Superior Film Technologies Addressing Unmet Medical Needs

SAINT LAURENT, Quebec, March 14, 2024 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSX:IGX) (OTCQB:IGXT) (“IntelGenx”), a leader in pharmaceutical films, today announced that it will release its fourth quarter and full year 2023 financial results before market open on Thursday, March 21, 2024.

An accompanying conference call will be hosted by Dwight Gorham, Chief Executive Officer and Andre Godin, President and Chief Financial Officer to discuss the results and provide a business update. Details of the conference call and webcast are below:

Fourth Quarter and Full Year 2023 Results Conference Call Details:

Date:	Thursday, March 21, 2024
Time:	8:30 a.m. ET
Live Call:	1-888-506-0062 (Canada and the United States) 1- 973-528-0011 (International)
Access Code:	321268

The call will also be broadcast live and archived on the Company's website at www.intelgenx.com under "Webcasts" in the Investors section.

About IntelGenx

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

IntelGenx’s superior film technologies, including VersaFilm^®, DisinteQ^™, VetaFilm^® and transdermal VevaDerm^™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.

IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.

Forward-Looking Information and Statements

This document may contain forward-looking information about IntelGenx's operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about IntelGenx's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "could," "would," and similar expressions. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx's actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in IntelGenx's annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities at www.sedarplus.ca. IntelGenx assumes no obligation to update any such forward-looking statements.

Source: IntelGenx Technologies Corp.

For IntelGenx:

Stephen Kilmer
Investor Relations
(647) 872-4849
This email address is being protected from spambots. You need JavaScript enabled to view it.

Andre Godin, CPA, CA
President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
This email address is being protected from spambots. You need JavaScript enabled to view it.

SAINT LAURENT, Quebec, March 11, 2024 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSX:IGX) (OTCQB:IGXT) (the “Company”) announces that its wholly-owned subsidiary, IntelGenx Corp. (“IntelGenx Corp.”), has entered into a third amended and restated loan agreement dated as of March 8, 2024 (amending the second amended and restated loan agreement dated as of September 30, 2023) (the “Loan Agreement”) with atai Life Sciences AG (“atai”), pursuant to which, among other things, atai has agreed to make (i) one (1) additional term loan in the amount of US$1,000,000 to IntelGenx Corp., which loan is to be disbursed within three (3) business days of the execution of the Loan Agreement (the “First Tranche Loan”), and (ii) one (1) additional term loan in the amount of US$1,000,000 to IntelGenx Corp., which loan is to be disbursed upon the achievement of a pre-defined milestone (the “Second Tranche Loan” and collectively with the Second Tranche Loan, the “Additional Term Loans”). The Additional Term Loans will mature on February 1, 2026.

Subject to obtaining approval from the Toronto Stock Exchange (the “TSX”), the Loan Agreement provides for the ability for atai to convert (the “Conversion Feature”), from time to time, (i) the principal outstanding under the First Tranche Loan into shares of common stock of the Company (the “Shares”) at a conversion price of US$0.185 per Share (the “Conversion Price”), and (ii) the principal outstanding under the Second Tranche Loan into Shares at a conversion price equal to the greater of (a) the Conversion Price and (b) the 5-day volume-weighted average price (the “5-day VWAP”) of the Shares on the TSX ending on the day preceding the disbursement by atai of the Second Tranche Loan to the Company or IntelGenx, less the maximum permissible discount under the applicable TSX rules.

Additionally, and subject to approval of the TSX, the Company may elect, with the consent of atai, to pay any accrued but unpaid interest on the Additional Term Loans in Shares at a price per Share equal to the 5-day VWAP of the Shares ending on the day that is the second business day before the day the interest becomes due and payable, less the maximum permissible discount under the applicable TSX rules.

Concurrently to entering into the Loan Agreement, the Company has issued 4,000,000 warrants (the “Warrants”) to atai. The Warrants entitle atai to purchase Shares at a price of US$0.17 per Share, for a period of 36 months following their issuance.

Furthermore, on December 5, 2023, atai made a loan in the amount of US$500,000 to the Company, which will mature on December 31, 2024.

