Incannex Healthcare (ASX:IHL) has completed dosing of Phase 1 trial participants to assess pharmacokinetics and safety of its anti-inflammatory drug.

The company is developing unique medicinal cannabinoid pharmaceutical products and psychedelic medicine therapies for unmet medical needs, and its IHL-675A drug has been well tolerated with no adverse effects.

Phase 2 studies for patients with rheumatoid arthritis are next, and Phase 2 studies for patients with Inflammatory Bowel Disease and lung inflammation are being planned.

Incannex?s share price is up almost 4% today at $0.30.