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SAINT LAURENT, Quebec, March 21, 2024 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX:IGX)(OTCQB:IGXT) (the "Company" or "IntelGenx") today reported financial results for the three- and twelve-month periods ended December 31, 2023. All dollar amounts are expressed in U.S. currency, unless otherwise indicated, and results are reported in accordance with United States generally accepted accounting principles except where noted otherwise. "We successfully executed against key strategic priorities in 2023, the most important of which was to lay the groundwork for our product pipeline and services portfolio to start generating significant revenues in 2024,” commented Dwight Gorham, IntelGenx’s CEO. “To that end, we expect that our commercial partner for RIZAFILM®1, Gensco Pharma, will be launching the product in the United States in Q2-2024, an anticipated inflection point for our business.” 2023 Fourth Quarter Financial Summary: Revenue was $426,000, up from $173,000 in the 2022 fourth quarter. Net comprehensive loss was $1.7 million, down from $2.3 million in the fourth quarter of 2022. Adjusted EBITDA loss was $1.7 million, compared to $2.3 million in Q4-2022. 2023 Full-Year Financial Summary: Revenue was $1.04 million, compared to $950,000 in 2022. Net comprehensive loss was $10.1 million, down from $11.6 million in 2022. Adjusted EBITDA loss was $8.3 million, compared to $8.5 million in 2022. Fourth Quarter and Recent Developments: Closed a non-brokered private placement financing with atai Life Sciences AG (“atai”) for aggregate gross proceeds of $750,000, and announced an amended and restated loan agreement (the “Loan Agreement”) with atai, pursuant to which IntelGenx received a first tranche of $1 million and is eligible to receive a second tranche of $1 million in future upon the achievement of a pre-defined milestone. Launched a Regulation A offering of up to 2 million shares of Series A Convertible Cumulative Preferred Stock, par value $0.00001 per share, at an offering price of $10.00 per share (the “Regulation A Offering”).2 Entered into a further amendment to its November 2018 license, development and supply agreement with Tilray Brands Inc. (“Tilray”) for the co-development and commercialization of cannabinoid-infused VersaFilm® products, and received an initial purchase order from Tilray for three SKUs (CBD20, THC10, THC10:CBD 10), with each SKU totalling 130,000 filmstrips. Entered into development and license agreements with a wholly-owned subsidiary of Covenant Animal Health Partners, LLC for VetaFilm®. Received approvals from the Swedish Medical Products Agency, the Swedish Ethical Review Authority, and the Regional Biobank Centre to conduct the ’MONTPARK’ Montelukast VersaFilm® Phase 2 clinical trial in patients with Parkinson's Disease. Announced positive results from a proof-of-concept study, conducted through a research collaboration with the University of Prince Edward Island, that validated the advantages of administering drugs to pets via its VetaFilm® platform. Announced changes to its Board, appointing Sahil Kirpekar, M.D., atai’s Chief Business Officer, and Ryan Barrett, atai’s Senior Vice President and General Counsel, as atai’s new designees. Financial Results: Total revenues for the three-month period ended December 31, 2023 amounted to $426,000, an increase of $253,000, or 146%, compared to $173,000 for the three-month period ended December 31, 2022. The change is mainly attributable to an increase in research and development (“R&D”) revenues. Operating costs and expenses were $2.4 million for the fourth quarter of 2023, versus $2.7 million for the corresponding three-month period of 2022. For Q4-2023, the Company had an operating loss of $2.0 million, down from $2.5 million for the comparable period of 2022. Net comprehensive loss was $1.7 million, or $0.01 per basic and diluted share, for the fourth quarter of 2023, compared to net comprehensive loss of $2.3 million, or $0.01 per basic and diluted share, for the comparable period of 2022. Total revenues for the twelve-month period ended December 31, 2023 amounted to $1.04 million, representing an increase of $89,000, or 6%, compared to $950,000 for the year ended December 31, 2022. Operating costs and expenses were $10.5 million for the full year 2023, versus $10.4 million for the corresponding twelve-month period of 2022. For the twelve-month period of 2023, the Company had an operating loss of $9.5 million, compared to an operating loss of $9.4 million for the comparable period of 2022. Net comprehensive loss was $10.1 million, or $0.06 per basic and diluted share, for the twelve-month period of 2023, compared to net comprehensive loss of $11.6 million, or $0.07 per basic and diluted share, for the comparable period of 2022. As at December 31, 2023, the Company's cash and short-term investments totalled $2.3 million. Subsequent to year-end, IntelGenx announced the launch of the Regulation A Share Offering and received $1 million pursuant to its Loan Agreement with atai. Annual Filings: The Company's annual report on Form 10-K and financial statements for the year ended December 31, 2023, as well as the 2024 Proxy Statement, will be filed with the United States Securities and Exchange Commission and the Canadian Securities regulatory authorities today, March 21, 2024. Conference Call Details: IntelGenx will host a conference call to discuss these 2022 fourth quarter and full year financial results today at 8:30 a.m. ET. The dial-in number for the conference call is (888) 506-0062 (Canada and the United States) or (973) 528-0011 (International); access code 321268. The call will be also be webcast live and archived on the Company's website at under "Webcasts" in the Investors section. 1 RIZAFILM® is a Registered Trademark of Gensco® Pharma Corporation. 2 This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful. About IntelGenx IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films. IntelGenx’s superior film technologies, including VersaFilm®, DisinteQ™, VetaFilm® and transdermal VevaDerm™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions. IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit . Forward-Looking Information and Statements This document may contain forward-looking information about IntelGenx's operating results and business prospects that involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, but are not limited to, statements about IntelGenx's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "could," "would," and similar expressions. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx's actual results could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading "Risk Factors" in IntelGenx's annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at , and also filed with Canadian securities regulatory authorities at . IntelGenx assumes no obligation to update any such forward-looking statements. Source: IntelGenx Technologies Corp. For IntelGenx: Stephen Kilmer Investor Relations (647) 872-4849 stephen@kilmerlucas.com Or Andre Godin, CPA, CA President and CFO IntelGenx Corp. (514) 331-7440 ext 203 andre@intelgenx.com

