MONTRÉAL, Oct. 02, 2024 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (the 'Company” or 'IntelGenx”), a leading drug delivery company focused on the development and manufacturing of pharmaceutical films, announces that the Company and its subsidiary IntelGenx Corp. ('IGX” and, together with the Company, the 'IGX Entities”) have obtained on September 30, 2024 an approval and vesting order (the 'Approval and Vesting Order”) from the Superior Court of Québec (Commercial Division) (the 'Court”) issued in connection with the previously announced proceedings instituted pursuant to the Companies' Creditors Arrangement Act (the 'CCAA”).

The Approval and Vesting Order approved the previously announced transactions (collectively, the 'Transaction”) contemplated in the sale proposal from atai Life Sciences AG ('atai”), as well as the implementation of a reorganization of the IGX Entities that involves: (a) the incorporation of two new entities ('Residual IGX” and 'New ParentCo”) to ultimately hold certain excluded liabilities of IGX and certain excluded assets, and (b) the exchange of the shares of IGX, on a one-for-one basis, for common shares of New ParentCo.