Incannex Healthcare (NASDAQ: IXHL) Appoints Dr. Luigi M. Barbato as Chief Medical Officer

Incannex Healthcare Inc. recently announced the appointment of Dr. Luigi M. Barbato as the company’s Chief Medical Officer, effective October 21, 2024. Dr. Barbato will be responsible for overseeing medical strategies and operations within the organization.

Under the terms of the newly inked employment agreement, Dr. Barbato is set to receive an annual base salary of $375,000 along with a target annual incentive of up to 20% of the base salary. Additionally, he will be entitled to participate in the long-term incentive plan, employee benefit plan, and have his business expenses reimbursed.

As part of the agreement, Dr. Barbato has been granted restricted stock units under the Company’s 2023 Equity Incentive Plan, representing a contingent right to receive up to 100,476 shares of the company’s common stock. These shares are set to vest in three equal installments over a three-year period, subject to his continued service as outlined in the Employment Agreement.

Dr. Barbato brings with him a wealth of experience, having previously served as the Global Medical Lead for various clinical-stage therapeutic programs focusing on neurological disorders at Jazz Pharmaceuticals. Prior to his tenure at Jazz, he held significant positions at AbbVie, Biogen Idec, Novartis, Stiefel Laboratories (GSK), Forest Research Institute, and Solvay Pharmaceuticals. Dr. Barbato also served as a Clinical Assistant Professor of Psychiatry and Behavioral Science at Emory University School of Medicine, and boasts a substantial portfolio of publications and presentations.

It is important to note that there are no undisclosed arrangements or transactions involving Dr. Barbato in his new role, and he has no familial ties with any director or executive officer at Incannex Healthcare.

The specifics of the Employment Agreement are available for reference in Exhibit 10.1 of the Form 8-K filing submitted to the Securities and Exchange Commission. Interested parties can access the full text of the Employment Agreement for comprehensive details regarding this appointment.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Incannex Healthcare’s 8K filing here.

Incannex Healthcare Company Profile

Incannex Healthcare Inc, a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.