On September 12, 2016 IntelGenx Corp., (TSXV: IGX) (OTCQX: IGXT), reported that they have entered into a licensing, development and supply agreement with Chemo Group ("Chemo") granting Chemo the exclusive license to commercialize two generic products for the USA market and one product on a worldwide basis (Filing, 8-K, IntelGenx, SEP 12, 2016, View Source [SID:SID1234515092]).

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The Chemo Group is a privately held global pharmaceutical company with over 5,000 employees and operations in over 40 countries and revenues over $1.2 billion annually.

Under the terms of the agreement, Chemo has obtained certain exclusive rights to market and sell IntelGenx’ products in exchange for upfront and milestone payments, together with a share of the profits of commercialization. Chemo also has a right of first refusal to obtain the exclusive commercialisation rights for two of the products to include any country outside the USA.

"We are pleased to have established a partnership with a significant global pharmaceutical company," commented Dr. Horst Zerbe, President and CEO of IntelGenx. "This is the first step into a long term strategic alliance. We see the completion of this deal as further validation of our oral delivery platforms and our ability to attract high quality partnerships. This partnership is the beginning of what we believe will lead to further product agreements in expanding our global reach of our innovative product pipeline."