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Research: Healthcare
Incannex Healthcare, an Australian cannabinoid and psychedelic medicines biotech, has announced that it has completed the acquisition of APIRx Pharmaceuticals (APIRx), a US biotechnology company focused on the development and manufacture of cannabinoid formulations. In an all-share transaction, Incannex has acquired 100% of the issued share capital in APIRx. APIRx’s pipeline consists of 22 clinical and pre-clinical therapeutic cannabinoid development programmes and an extensive intellectual property portfolio of 19 granted patents and 23 patents pending. The deal strengthens Incannex’s market position and provides it with what we believe is one of the sector’s most diversified portfolios of medicinal cannabinoid drug formulations and psychedelic treatment regimes. The transaction offers synergies, in terms of both portfolio alignment and route to market strategy for products, and offers Incannex near- and longer-term opportunities.
Incannex Healthcare |
APIRx acquisition to bolster portfolio
Healthcare |
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8 August 2022 |
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Incannex Healthcare, an Australian cannabinoid and psychedelic medicines biotech, has announced that it has completed the acquisition of APIRx Pharmaceuticals (APIRx), a US biotechnology company focused on the development and manufacture of cannabinoid formulations. In an all-share transaction, Incannex has acquired 100% of the issued share capital in APIRx. APIRx’s pipeline consists of 22 clinical and pre-clinical therapeutic cannabinoid development programmes and an extensive intellectual property portfolio of 19 granted patents and 23 patents pending. The deal strengthens Incannex’s market position and provides it with what we believe is one of the sector's most diversified portfolios of medicinal cannabinoid drug formulations and psychedelic treatment regimes. The transaction offers synergies, in terms of both portfolio alignment and route to market strategy for products, and offers Incannex near- and longer-term opportunities.
The acquisition of APIRx expands Incannex’s global portfolio of cannabinoid and psychedelic medicines. As Incannex is currently progressing with the clinical development of cannabinoid combination products, the acquisition is anticipated to diversify the company’s portfolio and product offering. While Incannex’s management does not expect its current development programmes to be affected by the addition of new projects resulting from the acquisition, the expanded development platform will require additional capital.
Incannex’s clinical strategy for many of its existing assets is to pursue the FDA 505(b)(2) regulatory pathway to expedite clinical development by leveraging pre-existing public data for existing registered products. We expect the company to employ a similar strategy with products from APIRx’s portfolio, with the MedChew Rx (pain in multiple sclerosis) and MedChew Dronabinol (nausea from chemotherapy) programmes representing the most immediate commercial opportunities.
The deal brings with it APIRx’s substantial patent portfolio covering active pharmaceutical ingredients, formulations, methods of use and drug delivery technologies. This provides commercial exclusivity across all stages of the cannabinoid drug development process while providing opportunities for Incannex to enhance the therapeutic benefits of its existing assets.
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Source: Incannex Healthcare |
Incannex Healthcare is a research client of Edison Investment Research Limited
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