protection for INT0010.
However, PediPharm expects to receive a signing fee and a milestone payment upon IntelGenx securing a commercialisation partner for the product, along with a royalty from all sales of the product world-wide.
IntelGenx has also executed a binding memorandum of understanding with Cynapsus Therapeutics, its former development partner whereby, for forgiveness of debt and a royalty on future sales of the product, IntelGenx has acquired full control of, and interest in, INT0010 going forward.
IntelGenx president and CEO Horst Zerbe said that they are very excited to have acquired full control and ownership of INT0010 at this critical juncture in the product’s development.
"The product has already completed a successful Phase I study demonstrating increased bioavailability of dronabinol and reduced levels of its psychotropic metabolite versus the existing FDA approved THC product," Zerbe said.
"We believe this is the right time for a commercial partner to step in and advance the project and are currently in discussions with several companies that have expressed an interest in commercialising the product."