IntelliPharmaCeutics Provides Update on Activities

    TORONTO, Aug. 8 /CNW/ - IntelliPharmaCeutics is pleased to provide an
update on our activities. References in this press release to the Company,
include IntelliPharmaCeutics Ltd. and our operating affiliate
IntelliPharmaCeutics Corp.
    The Company has been very active with drug development work at our 25,000
square foot R&D and manufacturing facility in Toronto, Canada. We presently
have 34 staff employed full-time including 21 scientists, 2 engineers and 4
R&D support staff.
    Some information provided in this letter is consolidated from press
releases previously issued by the Company and some is updated from the
information included in the Company's filing with the U.S. Securities Exchange
Commission ("SEC") last November.
    We are actively working on developing 8 products for third-party
pharmaceutical companies. In addition the Company is also actively pursuing
development of 6 drug products for its sole benefit. These are comprised of 4
US abbreviated new drug applications ("ANDA's"), 1 US new drug application
("NDA") and 1 Canadian abbreviated new drug submission ("ANDS").
    In March 2008, the Company issued a press release to confirm that it had
completed a successful pilot clinical trial for its own new abuse-resistant,
alcohol-resistant once-per-day oral oxycodone drug product which treats pain.
We are currently pursuing the next stage of development for this product.
    In May 2007, the Company filed an ANDA with the U.S. Food and Drug
Administration ("FDA") for a drug developed in collaboration with a partner,
Par Pharmaceutical ("Par") and intended for the US market. In August 2007,
that application was accepted by the FDA as being complete and in condition
for their further review. In October 2007, the owners of the branded version
of this product commenced litigation relating to the generic version against
our drug development partner Par and the Company. Our development partner Par
has carriage of the defense. We consider such litigation to be in the ordinary
course in relation to generic drug products and have been advised by Par that
it will be defended vigorously. The Company previously issued a press release
relating to both the FDA acceptance and the litigation and its defense.
    We have also provided the table below to summarize the development status
of the 14 drug products currently under development. This information has been
updated since the information on 12 of the products was provided in our
November 2007 filing with the SEC; and it now includes 2 additional drug
products (Products XIII and XIV listed below).
    As is customary in a competitive generic drug market where knowledge of
development by a competitor can trigger or accelerate steps by other drug
developers to complete their own development for that product and be "first to
file" with various exclusivity and priority rights that can sterilize the
value of a product under development, the drugs in the Company's current
pipeline are indicated by a product number rather than by a name. The public
disclosure of the name of a drug product under development would provide that
information to competitors and would expose the Company's drug development of
that product to exceptional and unusual competitive risks.

    Summary of Status / Stage of IntelliPharmaCeutics Drugs Under Development

    Product (Country)        Type                 Status
    Product I (USA)          ANDA     Scale-up to Manufacturing Scale
    Product II (USA)         ANDA     Scale-up to Manufacturing Scale
    Product III (USA)        ANDA     Pivotal Bioequivalence Studies
    Product IV (USA)         ANDA     Filed with FDA
    Product V (USA)          ANDA     Scale-up to Manufacturing Scale
    Product VI (Canada)      ANDS     Bioequivalence Studies
    Product VII (Canada)     ANDS     Production for Pilot Bioequivalence
    Product VIII (USA)       NDA      Pilot Bioavailability Studies
    Product IX (USA)         ANDA     Pivotal Studies
    Product X (USA)          ANDA     Pilot Equivalence Studies
    Product XI (USA)         ANDA     Formulation
    Product XII (USA)        ANDA     Pre-formulation
    Product XIII (USA)       NDA      Pilot Bioavailability Studies
    Product XIV (USA)        ANDA     Scale-up to Manufacturing Scale

    To provide additional context for the stages of development identified
above, we have also provided below a list of the major research and
development steps which the Company must execute or oversee for each ANDA or
NDA candidate prior to filing with a regulator such as the FDA:

    1)  Pre-Formulation
    2)  Formulation
    3)  Manufacture of Pilot Bio-batches
    4)  Conduct Pilot Bioequivalence Studies
    5)  Scale-up to Manufacturing Scale
    6)  Manufacture of Batches for Pivotal Bioequivalence Studies
    7)  Conduct Pivotal Bioequivalence Studies
    8)  Conduct Stability Studies
    9)  Prepare and File Dossier with the FDA

    As noted above, we continue to advance development work on our partnered
projects, while also working on the Company's own drug products.

For further information:

For further information: John N. Allport, V.P. - Legal Affairs &
Licensing, Tel: (416) 798-3001, Ext. 104, E-mail:

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