Incannex\u2019s psychedelics focused subsidiary, Psychennex, believes that it has the best team of experts to capture the emerging opportunities in psychedelic-assisted psychotherapy.<\/p>\n
Medicinal cannabis and psychedelic therapies company, Incannex Healthcare (ASX:IHL)<\/strong><\/a>,<\/strong> has provided the market with an update on its subsidiary, Psychennex.<\/p>\n Psychennex is a psychedelic-assisted psychotherapy company that\u2019s\u00a0 pioneering the Australian psychedelics sector via its clinical research programs and service delivery through its Clarion Clinics Group.<\/p>\n The company holds all of Incannex\u2019s psychedelic assets in one place \u2013 which include PsiGAD Clinical Trials, MOVER License, as well as all future psychedelic clinical trials.<\/p>\n Psychennex is expected to open its first Clarion Clinic in Melbourne\u02bcs inner-northern suburb of Abbotsford in Q3 this year.<\/p>\n The model clinic will serve as a prototype for the company\u02bcs planned rapid roll-out of further clinics. While being a prototype, the clinic will be run at a commercial scale and is a significant business in its own right.<\/p>\n The opening is part of Incannex\u2019s strategy to become one of the first movers to take advantage of a landmark decision by the Therapeutic Goods Administration (TGA)<\/a>.<\/p>\n Earlier in February, TGA said that from July 1st this year, medicines containing the psychedelic substances psilocybin and MDMA (3,4-methylenedioxy-methamphetamine) can be prescribed by authorised psychiatrists in Australia for treating depression and PTSD.<\/p>\n That decision has made Australia the first country in the world to recognise psychedelics as medicines.<\/p>\n Looking ahead, Clarion Clinics\u00a0 plans to open multiple psychedelic-assisted\u00a0 psychotherapy clinics in Australia and overseas.<\/p>\n The plan is to serve the Australian market, which is anticipated to be more than $2 billion per annum, with the global market being closer to $60 billion.<\/p>\n The company is ramping up to open up to 10 owned clinics as quickly as possible, due to expected \u201cpent up\u201d demand for such a service amongst patients resistant to existing treatments such as anti-depressants.<\/p>\n The ultimate target is to open 80+ clinics, using a combination of franchised and licensed business models.<\/p>\n At each step, the company will decide whether owning or licensing\/franchising the clinics is the better option, based on speed to market, financial returns and management capability.<\/p>\n Incannex also seeks to open in geographies around the world where population is large and\u00a0 legislation allows.<\/p>\n The decision to open at a particular location will be dictated by the regulatory and competitive environment of target geographies.<\/p>\n Psychennex has an exclusive, perpetual, global license over ground-breaking virtual reality technology developed at the BrainPark in Monash University.<\/p>\n This technology will be used in conjunction with psychedelic-assisted psychotherapy by providing triggering stimuli in a controlled manner.<\/p>\n Psychennex is also putting together a strong team of experts, and says that there is no other team with the same academic and hands-on experience in the psychedelics field in Australia.<\/p>\n \u201cThere are very few experienced psychedelic-assisted psychotherapists in Australia, and the team we are assembling includes many of the most experienced practitioners in the country,\u201d said Sean O\u2019Carroll, Lead Psychotherapist and Trainer at Monash.<\/p>\n \u201cWe take this responsibility seriously, and are uniquely placed to support the emergence of psychedelic-assisted psychotherapy as a safe and efficacious new treatment modality.\u201d<\/p>\n A number of providers, motivated by the TGA ruling, have said they will enter the market for psychedelic- assisted psychotherapy.<\/p>\n While Incannex believes that competition will be good for the industry, the company is confident that its world class team have the edge and experience in this field.<\/p>\n This article was developed in collaboration with Incannex Healthcare, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n <\/p>\n The post Incannex\u2019s subsidiary to open multiple psychedelic clinics to capture wide open opportunity<\/a> appeared first on Stockhead<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Special Report: Incannex\u2019s psychedelics focused subsidiary, Psychennex, believes that it has the best team of experts to capture the emerging … Read More<\/p>\n","protected":false},"author":1,"featured_media":3326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wds_primary_category":0,"footnotes":""},"categories":[1,6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/posts\/3312"}],"collection":[{"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/comments?post=3312"}],"version-history":[{"count":3,"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/posts\/3312\/revisions"}],"predecessor-version":[{"id":3327,"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/posts\/3312\/revisions\/3327"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/media\/3326"}],"wp:attachment":[{"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/media?parent=3312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/categories?post=3312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.incannex.com\/wp-json\/wp\/v2\/tags?post=3312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}More psychedelic clinics planned<\/h2>\n
A strong team of experts<\/h2>\n