Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Lithium Africa
Kalgoorlie Gold Mining
Juggernaut Exploration
Skyharbour Resources
LaFleur Minerals
Grande Portage Closes Non-Brokered Private Placement Pursuant to...
Brunswick Exploration Announces AGM Results
Harvest Gold Announces Annual General Meeting Results
Editor’s Picks: Trump to Lift Minnesota Mining Ban,...
Crypto Market Recap: Stablecoin Market Makes Headway, SharpLink...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Investing

InhaleRx Secures $38,500,000 Funding to Fully Fund Clinical Development Plans

by admin October 21, 2024
October 21, 2024
InhaleRx Secures $38,500,000 Funding to Fully Fund Clinical Development Plans

InhaleRx Ltd (ASX: IRX) (‘InhaleRx’ ‘IRX’ or ‘the Company’), an Australian healthcare company developing unique drug-device products to address unmet medical needs in pain management and mental health sectors, is pleased to announce that it has entered into a significant funding agreement with Clendon Biotech Capital Pty Ltd (‘Clendon Biotech Capital’). This strategic partnership will provide the funding to cover all direct costs associated with the Phase 1 & 2 clinical development of the Company’s key projects – IRX-211 and IRX-616a.

Highlights:

Secured Funding: InhaleRx has secured a funding facility of up to $38.5 million from Clendon Biotech Capital to fully cover the clinical trial costs, including the associated non-clinical work and trial drug manufacturing costs for the IRX-211 and IRX-616a drug development plans through to the completion of Phase 2 clinical trials.Clinical Progress: This funding will enable InhaleRx to move forward with its clinical development plans for IRX211 and IRX616a, including non-clinical data. It will also enable IRX to address the requirements of the US Food & Drug Administration (‘FDA’) relevant to its recent IRX-616a Investigational New Drug (‘IND’) application.Focus on Transformational Therapeutics: With this strategic support, InhaleRx is well positioned to accelerate the development of breakthrough inhaled therapies for patients with unmet medical needs.

The funding agreement provides InhaleRx access to up to $38.5 million in funding, which is expected to allow the Company to reach the Phase 3 pivotal stage for both IRX-211 and IRX-616a within the next 2-3 years. The facility allows for the drawdown of funding as eligible expenditure is incurred.

Further details of the Clendon Biotech facility and options included within the proposed funding structure are included in Appendices 1 and 2.

Once approved, the Clendon Biotech Capital facility will allow the Company to immediately activate the specification adjustment and batch manufacturing work required in the manufacture of the requisite trial drugs for the proposed IRX616a (Phase 1), and IRX-211 (Phase 2) trials.

This partnership ensures that InhaleRx can move forward with the next stages of its clinical trials and non- clinical work, including addressing the further requirements outlined in FDA feedback related to its recent IND submission for IRX-616a.

While it is expected that this funding arrangement will cover all necessary clinical trial costs, InhaleRx will remain responsible for covering its operational and corporate overheads as these costs are specifically outside the scope of the funding arrangement. The Company remains confident in its ability to secure the necessary additional funding to meet these working capital costs and ensure continued operational sustainability.

About Clendon Biotech Capital

Clendon Biotech Capital is a Melbourne based venture capital investor which is keenly focused on small to mid-size bio-technology companies in its target therapeutic areas – neuroscience, gastroenterology, oncology and anti-aging.

The Board of InhaleRx views the partnership with Clendon Biotech Capital as a transformative step in securing the Company’s ability to execute its clinical development strategy, which will further position it as a leader in the inhaled therapeutics sector.

IRX’s CEO, Mr. Darryl Davies, said: ‘We are very excited to have Clendon Biotech Capital as a committed funding partner. This agreement enables InhaleRx to focus on advancing our key clinical programs, including addressing the requirements outlined in FDA feedback on our recent IRX616a IND application. While this partnership provides vital support for our clinical development program, we will continue to explore opportunities to fund our broader operational needs and ensure the long-term success of the Company.’

The Drug Development Pathway for IRX-211

IRX-211 is a drug-device medication, specifically designed to target breakthrough cancer pain (‘BTcP’), a condition characterised by sudden, intense episodes of pain that occur despite otherwise controlled cancer related chronic pain.

IRX-211 delivers a precise dose of the medication designed to provide rapid onset relief, ensuring quick absorption and action when needed most.

BTcP can be particularly debilitating for cancer patients, and conventional treatments often fall short due to delayed onset of action or suboptimal dosing. IRX-211 aims to address this gap by providing fast, effective relief, leading to an improvement in the quality of life of individuals suffering with cancer-related pain. By offering a more targeted and efficient solution, IRX-211 expects to become a cornerstone in the pain management toolkit for cancer patients, enhancing their overall comfort and care.

With the Phase 1 clinical trial complete, the next stage for IRX-211 is to commence the planned Phase 2 Double-blind, Placebo-controlled, Multicenter, Cross-over Study with Titration Period to Evaluate the Efficacy and Safety of IRX211a for the Treatment of Breakthrough Cancer Pain (‘BTcP’) in opioid tolerant patients in order to assess safety and efficacy of IRX-211.

The trial has been strategically designed to mirror the registration trials used for the fentanyl products, which are the only FDA approved drugs for treating BTcP.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Acquisition of Joaquin Silver District Completes
next post
Successful Placement

You may also like

Canadian Investment Regulatory Organization Trade Resumption – SYH

December 3, 2024

Skyharbour Announces Upsized Private Placement for Gross Proceeds...

December 4, 2024

Fission Uranium Grows Athabasca Basin Portfolio by Staking...

November 4, 2024

Copper Prices Surpass US$10,000 as US Tariff Fears...

March 22, 2025

Diamond Drilling Commences at Ferke Gold Project

April 15, 2025

Adrian Day: Gold Stock Valuations at 40 Year...

March 8, 2025

Empire Metals Limited Announces Exceptional High-Purity TiO2 Product...

June 10, 2025

US Operations Update

November 28, 2024

Top 5 Canadian Mining Stocks This Week: Minsud...

February 22, 2025

Cobalt Price Forecast: Top Trends for Cobalt in...

January 22, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Lithium Africa

      June 14, 2025
    • Kalgoorlie Gold Mining

      June 14, 2025
    • Juggernaut Exploration

      June 14, 2025
    • Skyharbour Resources

      June 14, 2025
    • LaFleur Minerals

      June 14, 2025
    Promotion Image

    banner ads

    Categories

    • Business (720)
    • Economy (829)
    • Investing (2,201)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved