Incannex Healthcare - APIRx acquisition to bolster portfolio

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.