IntelGenx Technologies Corp. (TSX-V: IGX;) (OTC-BB: IGXT) ("IntelGenx" or the "Company") has engaged Bolder Investment Partners, Ltd. (the "Agent"), to complete an equity offering by way of a private placement in Canada (the "Offering").  The Agent has been engaged on a best efforts agency basis to raise gross proceeds of up to CAD$2.5 million by issuing units priced at CAD$0.40.  Each unit consists of one common share of the Company's stock and one share purchase warrant. Each warrant will entitle its holder to purchase one additional common share of the Company's stock for CAD$0.50 exercisable for a 36 month period commencing on the closing of the Offering. 

All securities issued under the Offering will be subject to resale restrictions under Canadian and US securities laws.  In Canada, the securities will be restricted from resale for a period of 4 months from the closing date, and in the United States for a period ending on the earlier of 6 months after the closing date and the effectiveness of the registration statement to be filed with the United States SEC.  The Company will file a resale registration statement with the United States Securities & Exchange Commission within 30 days of the closing to register all securities issued to subscribers and the agent under the Offering, and will use its best efforts to have the registration statement declared effective within 120 days of the closing.

IntelGenx plans to use the net proceeds from the Offering for the continued development and commercialization of drugs to be delivered using IntelGenx' patented and proprietary oral drug delivery technologies, for working capital and for capital expenditures.

The Offering is scheduled to close on or about August 26, 2010 and is subject to certain conditions, including, but not limited to, the approval of the TSX Venture Exchange.

The securities discussed herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereof.  This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom.

The Company also announces the re-pricing of 2,142,857 outstanding warrants issued in connection with the 2007 convertible debenture financing. The exercise price of these warrants has been amended from US$0.80 to CAD$0.50/US$0.48 per common share.  The expiry provision of the warrants has also been amended to the effect that the exercise period should be accelerated if the market price of the shares trade at, or above, $0.625 for a period of 60 consecutive trading days. The triggering premium price will be determined by using the average closing price on the TSX-V and the OTC.BB. Thereafter, warrant holders will have 30 days to exercise the warrants. All other conditions of the warrants will remain unchanged. The re-pricing of the warrants is subject to applicable regulatory approval.

About IntelGenx:

IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx 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' 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.

Forward Looking Statements:

This document may contain forward-looking information about IntelGenx' 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' 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' 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' annual report on Form 10-K for the fiscal year ended December 31, 2009, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities and www.sedar.com. IntelGenx assumes no obligation to update any such forward-looking statements.

Each of the TSX Venture Exchange and OTC Bulletin Board has neither approved nor disapproved the contents of this press release.

CONTACT

IntelGenx Technologies Corp.
Dr. Horst G. Zerbe,
President and CEO
T: 514-331-7440 (ext. 201)
F: 514-331-0436
horst@intelgenx.com
www.intelgenx.com