Incannex Announces Final Results from Phase 1 Clinical Trial Assessing Safety and Pharmacokinetics of IHL-675A

IHL-675A is a combination cannabinoid drug comprising cannabidiol (‘CBD’) and hydroxychloroquine
(‘HCQ’) in a fixed dose combination. IHL-675A was observed to outperform either CBD and HCQ in
various pre-clinical models of inflammation, including in vivo models of rheumatoid arthritis,
inflammatory bowel disease and lung inflammation. Synergistic anti-inflammatory activity of CBD and
HCQ was observed in these distinct pre-clinical studies and was evidence to support the Company’s
international patent application over the drug.

The Phase 1 trial measured the safety, tolerability, and pharmacokinetic profiles of IHL-675A compared
to the reference listed drugs, Epidiolex (CBD) and Plaquenil (HCQ). Three cohorts of 12 participants (n =
36) received either IHL-675A, CBD or HCQ and the clinical assessments were identical across the three
arms of the trial. Participants were monitored for adverse events and had blood samples collected for
pharmacokinetic analysis over a four-week period. The trial was conducted by CMAX Clinical Research
in Adelaide, South Australia and managed by Avance Clinical.