IntelGenx and Covenant Animal Health Team Up: A Revolutionary Leap in Non-Human Drug Delivery
IntelGenx Corp. (TSX:IGX) (OTCQB:IGXT), also known as "IntelGenx," has made a groundbreaking announcement today. The company has forged strategic development and license agreements with a subsidiary of Covenant Animal Health Partners, LLC ("Covenant Animal Health"), marking a pivotal moment in veterinary pharmaceuticals.
Under this collaboration, Covenant Animal Health will finance the development and manufacturing of a new VetaFilm®-based drug (the “Product”). In an exciting turn of events, the license agreement grants Covenant Animal Health exclusive rights to leverage this Product in non-human applications. IntelGenx, in return, is set to receive royalties from global net sales of the Product.
IntelGenx will play a critical role in manufacturing the Product for clinical development on a global scale. The parties are also gearing up for a subsequent commercial supply agreement, positioning IntelGenx as the supplier of the Product to Covenant Animal Health.
Mr. Gorham of IntelGenx expressed his enthusiasm, "We're thrilled to grow our Animal Health business with this third collaboration in the Animal Health market. Partnering with an industry heavyweight like Covenant Animal Health not only opens doors for our proprietary VetaFilm® drug delivery platform but also strengthens our vision of making it a go-to administration method for companion animals in the future."
Dr. Thomas D. Overbay, CEO of Covenant, echoed this sentiment. "Covenant Animal Health Partners, LLC was established with the mission of enabling veterinarians to practice superior medicine," he said. "Working with IntelGenx's innovative delivery systems like VetaFilm® aligns perfectly with our goal to enhance veterinary care."
This partnership signifies a major leap forward in the field of veterinary medicine, offering potential for innovative drug delivery methods that could redefine how treatments are administered to animals. As IntelGenx and Covenant Animal Health join forces, the animal health industry watches in anticipation for what's to come from this promising collaboration.
