IntelGenx Technologies Corp. strategic partnership with ATAI Life Sciences AG
May 13, 2021
12.00 Million USD
On May 14, 2021, IntelGenx Technologies Corp. ("IntelGenx"), a leader in pharmaceutical films completed the previously announced US$12 million private placement forming part of a strategic partnership with ATAI Life Sciences AG ("atai"). As a result of the investment, atai now holds approximately 25% of the issued and outstanding common stock of IntelGenx. Atai also has the option to acquire additional securities to hold approximately 60% of the issued and outstanding common stock of IntelGenx.
As part of the strategic partnership, IntelGenx will exclusively partner with atai to develop compounds for the prevention or treatment of mental health diseases or disorders, including compounds that have psychedelic, entactogenic and/or oneirophrenic properties. The strategic partnership with atai is expected to position IntelGenx as a leader within the novel therapeutics field of psychedelics and providing the requisite financial resources to continue to advance its robust portfolio of other innovative pharmaceutical film product candidates towards commercialization.
IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.
atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders.
McCarthy Tetrault LLP advised IntelGenx with a team led by Fraser Bourne that includes Myreille Gilbert and Mireille Trottier (Securities) and François Dupuis (Financial Services).