IXHL - Incannex rises 9% after Australia approval to begin phase 1 trial of anti-inflammatory drug

• Incannex Healthcare ( NASDAQ: IXHL ) is trading 9.3% higher after the company said it had received approval from Australia's Bellberry Human Research Ethics Committee for a phase 1 trial testing its anti-inflammatory drug IHL-675A.
• The company's drug is a combination of cannabinoid drug comprising cannabidiol and hydroxychloroquine in a fixed dose combination.
• The drug was observed to outperform in various animal study of inflammation, including in vivo models of rheumatoid arthritis, inflammatory bowel disease and lung inflammation.
• "The aims of the trial are to demonstrate that there are no, or minimal, additional side effects associated with the combination of CBD and HCQ compared to each drug alone and that the uptake and metabolism, otherwise known as pharmacokinetics, of the two drugs do not materially interfere with one another," said Chief Scientific Officer of Incannex Healthcare, Mark Bleackley.
• Patient recruitment is anticipated to begin in August 2022.

For further details see: