InhaleRx beefs-up board and management to drive cannabinoid-based inhaled therapies

InhaleRx (ASX: IRX) has beefed up its board and management as it readies for clinical trials of its cannabinoid-based inhaled therapies.

The company has appointed existing executive director Darryl Davies as chief executive officer to lead its next development phase in their pursuit of acquiring New Drug Approvals (NDA’s) with the US Food and Drug Administration (FDA).

The changes are in preparation for operational execution across two clinical trial programmes investigating the role of targeted dose inhaled cannabinoids to address unmet clinical needs for patients suffering with panic disorder and complex regional pain syndrome.

Mr Davies joined InhaleRx as an executive director in July last year and has more than 17 years’ experience in psychology, harm minimisation and healthcare commercialisation.

He is the co-founder of private medicinal cannabis service provider Cannvalate Pty Ltd, which services the Australian market by providing medicinal cannabis access to patients, end-to-end distribution solutions, and runs the specialty cannabinoid and psychedelic clinical research organisation – iNGENū CRO.

As well as co-founding Cannvalate, Mr Davies coordinated Australia’s first university-partnered educational programs for the cannabis industry, and he serves as a director and advisor to many private and public biotech companies.

Mr Davies said he will be working closely with the InhaleRx board and management to drive the two cannabinoid-derived inhaled therapies across their respective clinical programmes.

“In addition, the company is exploring further opportunities to develop new inhalation drug device combination products to address unmet clinical needs,” he said.

Clinical non-executive director

Joining Mr Davies on the board is Dr John Crock who has more than 40 years’ clinical experience, including being the recipient of numerous awards.

InhaleRx describes Dr Crock as a “highly experienced” plastic surgeon, who also founded international aid organisation Aussie Health Abroad, which trains surgeons in developing nations.

The organisation also liaises with many other medical disciplines internationally – with a focus on the US and EU regions.

Dr Crock teaches at Melbourne University, has an academic appointment at Monash University and has practiced as a clinical supervisor and senior lecturer at Monash Health.

As a non-executive director of InhaleRx, Dr Crock brings with him his vast network of medical connections and will advise on the clinical trials – offering his “wealth of experience” in inhaled medicines.

Chief scientific officer appointment

As InhaleRx advances its new therapies, it has appointed Dr Rob Jenny as chief scientific officer to oversee the scientific, regulatory and tech transfer process.

He will ensure the trials are ready to begin on schedule.

Dr Jenny is a trained biochemist and has experience in research and development, commercialisation, pharma manufacturing and as a director of an ASX company.

“Dr Jenny possesses both the scientific and commercial acumen to support the development and expansion of the company assets,” InhaleRx stated.

Well-funded to advance therapies

Earlier this month, InhaleRx closed a $1.2 million share placement to sophisticated and institutional directors.

The funds from the placement will support regulatory work required with the US Food and Drug Administration, as well as drug and device development for the two cannabinoid-based inhaled therapies.

These initial therapies aim to treat complex regional pain syndrome and panic disorder and will be evaluated in the upcoming clinical trials.