Related Party Transactions

atai is an insider of the Company as a result of its beneficial ownership of, or control or direction over, directly or indirectly, greater than 10% of the outstanding Shares. The participation of atai in the Loan Agreement (including the issuance of the Warrants) constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) which, absent any available exemption, would require a formal valuation and minority approval under MI 61-101. The board of directors of the Company unanimously determined that the Company may rely on the “financial hardship” exemption from the formal valuation and minority approval requirements set out in Section 5.5(g) and Section 5.7(e) of MI 61-101 with respect to such transaction, given that the Company is in serious financial difficulty, the participation of atai in the Loan Agreement is designed to improve the financial position of the Company, the exemption provided for in Section 5.5(f) of MI 61-101 is not available, as the transaction contemplated is not subject to court approval under bankruptcy or insolvency law, and there is no other requirement, corporate or otherwise, to hold a meeting to obtain any approval of the Company’s shareholders. In addition, the Company has one or more independent directors who have determined that the terms and conditions of the participation of atai in the Loan Agreement is reasonable for the Company in the circumstances and is in its best interests. The Company did not file a material change report in respect of the related party transaction 21 days in advance of closing of the offering because insider participation had not been determined at that time. The shorter period was necessary in order to permit the Company to close the Loan Agreement in a timeframe consistent with usual market practice for transactions of this nature.

Early Warning Disclosure

This press release is also being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”) in connection with the acquisition by atai (Wallstraße 16, 10179 Berlin, Germany) of certain conversion rights and Warrants under the Loan Agreement (the “Acquisition”). The Acquisition occurred on a private placement basis. In connection with the Acquisition, atai will advance up to US$2 million, the principal of which will be convertible into 10,810,810 Shares (assuming that the Second Tranche Loan is advanced and that the conversion price of the Second Tranche Loan will be equal to US$0.185), and atai also acquired 4,000,000 Warrants.

Immediately prior to the Acquisition, atai had ownership and control over 37,300,000 Shares and securities convertible into approximately 226,708,724 Shares representing approximately 65.78% of the issued and outstanding Shares, on a partially diluted basis. Assuming the conversion and/or exercise of the principal amount of Additional Term Loans and Warrants, atai would beneficially own or control in aggregate 278,819,534 Shares representing approximately 67% of the issued and outstanding Shares of the Company, on a partially diluted basis.

atai’s acquisitions and dispositions were made for investment purposes. In accordance with applicable securities laws, atai may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Company in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Company and other relevant factors.

An early warning report will be filed under the Company’s profile on the SEDAR+ website at www.sedarplus.ca. To obtain more information or to obtain a copy of the early warning report filed in respect of this press release, please contact atai by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of any such jurisdiction. This press release does not constitute an offer of securities for sale in the United States. The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

About IntelGenx

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films. IntelGenx’s superior film technologies, including VersaFilm®, DisinteQ™, VetaFilm® and transdermal VevaDerm™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions. IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.

Forward-Looking Information

This document may contain forward-looking information which involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. All statements, other than statements of historical fact, contained in this press release including, but not limited to, statements regarding (i) the disbursement of the First Tranche Loan and the Second Tranche Loan, (ii) the achievement of the pre-determined milestone to disburse the Second Tranche Loan, (iii) the receipt of the TSX approvals, (iv) the Conversion Feature (including the conversion price for the Second Tranche Loan), (v) the payment of interest into Shares, and (vi) generally, the “About IntelGenx” paragraph which essentially describe the Corporation’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” and are based on necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx’ actual results, objectives and plans could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading “Risk Factors” in IntelGenx’ annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities at www.sedarplus.ca. IntelGenx assumes no obligation to update any such forward-looking statements. Moreover, all forward-looking information contained herein is subject to certain assumptions. There can be no assurance that such approvals will be obtained.

For more information, please contact:

Stephen Kilmer
Investor Relations
(647) 872-4849
This email address is being protected from spambots. You need JavaScript enabled to view it.

Andre Godin, CPA, CA
President and CFO
IntelGenx Technologies Corp.
(514) 331-7440 ext 203
This email address is being protected from spambots. You need JavaScript enabled to view it.

SAINT LAURENT, Quebec, Feb. 20, 2024 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX:IGX) (OTCQB:IGXT) (the "Company" or "IntelGenx") today announced the launch of a Regulation A offering of up to 2,000,000 shares of Series A Convertible Cumulative Preferred Stock (“Series A Preferred Stock”), par value $0.00001 per share, at an offering price of $10.00 per share (the “Offering”), for a maximum Offering amount of $20,000,000.

