TORONTO, June 15, 2022 /CNW/ - Braxia Scientific Corp. ("Braxia", or the "Company"), (CSE: BRAX) (OTC: BRAXF) (FWB: 4960), a medical research company with clinics providing and advancing innovative ketamine and other innovative treatments for people living with depression and related mental health disorders, is pleased to announce today the opening of its newest Braxia Health clinic in the Kitchener-Waterloo area in Ontario. The Kitchen-waterloo location is the fifth Braxia Health Clinic in Canada.
Braxia's group of clinics, led by top researchers in depression Dr. Roger McIntyre and Dr. Joshua Rosenblat – as determined by Expertscape – and now Braxia Health Kitchener-Waterloo, provide patients greater access to Braxia's network of physicians, specialists and researchers delivering innovative, rapid acting treatments like intravenous (IV) and oral ketamine, and psilocybin for treatment resistant depression (TRD) and other mental health disorders. Braxia Health clinics are also delivering world-class patient experience built around global best practices guidelines led by Dr. McIntrye and Dr. Rosenblat in the American Journal of Psychiatry.
"Today's announcement is the first of what we intend to be a series of growth developments and acquisitions to our clinical network," said Braxia CEO Dr. Roger McIntyre. "Further plans are in place for the expansion of Braxia Health clinics in Toronto and Ottawa, Ont., to better serve the growing unmet need in our Canadian communities.
With Braxia's ongoing Phase 2 multi-dose psilocybin trial in treatment resistant depression reporting positive preliminary results, and in response to demand amidst the evolving health-care dynamic resulting from the COVID-19 pandemic, leading to an increase in annual referrals, the Company will also be adding capacity at its new flagship centre in Toronto and its clinic in Ottawa.
Kevin Kratiuk, Braxia's Vice-President of Operations, added, "While Braxia has been managing the patient volumes to date and ensuring care is delivered in a timely manner, an infrastructure expansion was needed to better support our communities and address the unmet burden of treatment-resistant depression. With our new clinic and future expansion plans for our existing clinics, we will also offer more convenient access to treatment for new and existing patients."
Additionally, Braxia Health clinics have begun to expand current offerings across its centers to include IV and oral ketamine. Braxia specialists have delivered psilocybin treatments to patients through its ongoing multi-dose clinical trial – first-ever Health Canada approved multi-dose psilocybin trial – and, in conjunction with Health Canada special access program (SAP) allowing psilocybin to be prescribed by physicians on a case-by-case basis to patients in need. Braxia was successful in receiving its first psilocybin SAP approval for a patient in Ontario in June 2022 and has now received several additional SAP approvals. To date, Braxia has treated multiple patients with psilocybin through its ongoing multi-dose clinical trial and training of 20 therapists via the Braxia Institute for psilocybin assisted therapy.
Canadians interested in applying to the SAP, to participate in clinical trials or to qualify for other treatments, such as IV and oral Ketamine for the treatment of depression, may contact the medical team at Braxia Health at www.braxiahealth.com.
About Braxia Scientific Corp.
Braxia Scientific is a medical research company with clinics that provide innovative ketamine treatments for persons with depression and related disorders. Through its medical solutions, Braxia aims to reduce the illness burden of brain-based disorders, such as major depressive disorder among others. Braxia is primarily focused on (i) owning and operating multidisciplinary clinics, providing treatment for mental health disorders, and (ii) research activities related to discovering and commercializing novel drugs and delivery methods. Braxia seeks to develop ketamine and derivatives and other psychedelic products from its IP development platform. Through its wholly owned subsidiary, the Canadian Rapid Treatment Center of Excellence Inc., Braxia currently operates multidisciplinary community-based clinics offering rapid-acting treatments for depression located in Mississauga, Toronto, Kitchener-Waterloo, Ottawa, and Montreal.
ON BEHALF OF THE BOARD
"Dr. Roger S. McIntyre"
Dr. Roger S. McIntyre
Chairman & CEO
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Forward-looking Information Cautionary Statement
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are "forward-looking statements."
Forward-looking statements include statements about the intended promise of ketamine-based treatments for depression and the potential for ketamine to treat other emerging psychiatric disorders, such as Bipolar Depression. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the failure of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws. Ketamine and psilocybin are currently Schedule I and Schedule III controlled substances, respectively, under the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (the "CDSA") and it is a criminal offence to possess such substances under the CDSA without a prescription or a legal exemption. Health Canada has not approved psilocybin as a drug for any indication, however ketamine is a legally permissible medication for the treatment of certain psychological conditions. It is illegal to possess such substances in Canada without a prescription.
These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements.
Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements.