On Tuesday, the company previously known as Lifespot Health Ltd (ASX:LSH) completed the process of changing its name to InhaleRx Limited (ASX:IRX).
The change was made due to the company’s Board and Management determining its existing name no longer reflected the firm’s goals, aspirations and direction.
Previously, the firm had a clinical focus on screening technology for skin cancer. These days, Lifespot (InhaleRx) is in the business of developing inhaled medicine delivery systems. That explains the new name – a combination of inhale (which needs no explanation) and Rx; being the medical abbreviation for prescription.
InhaleRx’s flagship product is the Medihale Inhaler, which utilises heat to release cannabinoids from a liquid. As burning of plant material is not involved, this avoids the production of pyrolytic toxins and carcinogenics that can be created. So, basically, it’s a vaporiser and many Australians who have switched from smoking tobacco to “vaping” liquids would be familiar with such devices.
The device uses “pods” filled with liquids containing the cannabinoid CBD (cannabidiol). While the inhaler does not require a prescription under TGO110 guidelines, the pods are only available in Australia via prescription from one of the company’s prescribing partners.
“Compared to the more traditional oral administration pathway, inhaled medications avoid 1st pass metabolism, resulting in high bioavailability, which in turn can result in reduced dosage requirements for the patient and a more cost effective delivery system,” states the InhaleRx web site.
The company also has its sights set on overseas markets, and has held initial discussions with the USA’s Food and Drug Administration (FDA). InhaleRx reportedly believes the FDA route will be faster to register the inhaler as a medical device than it will achieve with Australia’s Therapeutics Goods Administration (TGA).
No doubt the USA market being far larger and generally more cannabis-friendly than Australia at this point is attractive too.
InhaleRx’s CEO is Matthew Golden, a commercial healthcare Professional with 20 years’ experience in the pharmaceutical industry under his belt. A newcomer to the team is Dr. Andrew Saich, a UK trained physician with a degree in physiology and a degree in medicine from the University of London.
Visitors to the Lifespot web site are now being redirected to the new InhaleRx site.