Diligence memo · auto-generated · as of July 3, 2026
Incannex Healthcare Inc.
Incannex Healthcare Inc. looks over-valued against its niche peers and is active on financing cadence.
Businessfiled
Incannex Healthcare Inc. operates in Pharmaceuticals, based in NORWEST NSW.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Incannex Healthcare Inc. has raised $12M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $12M on 2025-03-10.
Most recent recorded round closed around 2025-03-10.
Valuation (modeled)modeled
Provath models Incannex Healthcare Inc. at approximately $47M (range $14M–$87M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 2.93× the median modeled value of Series A Pharmaceuticals companies in 2025–2027 (37 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Last raise 16 mo ago; this sector typically re-raises about every 13 months.
Raising on or ahead of the sector's normal rhythm.
Comparablesmixed
Capital scale ranks ahead of 59% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 42% of those peers.
Closest niche peers: Retension Pharmaceuticals, Inc., Eikonoklastes Therapeutics, Inc., Phoenicis Therapeutics, Inc., Pharmaceutical Resource Technology, Inc., Cristcot LLC.
Peoplefiled
8 named people on file across officers, directors and signatories.
Risks & flagsmixed
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.