Exhibit 21.1
List of Subsidiaries
| Subsidiary | Ownership | Jurisdiction | ||||
| Incannex Healthcare Pty Ltd | 100 | % | Victoria, Australia | |||
| Incannex Pty Ltd | 100 | % | Victoria, Australia | |||
| Psychennex Pty Ltd | 100 | % | Victoria, Australia | |||
| APIRx Pharmaceutical USA, LLC | 100 | % | Delaware | |||
| APIRx Pharmaceuticals Holding BV | 100 | % | IJsselstein, Netherlands | |||
| Clarion Clinics Group Pty Ltd | 100 | % | Victoria, Australia | |||
| Clarion Model Clinic Pty Ltd | 100 | % | Victoria, Australia | |||
| Psychennex Licensing and Franchising Pty Ltd | 100 | % | Victoria, Australia | |||