Yossi Ben Amram Appointed President as Bio-AI Innovator Continues to Expand Roster of Influential Experts Guiding Its Global GrowthBOSTON and TEL AVIV, Israel, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Quris-AI, an artificial intelligence (AI) innovator disrupting the pharmaceutical arena, announced the addition of Michel Vounatsos, former CEO of Biogen, to its Board of Directors, and the appointment of Yossi Ben Amram, former Merck & Co., Inc. (MSD) Regional President, as President of Quris-AI. “Adding accomplished pharmaceutical leaders such as Yossi Ben Amram and Michel Vounatsos to our leadership team will be invaluable in our push for a pharma Bio-AI revolution. Both bring a deep understanding of industry dynamics, relationships, global growth strategies, and unique perspectives that will be tremendously beneficial as we continue to scale,” stated Dr. Isaac Bentwich, CEO and Founder of Quris-AI. “I look forward to their insights and contribution as they help guide our exceptionally talented and diverse team’s platform development, partnership program, and global growth efforts in the years ahead.” Joining a deep bench of prolific pharma and drug industry visionaries who help steer the company’s scientific breakthroughs and global growth, Ben Amram and Vounatsos will now dedicate their time to supporting Quris-AI's mission to close the clinical prediction gap. The entire Quris-AI team is committed to developing safer drugs, faster and driving a surge in drug advancements for rare diseases and personalized medicine by dramatically reducing the cost and risks of drug innovation. "The Bio-AI platform is bringing us a new era in drug development and personalized care. I am beyond excited to be a part of the next phase of accelerated innovation, and I look forward to working with the extraordinary team at Quris-AI," added Vounatsos. Michel Vounatsos brings extensive global leadership and management experience in the biopharmaceutical industry, including having served as CEO and member of the Board of Directors of Biogen, Inc. from early 2017 until November 2022. Before joining Biogen, he spent two decades at Merck & Co. in various senior leadership positions, including President of MSD China, President of Primary Care & Merck Customer Centricity, and commercial leadership positions throughout Europe. Earlier in his career, Vounatsos held management positions at Ciba-Geigy. An experienced Board member, he currently sits on the Boards of Revvity, Inc., a global life science and diagnostics company, and Zai Lab Limited, a global biopharma company. Vounatsos earned his MBA from the HEC School of Management in Paris, France, and his C.S.C.T. certificate in Medicine from Université Victor Segalen, Bordeaux II, France. "Joining Quris-AI is a privilege, as the company represents the essence of innovation and discovery at the intersection of AI and biology, featuring a stellar team of the best scientists in the field and groundbreaking technology. Its 'patient-on-a-chip' platform and hybrid AI/ML approaches are fascinating – in fact, they're revolutionary,” added Ben Amram. “In the age of the AI boom and the FDA’s Modernization Act 2.0, the timing could not be more perfect for Quris-AI's vision to disrupt the drug discovery and delivery paradigm. This company isn't just ready to partner with big pharma and tech giants; it's set to lead the charge. I'm enthusiastic to be part of this pivotal journey, where we are witnessing history and actively shaping it." With more than three decades of experience spanning a dynamic cross-section of pharmaceutical companies, Yossi Ben Amram will offer strategic guidance in building and leading diverse global teams, cultivating critical alliances and industry partnerships, and accelerating international growth plans. He has held various senior leadership positions at pharmaceutical companies around the globe, including Merck & Co., Inc. (known as MSD outside the United States and Canada), where he spent over two decades in key roles, including serving as President of MSD EURAM (Europe, Russia, Africa, and the Middle East) and led a $4B business covering more than 100 countries. He was a member of the Global Human Health (GHH) Bone, Respiratory, Immunology & Dermatology (BRID) franchise, served as a vice president and global brand leader for Respiratory products, global brand leader for SINGULAIR®, and managing director of MSD in Israel. Prior to Merck, Ben Amram held several positions at TEVA Pharmaceuticals in Israel. Currently, Ben Amram serves as a Board Member at clinical-stage biopharma company PolyPid Ltd. He earned his MBA and a B.A. in Economics and Management from Tel Aviv University. Watch this video for perspective on how Quris-AI is reshaping the drug development process. Review Quris-AI’s inaugural United Nations Sustainable Development Goals (SDGs) Impact & Environmental, Social and Governance (ESG) Review for more details on the company’s global impact. ABOUT QURIS-AIQuris-AI, the world’s first Bio-AI clinical prediction platform, ensures the safety and efficacy of new drugs. Revolutionizing the drug development process, the company is pioneering clinical trials on chips–testing thousands of novel drug candidates on hundreds of miniaturized “patients-on-a-chip.” Its fully automated, self-training AI platform accurately predicts clinical safety and efficacy for novel drugs faster and more cost-effectively than ever before – all while minimizing animal testing. Dual-headquartered in Boston and Israel and backed by strategic biotech and big data investors, Quris is led by a proven team of AI and medical research powerhouses who are already preparing its lead discovery for clinical trials. For more information, visit www.quris.ai. Media Contact:Erica CamiloConnexa Communications for Quris-AI1.610.639.5644erica@connexacommunications.com Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/ba715db0-15e1-499c-8693-0b0ab1869c9fhttps://www.globenewswire.com/NewsRoom/AttachmentNg/46b0e95d-fb30-4b1b-9753-bc75b57f5fc0