InhaleRx Limited has secured a significant funding agreement to advance its clinical development programs, particularly focusing on IRX-211 for breakthrough cancer pain (BTcP). The Australian biotechnology company received a $38.5 million funding commitment from Clendon Biotech Capital, which will fully cover the clinical trial costs, including manufacturing, through Phase 2 trials for both IRX-211 and IRX-616a.
Advancing IRX-211 for Breakthrough Cancer Pain
IRX-211 is designed as a drug-device combination to deliver a precise dose of medication for rapid relief from BTcP. This condition is characterized by sudden, intense episodes of pain that occur despite otherwise controlled cancer-related chronic pain. Conventional treatments often fall short due to delayed onset or suboptimal dosing. The Phase 2 trial is a 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 design mirrors registration trials used for approved fentanyl products.
Strategic Funding and Clinical Progress
The funding from Clendon Biotech Capital is expected to enable InhaleRx to reach the Phase 3 pivotal stage for both IRX-211 and IRX-616a within the next 2-3 years. 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.
"We are very excited to have Clendon Biotech Capital as a committed funding partner," said Mr. Darryl Davies, CEO of InhaleRx. "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."
About InhaleRx
InhaleRx Limited is an Australian biotechnology company specializing in developing inhaled drug-device treatments to address unmet medical needs in pain management and mental health sectors. The company focuses on obtaining U.S. FDA approval for its treatments, specifically targeting breakthrough cancer pain and panic disorder, for which it holds various patents.
