SAINT LAURENT, Quebec, April 26, 2013 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. ("IntelGenx", or the "Company") (TSX-V:IGX) (OTCQX:IGXT) announced today that the Company's board of directors granted options to acquire 680,000 common shares under the 2006 Stock Option Plan as amended. Of the total stock options granted, 480,000 were granted to the Chief Operating Officer and Chief Scientific Officer, Dr. Rajiv Khosla, and 200,000 were granted to the Chief Financial Officer, Paul A. Simmons.
The options have an exercise price of CAD$0.67 and expire on April 23, 2018. All of the options granted to Mr. Khosla vest on December 31, 2015. The options granted to Mr. Simmons vest over a period of two years at the rate of 25 % every six months.
In addition, 32,500 unvested options that were granted to Dr. Khosla in November 2011 expired upon issuance of the above options.
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 indications such as severe depression, hypertension, erectile dysfunction, migraine, insomnia, CNS indications, idiopathic pulmonary fibrosis, oncology and pain, as well as animal health products. 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.