Ibogaine's QT prolongation liability is well-documented and increasingly cited in regulatory correspondence, creating strong sponsor incentive to pivot to cleaner analogs. Oxa-noribogaine demonstrates comparable mechanistic activity (mPFC glutamatergic modulation, kappa-opioid antagonism) without the hERG channel interference responsible for cardiac risk. DemeRx or a successor sponsor has preclinical packages sufficient to file an IND. Eighteen months from April 2026 is achievable for IND submission and Phase 1 initiation if preclinical tox is complete. Confidence set at 0.62 reflecting genuine uncertainty about sponsor identity, funding, and IND timeline slippage.