Business
Incannex to Acquire APIRx Pharmaceuticals USA, LLC
Highlights: APIRx has twenty-two (22) active clinical and pre-clinical research and development projectstherapeutic candidates are targeted at treating pain,
About this update from Incannex Healthcare Inc.
[{"type":"text","content":"Highlights:\nAPIRx has twenty-two (22) active clinical and pre-clinical research and development projectstherapeutic candidates are targeted at treating pain, dementia, Parkinson's disease, restless leg syndrome, gastrointestinal diseases, periodontitis, addiction disorders, skin conditions and ophthalmic conditionstherapeutic candidates are underpinned by an extensive intellectual property portfolio that includes 19 granted patents and 23 pending patentsproposed acquisition price of US$93.3M in all scrip transactionthe transaction affirms Incannex's position as a global leader in the fields of cannabinoid, psychedelic, and combination pharmaceuticals.MELBOURNE, Australia, March 24, 2022 /PRNewswire/ -- Incannex Healthcare Limited (Nasdaq: IXHL) (ASX: IHL), ('Incannex' or the 'Company') a clinical-stage pharmaceutical company developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for unmet medical needs, today announced that it has executed a term sheet with binding commercial terms to wholly acquire APIRx Pharmaceutical USA, LLC ('APIRx'), subject to shareholder approval under ASX listing Rule 7.1.\nAbout APIRx – First Mover in Pharmaceutical Medicinal Cannabinoid Product Development\nAPIRx is an innovative biotechnology company focused on research, development, and production of prescription pharmaceutical cannabinoid medicines. It has twenty-two (22) active clinical and pre-clinical research and development projects utilising proprietary technologies. The acquisition of APIRx brings to Incannex a diverse portfolio of promising therapeutic candidates targeted at treating an extensive range of conditions including pain, dementia, Parkinson's Disease, restless leg syndrome, gastrointestinal diseases, periodontitis, addiction disorders, skin conditions and ophthalmic conditions. A comprehensive table of the therapeutic candidates, their stage of development and their significant addressable markets are listed in Appendix A.\nAPIRx was established as a corporate entity in the Netherlands to amalgamate the intellectual property assets of medicinal cannabis pioneers, and APIRx co-founders, Dr George Anastassov and Mr Lekhram Changoer. Dr Anastassov and Mr Changoer have collaborated since 2003 to develop the largest privately held patent portfolio pertaining to pharmaceutical cannabinoid inven...