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PHAX001 is a novel, water-soluble intravenous anaesthetic formulation of the neuroactive steroid alphaxalone (also known as alfaxalone). Developed by researchers at Southern Health (now Monash Health) in Australia, PHAX001 was designed to overcome the solubility and safety limitations of earlier alphaxalone-based anaesthetics like Althesin, which was withdrawn from the market due to severe hypersensitivity reactions caused by its Cremophor EL vehicle. PHAX001 utilizes an aqueous formulation that avoids these surfactants. The drug acts as a positive allosteric modulator of the Gamma-aminobutyric acid type A (GABA-A) receptor, facilitating rapid induction of general anaesthesia with a short duration of action and quick cognitive recovery. Clinical trials have demonstrated that PHAX001 provides effective anaesthesia induction comparable to propofol, but with potentially superior cardiovascular stability, less airway obstruction, and an absence of pain on injection.
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