TORONTO, Nov. 2, 2021 /CNW/ - Braxia Scientific Corp. ("Braxia", or the "Company"), (CSE: BRAX) (OTC: BRAXF) (FWB: 496), a medical research company with clinics providing innovative ketamine treatments for persons with depression and related disorders, is excited to announce the completion of the training program for psilocybin-assisted clinical therapy by its first multi-disciplinary cohort of 20 qualified therapists from diverse psychiatry and psychotherapy backgrounds.
This program was implemented by the Braxia Institute, the Company's training centre focused on advancing psychiatric clinical practice and health services of ketamine and psychedelic treatment therapy. Through this program, the Company is able to develop, train, and support qualified, independent medical physicians, psychologists and psychotherapists skilled in best practices to implement safe and effective psilocybin-assisted therapy for patients with depression.
Trainees experienced and learned, through pre-readings, didactic teaching, peer teaching, group discussion and simulations, which provided important background on the use of psilocybin for treating depression and practical considerations for providing psilocybin-assisted psychotherapy. All the enrolled therapists were also required to complete a practicum component, in which medical professionals gained experience in administering psilocybin-assisted therapy for participants with depression as part of an upcoming Health Canada-approved clinical trial.
"Braxia Scientific would like to extend congratulations to this pioneering group graduating our training program," said Dr. Roger McIntyre, CEO of Braxia Scientific.
"Psilocybin-assisted therapy is a rapidly growing and evolving area of interest for medical professionals, clinicians and patients with multiple mental health conditions, including treatment-resistant depression. Combining the effects of psilocybin with the support of psychotherapy from a qualified and trusted therapist allows a patient to process the psilocybin experience with the therapist, providing the basis for a better treatment outcome."
Participants in the Braxia Institute training program came from diverse therapy backgrounds, allowing them to leverage their various areas of expertise to co-create guidelines and best practices. This co-creation is also a parallel process with the therapy itself, as (i) psilocybin-assisted therapy relies on a personal journey with minimal top-down direction from the therapist, and (ii) structured therapies, such as cognitive behavioural therapy (CBT), provide more explicit direction and transfer of skills and knowledge from the therapist to the patient.
Through this program, the therapists will be fully competent to perform psilocybin-assisted therapy in upcoming clinical trials conducted by Braxia Scientific and its subsidiaries, evaluating the safety and efficacy of psilocybin in depression. The Company anticipates that, pending regulatory approval of psilocybin, therapists would also be trained to implement psychedelics in clinical practice.
"As mental health professionals, we continually strive to deliver innovative treatment options that will result in better outcomes in persons affected by depression and related disorders," said Dr. McIntyre.
"We are encouraged to see the growing number of clinical studies focused on demonstrating that psilocybin, and potentially other psychedelics, may be safe and effective in treating people with mental health conditions, and we are focused on providing healthcare professionals with the training, competencies and practical experience to address the need for safe, legal and affordable access to high-quality psilocybin-assisted therapy as regulatory approval is sought for these innovative treatments."
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 mental 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, 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.