Epsilon Healthcare subsidiary, THC Pharma, has withdrawn an application to wind up Cannvalate after the parties resolved a dispute over an outstanding debt.
THC Pharma had lodged the winding up application under the Corporations Act in early June.
A hearing had been planned for last Friday but did not proceed, with the matter formally dismissed.
Epsilon and Cannvalate declined to comment but confirmed the issue had been resolved and the action dropped.
Incannex Healthcare
Incannex Healthcare has appointed Fortrea as its contract research organisation for the upcoming investigational new drug (IND) phase 2/3 clinical trial into obstructive sleep apnoea (OSA).
The year-long trial will explore the safety and efficacy of its IHL-42X medication in the treatment of OSA. It will be conducted over 45 sites, including many in the US.
Incannex chief executive and managing director Joel Latham described initial studies of IHL-42X – which contain dronabinol, a synthetic form of THC – as “truly remarkable”.
“It allows for this phase 2/3 trial to be a genuine long term safety and efficacy trial,” he said. “If we again observe such remarkable drug efficacy, safely administered over the 52 weeks, Incannex is confident that our product will be marketable.”
