- IX Biopharma has secured US$41mil funding from the US Department of Defense (DoD) to support the Phase 3 clinical development of its pain drug Wafermine. It validates iX Biopharma’s WaferiX technology platform, and allows entry into the US$5-6bn acute pain drug market in the US.
- - Read this at SGinvestors.io -
- The larger opportunity is Wafermine adoption into standard field kits and sales into the non-military commercial market following full US FDA approval.
About IX Biopharma
- Founded in 2008 and listed on SGX Catalist in 2015, IX Biopharma (SGX:42C) is a pharmaceutical company whose proprietary drug delivery technologies, WaferiX® and WaferlogiX, enable sublingual delivery of therapeutics with enhanced bioavailability and rapid absorption.
- - Read this at SGinvestors.io -
- The company out-licensed Wafermine to Nasdaq-listed Seelos in 2021, then reclaimed full rights in 2024. The US FDA has also granted orphan drug status to iX for the treatment of Complex Regional Pain Syndrome (CRPS).
Investment Merits
Endorsement and non-dilutive funding of Wafermine by the US Department of Defense.
- Read more at SGinvestors.io.
