In March, IntelGenx Technologies Corp. (IGX) announced that its wholly-owned subsidiary, IntelGenx Corp, has agreed to a strategic partnership with atai Life Sciences (ATAI), one of the industry’s largest clinical-stage biopharmaceutical companies aiming to transform the treatment of mental health disorders.
In connection with this partnership, atai acquired ~25% of IntelGenx for approximately $12.3 million and granted the subsidiary an initial secured loan worth $2 million.
In our latest episode, Adam Tubero explains what the partnership means for both companies moving forward, how investors reacted to the news, and why the microcap, ItelGenX, deserves a spot on your investment radar.