LOS ANGELES, May 07, 2026 (GLOBE NEWSWIRE) -- MedTech Breakthrough, an independent market intelligence organization that recognizes the most innovative companies, technologies and products in the global digital health and medical technology market, today announced that Incannex Healthcare Inc. (NASDAQ:IXHL) ("Incannex"), a clinical-stage biopharmaceutical company leading the way in developing combination medicines, has been selected as winner of the "Best New Technology Solution for Drug Development" in the 10^th annual MedTech Breakthrough Awards program. The award specifically recognizes the Company's lead drug candidate, IHL-42X, an oral fixed-dose combination therapy in development for the treatment of obstructive sleep apnea (OSA).

Incannex Healthcare leverages smart drug combinations as well as strategic partnerships to develop cannabinoid-based medicines and psychedelic-based regimens. The company has pioneered the clinical development of cannabinoid combination products and psychedelic-inspired pharmaceuticals to target underlying biological pathways associated with chronic conditions that have limited, inadequate, or no approved treatment options. Drug programs include IHL-42X for OSA and IHL-675A for inflammation. Incannex is also developing an oral, synthetic psilocybin (PSX-001) treatment for generalized anxiety disorder administered in combination with psychological support.

IHL-42X is the company's lead drug development program for OSA, a disorder characterized by repeated airway collapse during sleep. The oral fixed-dose therapy combines dronabinol and acetazolamide, two active agents with complementary mechanisms that act on ventilatory stability and upper airway muscle function. The clinical impact of IHL-42X has been demonstrated in the Phase 2 RePOSA trial, which showed statistically and clinically significant improvements across key endpoints. Reductions in apnea-hypopnea index (AHI) were observed, and patients also experienced improved oxygenation, and sleep quality, as well as reductions in daytime fatigue and improvements in alertness and quality of life.

Incannex Healthcare is working to develop additional innovative therapies for patients with rheumatoid arthritis (RA) and generalized anxiety disorder (GAD).

"IHL-42X exemplifies our approach to developing combination therapies for chronic diseases with high unmet needs. We are honored to be recognized by MedTech Breakthrough as we continue translating emerging science into regulator-ready therapeutics that improve patient outcomes," said Joel Latham, CEO of Incannex Healthcare.

Now celebrating its 10th anniversary, the MedTech Breakthrough Awards program has spent a decade recognizing the companies driving meaningful progress and improving patient care across the global health and medical technology industry. The program spans a wide range of categories – including Telehealth, Clinical Administration, Patient Engagement, Electronic Health Records (EHR), Virtual Care, Medical Devices and beyond – honoring the innovations reshaping how care is delivered worldwide.

This year's program drew a record-breaking number of nominations from leading companies and startups across more than 20 countries, reflecting the growing global impact and momentum of the digital healthcare industry.

"Incannex Healthcare's drug development model shows potential to deliver clinically meaningful benefits and put them at the forefront of patient care. For OSA patients, specifically, standard treatments rely on mechanical interventions which leaves many of them intolerant or unwilling to use these device-based therapies," said Steve Johansson, managing director, MedTech Breakthrough. "By leveraging a fixed-dose combination approach supported by robust clinical evidence, Incannex is advancing a first-in-class pharmacologic option for a condition with no approved drug therapies. The company's overall drug development model addresses the gaps left by current treatments for patients suffering from OSA and other chronic conditions."

About Incannex Healthcare Inc.

Incannex is leading the way in developing combination medicines that target the underlying biological pathways associated with chronic conditions, including obstructive sleep apnea, rheumatoid arthritis and generalized anxiety disorder. The Company is advancing three clinical-stage product candidates based on evidence-based innovation and supported by streamlined operations. Incannex's lead clinical program, IHL-42X, is an oral fixed-dose combination of dronabinol and acetazolamide designed to target underlying mechanisms and act synergistically in the treatment of obstructive sleep apnea. In a Phase 2 development program, IHL-675A is an oral fixed-dose combination of cannabidiol and hydroxychloroquine sulfate designed to act synergistically to alleviate inflammatory conditions, such as rheumatoid arthritis. Approved for Phase 2 clinical development, PSX-001 is an oral synthetic psilocybin treatment for the treatment of generalized anxiety disorder. Incannex's programs target disorders that have limited, inadequate, or no approved pharmaceutical treatment options. For additional information on Incannex, please visit our website at www.incannex.com.

About MedTech Breakthrough

Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MedTech Breakthrough Awards program is devoted to honoring excellence and innovation in medical & health technology companies, products, services and people. The MedTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough healthcare and medical companies and products in categories that include Patient Experience & Engagement, Health & Fitness, Medical Devices, Clinical Administration, Connected Healthcare, Medical Data, Healthcare Cybersecurity and more. For more information visit MedTechBreakthrough.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

Media Contact
Steve Johansson
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213.255.3658

Incannex Healthcare Recognized for Innovative Drug Development Solutions by MedTech Breakthrough