Cary, IntelGenx deal

The partners terminated a 2007 deal to co-develop CPI-300. IntelGenx will assume full ownership of the oral antidepressant containing a high-strength formulation of bupropion developed using its controlled-release drug delivery technology. Cary will be eligible for 10% of royalties and 3% of upfront payments received by IntelGenx in any future marketing deals. IntelGenx also will assume responsibility for ongoing litigation against Biovail Corp. (TSX:BVF; NYSE:BVF, Mississauga, Ontario) in which Biovail alleges that CPI-300 infringes its patent covering antidepressant Wellbutrin XL bupropion extended-release. A pre-trial claim construction hearing is scheduled for June. ...