Holders of the Series A Preferred Stock will be entitled to receive cumulative dividends in the amount of $0.20 per share each quarter, or 8% per year. Each share of Series A Preferred Stock will be convertible into twenty (20) shares of our common stock (“Common Stock) at the option of the holder, subject to certain conditions in accordance with the requirements of the Toronto Stock Exchange. Commencing on the fifth anniversary of the initial closing of this offering and continuing indefinitely thereafter, the Company shall have a right to call for redemption the outstanding shares of the Series A Preferred Stock at a call price equal to 150% of the original issue price of the Series A Preferred Stock, and correspondingly, each holder of shares of the Series A Preferred Stock shall have a right to sell the shares of Series A Preferred Stock held by such holder back to the Company at a price equal to 150% of the original issue purchase price of such shares. The Series A Preferred Stock being offered will rank, as to dividend rights and rights upon the Company’s liquidation, dissolution, or winding up, senior to the Common Stock.

“We are excited to launch this Offering of non-traded preferred shares to allow the Company to raise funds at a valuation that we believe is more reflective of our assets and business prospects,” stated Dwight Gorham, IntelGenx’s CEO. “With the pending U.S. commercial launch of RizaFilm®, which we continue to expect to occur in the second quarter, we will be entering into a phase of anticipated rapid growth. This raise will allow us to support that while we also continue to make strategic investments in the advancement of the rest of our product pipeline and services portfolio.”

Digital Offering, LLC, is acting as the sole lead managing selling agent for the Offering in the United States.

In the United States, the Offering is being made pursuant to Regulation A under the United States Securities Act of 1933, as amended (the “Securities Act”), and as a private placement in all provinces and territories of Canada, except Quebec. An Offering Statement on Form 1-A, as amended (the “Offering Statement”), relating to these securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and has been qualified. This does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. A copy of the Preliminary Offering Circular that forms a part of the Offering Statement is available on the Company’s EDGAR profile at www.sec.gov/edgar.

The securities being offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Investors can receive additional information on the Offering and participate in the Offering at www.investintelgenx.com.

This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful.

About IntelGenx

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

IntelGenx’s superior film technologies, including VersaFilm^®, DisinteQ™, VetaFilm^® and transdermal VevaDerm™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.

Forward-Looking Statements

This document may contain forward-looking statements about IntelGenx's operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act. These statements include, but are not limited to, statements about IntelGenx's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "could," "would," and similar expressions. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx's actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in IntelGenx's annual report on Form 10-K, filed with the SEC and available at www.sec.gov/edgar, and also filed with Canadian securities regulatory authorities at www.sedarplus.com. IntelGenx assumes no obligation to update any such forward-looking statements.

The Offering will be made in the United States only by means of the Offering Statement. The securities offered by IntelGenx are highly speculative. Investing in shares of IntelGenx involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue.

For additional information on IntelGenx, the Offering and any other related topics, please review the Offering Statement that can be found by searching for IntelGenx Technologies Corp. on www.sec.gov/edgar. Additional information concerning risk factors related to the Offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the section titled “Risk Factors” of the Offering Statement.

Source: IntelGenx Technologies Corp.

For IntelGenx:

Stephen Kilmer
Investor Relations
(647) 872-4849
This email address is being protected from spambots. You need JavaScript enabled to view it.

Andre Godin, CPA, CA
President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
This email address is being protected from spambots. You need JavaScript enabled to view it.

“We are excited to launch this Offering of non-traded preferred shares to allow the Company to raise funds at a valuation that we believe is more reflective of our assets and business prospects,” stated Dwight Gorham, IntelGenx’s CEO. “With the pending U.S. commercial launch of RizaFilm^®, which we continue to expect to occur in the second quarter, we will be entering into a phase of anticipated rapid growth. This raise will allow us to support that while we also continue to make strategic investments in the advancement of the rest of our product pipeline and services portfolio.”

In the United States, the Offering is being made pursuant to Regulation A under the United States Securities Act of 1933, as amended (the “Securities Act”), and as a private placement in all provinces and territories of Canada, except Quebec. An Offering Statement on Form 1-A, as amended (the “Offering Statement”), relating to these securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and has been qualified. A copy of the Preliminary Offering Circular that forms a part of the Offering Statement is available on the Company’s EDGAR profile at www.sec.gov/edgar.

The Company intends to use the net proceeds of the Offering for product launches, debt repayment and working capital purposes. The Offering is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange.

This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful.

