Incannex Secures $60M Financing To Drive Advances In Psychedelic And Cannabinoid Therapies
Incannex Healthcare Inc. (NASDAQ:IXHL), a cannabinoid and psychedelic medicine biotechnology company, announced Tuesday a significant financing agreement with Arena Investors, securing up to $60 million in funding. The deal includes $10 million in convertible notes and a $50 million equity line of credit (ELOC) with Arena Business Solutions (ABS), a related entity.
The financing will support the advancement of Incannex’s clinical trials for its proprietary, synthetic cannabinoid and psychedelic-assisted therapeutics, targeting chronic conditions.
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