SAINT LAURENT, Quebec, Nov. 30, 2011 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. ("IntelGenx") (TSX-V:IGX) (OTCBB:IGXT) announced today that the Company's board of directors granted options to acquire 240,000 common shares effective November 29, 2011. All options were granted under the 2006 Stock Option Plan as amended, with an exercise price of C$0.55 and expire in five years. All options vest over a period of two years at the rate of 25% every six months.
Of the total stock options granted, 75,000 were granted to one of the Company's non employee directors, Rajiv Khosla, and 40,000 to the non employee director, Bernard Boudreau. The company also granted 40,000 options to purchase common shares to the CEO and President, Horst G. Zerbe, 35,000 to the CFO, Paul A. Simmons and 15,000 to the Corporate Secretary, Ingrid Zerbe. Furthermore, a total of 35,000 options to purchase common shares were granted to two employees of the company.
About IntelGenx Corp.
IntelGenx Corp. is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. The company uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastrointestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. IntelGenx's research and development pipeline includes products for the treatment of pain, hypertension, osteoarthritis and depressive disorders. More information is available about the company at www.intelgenx.com.
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