SAINT LAURENT, Quebec, Dec. 7, 2012 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. ("IntelGenx") (TSX-V:IGX) (OTCQX:IGXT) announced today that the Company's board of directors granted options to acquire 55,000 common shares effective December 4, 2012. All options were granted under the 2006 Stock Option Plan as amended, with an exercise price of C$0.60 and expire in five years. All options vest over a period of two years at the rate of 25% every six months.
Of the total stock options granted, 30,000 were granted to the CEO and President, Horst G. Zerbe and 25,000 to the CFO, Paul A. Simmons.
IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastrointestinal 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. IntelGenx' development pipeline includes products for the treatment of severe depression, hypertension, erectile dysfunction, benign prostatic hyperplasia, migraine, insomnia, idiopathic pulmonary fibrosis, allergies and pain management. More information is available about the company at www.intelgenx.com.
Each of the TSX Venture Exchange and OTCQX has neither approved nor disapproved the contents of this press release.