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IntelGenx, Tetra ink deal to develop, commercialize pain management drug

IntelGenx Technologies Corp. and Tetra Bio-Pharma Inc. signed an agreement to commercialize and develop a drug containing the cannabinoid Dronabinol for the management of anorexia and cancer chemotherapy-related pain.

The agreement follows a binding term sheet between the companies.

Under the deal, Tetra has exclusive rights to sell the drug in North America, with a right of first negotiation for territories outside of U.S. and Canada. Tetra will make an up-front payment to IntelGenx in addition to fixed future milestone and royalty payments.

These milestone and royalty payments will be based on the completion of an efficacy study, approvals from the U.S. FDA and Health Canada, and the commercial launch of the product.

IntelGenx will be responsible for the research and development of the drug, including clinical studies, and will develop the product as an oral mucoadhesive tablet based on its proprietary AdVersa controlled-release technology.

Tetra will be responsible for funding the product development and will own and control all regulatory approvals, including the related applications and any other marketing authorizations. It will also be responsible for all aspects of commercializing the drug.