Incannex Healthcare Limited, a pharmaceutical company developing the unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for the unmet medical needs announced that, the company is going to acquire the APIRx Pharmaceutical USA, LLC, that are subject to the approval of shareholder under the Rule 7.1 of ASX listing.
This acquisition of the APIRx is significantly going to strengthening the position of Incannex as a market leader at the forefront of the psychedelic and cannabinoid treatment development.
This partnerships is going to add a large portfolio of the intellectual property with the pending and granted patents. It will also expand addressable markets of Icannex across the globe and will also further enhancing the technical and drug development capability of Incannex by adding some of the long standing and best scientists of the company.
The partnership is also going to expand the drug delivery capability of the company for including patented delivery technologies of APIRx’s. APIRx is also going to be entitling to nominate around one board member to Incannex after the completion of the proposed transaction.
Mr. Joel Latham, managing director and CEO of Incannex said that, they believe that bringing together Incannex and APIRx is going to be bolstering their position as a leader in the industry of medicinal cannabinoid and is further going to set IHL apart from the other players in the industry.
Dr. George Anastassov, co-founder of APIRx said that, they are very delighted for partnering with the IHL team as they are believing that their extensive experience and broad IP asset base that is perfectly positioned for the expansion and development within the IHL organization in the future.
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