IntelGenx gets amended license to carry out 3rd party testing in Canada
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- IntelGenx (OTCQB:IGXT) said it received an amended Drug Establishment License (DEL) from Health Canada allowing it to conduct third-party testing.
- IntelGenx added that analytical testing of finished products and intermediates is an underserved market, and the company has decided to tap into it. The company sees this as an opportunity for short-term revenue generation.
- "By expanding our core CDMO business to include a third-party testing services offering, our aim is to offer 'one-stop-shopping' to our development partners," said IntelGenx's CEO Dwight Gorham. "This surplus in capacity allows us to seize the opportunity to generate revenue from third-party testing without any additional investment."
- IntelGenx's noted that it has a controlled substance license and the amended DEL license could be of particular importance due to this.