Incannex Completes IND Meeting for Development of CBD CannQuit-O for Opioid Use Disorder

Australian psychedelic medicine company, Incannex Healthcare Inc. (Nasdaq: IXHL), has successfully completed a pre-IND (Investigational New Drug) meeting with the FDA regarding the development of CannQuit-O for treatment of Opioid Use Disorder (OUD). CannQuit-O is a chewable tablet that offers rapid and sustained release of its active ingredients, including an opioid agonist, antagonist and cannabidiol (CBD). The company’s share price rose 4.0% in early trading on Friday following the news.

The company said in a statement that its discussion with the FDA represents an important milestone for the development of CannQuit-O and provides Incannex with valuable guidance for successful clinical development in OUD.

“Opioid use disorder is a significant issue impacting millions of patients and their families. Developing new therapies, such as CannQuit-O, is critical for helping control the disease and improve quality of life for those who are suffering from the disease and those around them,” commented Incannex Chief Scientific Officer, Dr Mark Bleackley.

An estimated 26.8 million people are living with OUD worldwide. The global OUD market size was valued at $2.8 billion in 2022 and is estimated to grow at a CAGR of 10.7% from 2022-2032, reaching $7.8 billion in 2032.

About Incannex Healthcare Inc.

Incannex is a clinical stage pharmaceutical development company that is developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, and pain, among other indications.

U.S. FDA approval and registration, subject to ongoing clinical success, is being pursued for each drug and therapy under development. Each indication under investigation currently has no, or limited, existing registered pharmacotherapy (drug) treatments available to the public and represent major global economic opportunities to Incannex and its shareholders.

Incannex has a strong patent filing strategy in place as it develops its products and therapies in conjunction with its medical and scientific advisory board and partners. The Company holds 19 granted patents and 30 pending patent applications. Incannex is listed on the NASDAQ as IXHL.

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Incannex Completes IND Meeting for Development of CBD CannQuit-O for Opioid Use Disorder

Catie Corcoran

Biotech Editor