Cannasat Therapeutics and IntelGenx Enter Into Agreement to Develop Cannabinoid-Based Products for the Treatment of Mood Disorders Such as Anxiety and Depression
- Category: Small Molecules
- Published on Wednesday, 21 March 2007 02:00
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TORONTO, ONTARIO and SAINT LAURENT, QUEBEC, Canada | Mar 20, 2007 | Cannasat Therapeutics Inc. (TSX VENTURE: CTH) and IntelGenx Corp. (OTCBB: IGXT) today announced a long-term collaborative agreement to co-develop a novel cannabinoid-based product, CAT 320, through a combination of Cannasat's and IntelGenx's proprietary drug delivery technologies.
Cannasat is enthusiastic about CAT 320, a product that targets the endocannabinoid system to treat mood disorders such as anxiety and depression. Mood disorders have been estimated to affect 9-20 per cent of the population and an estimated 18 per cent of North American adults yearly suffer from an anxiety disorder(1)(2). These disorders are currently treated with drugs that have estimated annual worldwide sales of USD $20 billion.
Anxiety disorders are considered the most prevalent of psychiatric disorders. Anxiety is an unpleasant, emotional state that is hard to control and that often interferes with daily functioning. It involves a complex combination of emotions that include fear, apprehension, and worry. Poor diagnosis rates and treatment outcomes mean that there is still considerable opportunity for Cannasat to move into the anxiety and/or depression markets.
Cannasat will leverage IntelGenx's significant experience in developing unique oral, sublingual, and transdermal formulations. IntelGenx's expertise will help address the challenges of achieving rapid onset, improving therapeutic efficacy, and minimizing the total dose required to treat disease conditions.
"We are excited to work with IntelGenx to develop a new cannabinoid pharmaceutical product that could be used to treat indications such as anxiety where there is currently a large unmet medical need for new therapies. IntelGenx's technology platform complements our existing drug delivery technologies and provides us an opportunity to broaden our growing intellectual property portfolio and product development pipeline." said David Hill, CEO of Cannasat Therapeutics.
"The partnership with Cannasat represents an important element in the development of our company, and we are excited to expand our strategic alliance with Cannasat to include the development of new cannabinoid-based pharmaceuticals that could potentially address a wide range of therapeutic indications" said Dr. Horst Zerbe, CEO of IntelGenx Corp.
(1) Witkin et al., 2005
(2) NIMH (National Institute of Mental Health)
ABOUT INTELGENX CORP.
IntelGenx Corp. is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The company uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastro-intestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. The company's research and development pipeline includes products for the treatment of osteoarthritis, pain management, smoking cessation, and depression.
ABOUT CANNASAT THERAPEUTICS INC.
Cannasat Therapeutics is researching the therapeutic benefits of cannabis and developing novel cannabinoid pharmaceutical products. Cannasat is pursuing two complementary business strategies. The first consists of development of novel cannabinoid-based pharmaceutical products through application of drug delivery technologies to be introduced to the market through the traditional regulatory drug approval process. The second is to promote medicinal cannabis research and education with Cannasat's business partner, Prairie Plant Systems Inc., the sole government licensed grower and distributor of medicinal cannabis in Canada.
The TSX Venture Exchange and OTC.BB have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Intelgenx Corporation and Cannasat Therapeutics Inc