iX restructures consumer-facing business to pursue US consumer health market

The newly incorporated holding company may pursue a public listing.

iX Biopharma Ltd has announced plans to restructure its consumer-facing business into a newly incorporated holding company to further pursue the growing US consumer health market.

Under the restructuring, the businesses consist of the group’s Australian and Hong Kong subsidiaries, its compounding product portfolio of approximately 40 WaferiX-based formulations, and the proposed WaferiX direct-to-consumer (DTC) telehealth platform, currently under development, will now be under the newly incorporated holding company to be known as Ligo Pharma Pte Ltd (Ligo)

According to iX, the primary driver is market access. The US 503A/B compounding framework allows the company to commercialise approximately 40 WaferiX-based formulations immediately without waiting for FDA approval — a pathway the Board describes as the most significant near-term commercial opportunity for its technology.

iX also cited a potential regulatory opening in the US peptide market as a key consideration. US authorities removed 12 peptides from the restricted compounding list in early 2026 and have scheduled a formal advisory committee review for July 2026. The company said its technology can deliver peptides sublingually without injection, and that several in its pipeline are among those currently under active regulatory review.

On the operational side, iX said supplying the US from Australia was unviable due to tariff exposure, supply chain risks, and local regulatory constraints on active drug ingredients. The company added that establishing Ligo as a standalone entity creates a focused, independently investable business and preserves flexibility for future corporate actions, including a potential spin-off listing on SGX-ST or NASDAQ.

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