IntelGenx has formed a partnership with Circ Pharma to formulate, manufacture and supply Circ with a new drug product for the treatment of hyperlipidemia, which Circ will develop and commercialize.

Under the terms of the agreement, the Dublin, Ireland-based Circ will fund the development of the product and IntelGenx will receive royalties from the product's sales. The Saint Laurent, Quebec-based IntelGenx said it will use its proprietary Versatab technology to formulate the product.

The companies said that this is the first product in a series of Circ’s controlled release lipid-lowering agents designed to target the absorption of drug to reduce the dose and potentially lower the side effects. They expect that the product will reach the market in 2012.