About IntelGenx

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

Forward-Looking Statements

Source: IntelGenx Technologies Corp.
For IntelGenx:

Stephen Kilmer
Investor Relations
(647) 872-4849
This email address is being protected from spambots. You need JavaScript enabled to view it.

Andre Godin, CPA, CA
President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
This email address is being protected from spambots. You need JavaScript enabled to view it.

SAINT LAURENT, Quebec, Feb. 05, 2024 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX:IGX) (OTCQB:IGXT) (the "Company" or "IntelGenx") today announced positive results from a proof-of-concept (“POC”) study to assess the palatability, owner-perceived acceptability, and ease of repeated administration of IntelGenx’s VetaFilm^® platform in healthy dogs and cats. The POC study was conducted through a research collaboration with the University Prince Edward Island (“UPEI”), one of North America’s leading veterinary universities.

The reliable administration of medications to dogs and cats is a concern for many owners and veterinarians. There are few prescribed medications that dogs and cats will eagerly accept. Forced administration of capsules, tablets and liquids may be stressful for both the pet and its owner(s). Additionally, many owners report that medicating their pet becomes more difficult with each dose, often leading to decreased owner compliance, missed doses and potentially treatment failures. IntelGenx’s VetaFilm^®-based fast dissolving oral films (“VetaFilm^® FDOFs”) present a new and potentially superior way to medicate companion animals.

The research collaboration with UPEI evaluated: (1) the acceptance rate of various VetaFilm^® placebo formulations in dogs and cats at first exposure; (2) preference between flavours of VetaFilm^® placebo formulations in dogs and cats; (3) changes in acceptance rates over longer periods; and (4), owner perception of ease of administration, acceptance and other behaviors associated with VetaFilm^® placebo formulations.

Key findings included:

The VetaFilm^® FDOFs were well accepted and well tolerated by both dogs and cats;
Repeated dosing (twice a day for one week) showed high continued acceptance rates in both species with little or no effect of time on the continued acceptance of the VetaFilm^® FDOFs;
Overall, 100% of dog owners and 67% of cat owners felt that administration of the VetaFilm^® FDOFs was “very easy” or “easy”; and
95% of dog owners and 82% of cat owners identified VetaFilm^® FDOFs as the preferred method of medication administration.

“These results come at an opportune time as we continue to expand our Animal Health business and work toward establishing our proprietary VetaFilm^® drug delivery platform as a standard administration method for dogs and cats,” commented Dwight Gorham, IntelGenx’s CEO. “We would like to thank the esteemed clinicians and researchers at UPEI, the many pet owners, and of course the cherished dogs and cats that participated in these studies.”

About VetaFilm^®

In addition to increased compliance and convenience, there are a number of clinical advantages with administering drugs to pets via IntelGenx’s proprietary VetaFilm^® platform. Studies have demonstrated that, when administering capsules and tablets to dogs and cats, there can be a delay in reaching the stomach. But more importantly, certain medication can cause significant mucosal damage when allowed to sit in the esophagus for a prolonged period, which is often the case when ‘dry-pilling’. Finally, from a pharmacokinetic standpoint, buccal absorption may decrease the overall amount of drug required as first pass metabolism would be largely avoided.

About IntelGenx

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

Forward-Looking Information and Statements

This document may contain forward-looking information about IntelGenx's operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about IntelGenx's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "could," "would," and similar expressions. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx's actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in IntelGenx's annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities at www.sedarplus.com. IntelGenx assumes no obligation to update any such forward-looking statements.

Source: IntelGenx Technologies Corp.

For IntelGenx:

Stephen Kilmer
Investor Relations
(647) 872-4849
This email address is being protected from spambots. You need JavaScript enabled to view it.

Andre Godin, CPA, CA
President and CFO
IntelGenx Corp.
(514) 331-7440 ext 203
This email address is being protected from spambots. You need JavaScript enabled to view it.

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NEWS RELEASE

IntelGenx to Report Fourth Quarter and Full Year 2023 Financial Results on March 21, 2024 – Conference Call to Follow

IntelGenx Enters Into a Third Amended and Restated Loan Agreement With atai Life Sciences

UPDATE -- IntelGenx Launches Preferred Share Regulation A Offering

IntelGenx Launches Preferred Share Regulation A Offering

Studies Validate Advantages of Administering Drugs to Pets via IntelGenx’s VetaFilm® Platform