InhaleRX Ltd (ASX:IRX) – a company which develops inhaled drug-device treatments for pain management and a range of mental health issues – has been granted approval for a Phase 2 trial to treat patients suffering from Breakthrough Cancer Pain (BTcP) with novel therapy IRX-211.
The approval – which was granted by the Belberry Ltd Human Research Ethics Committee (HREC) – represents an important milestone in development of this therapy to meet the needs of cancer patients, by allowing for effective and fast pain relief without the use of opioids.
IRX is particularly concerned with providing a safer alternative to current treatments, which often use opioids, especially fentanyl. This is crucial to meet the needs of patients suffering from BTcP, with the Total Addressable Market currently estimated at over US$1 billion.
IRX CEO Darryl Davies said this approval marked an important stage in progressing this treatment solution.
“Securing HREC approval to initiate this Phase 2 clinical trial of IRX-211 is a significant
advancement in our mission to bring safer, effective break-through pain relief solutions to
cancer patients,” he said.
“IRX-211 has the potential to redefine how breakthrough cancer pain is managed, addressing a critical gap in the market currently for safe, fast-acting, non-opioid
treatments.
“We are committed to delivering a therapeutic solution that provides reliable relief
to cancer patients without the severe side effects and dependency risks associated with current opioid-based therapies like fentanyl.
“This trial represents a major step in our journey toward realizing that vision, and we are grateful to our dedicated team for their hard work in reaching this milestone.”
IRX shares have moved up on the news, and at 11:06 AEDT, they were trading at 3.5 cents – a rise of 16.67% since the market opened.
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