InhaleRx Ltd (ASX: IRX) an Australian healthcare company focused on innovative drug-device products, has secured up to $38.5 million in funding from Clendon Biotech Capital. This funding will cover all costs associated with Phase 1 and 2 trials of IRX-211, targeting breakthrough cancer pain, and IRX-616a, designed for panic disorder relief. The partnership positions InhaleRx to accelerate its clinical development and address feedback from the U.S. FDA related to its IND application for IRX-616a.
The company will also initiate a tender process to select a Clinical Research Organization (CRO) for upcoming trials. While the funding covers trial-related expenses, InhaleRx will remain responsible for operational overheads and aims to secure additional capital for ongoing operations. The company plans to achieve FDA approval through efficient regulatory pathways, with Phase 3 readiness expected by 2027. This strategic move strengthens InhaleRx’s position in inhaled therapeutics, addressing unmet medical needs in pain management and mental health sectors.
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