Psychedelic Therapies Soon Available In Australia Via Incannex Healthcare And Subsidiary

Biotech giant Incannex Healthcare Ltd IXHL shared a business presentation of its newly formed psychedelic-assisted therapies subsidiary company, Psychennex Pty Ltd.

Psychennex will take advantage of Australia’s new psychedelics regulations through clinical research programs and service delivery, including MDMA-assisted psychotherapy for PTSD, psilocybin-assisted psychotherapy for TRD and psilocybin-assisted psychotherapy for GAD once approved.

The new business will gather all of Incannex’s psychedelic-related assets, including IP from PsiGAD clinical trials and licensing of future psychedelic trials; product development (see the company’s agreement with Catalent on cGMP psilocybin, plus virtual reality-augmented psychedelic-assisted psychotherapy;) distribution contracts for psychedelics; and psychedelic clinic subsidiaries.

This entails a potential multiple-revenue stream, considering global licensing fees, product sales, clinic operation and ownership, psychotherapist training and franchising.

The Psychennex group structure has been designed to facilitate coordinated management as well as the potential future exit of the parent company. Incannex owns Psychennex, which owns Clarion Clinics Group Pty Ltd, which in turn owns Clarion Clinics Licensing & Franchising Pty Ltd and Clarion Model Clinic Pty Ltd.

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As previously announced, the new company will be led by an experienced set of professionals including Peter Widdows, Dr. Paul Liknaitzky, Prof. Suresh Sundram and Sean O’Carroll.

Clarion Clinics Group is 15.5% owned by its clinical leaders and 84.5% by Psychennex. It wholly owns and operates all company-owned clinics, except the model clinic and fully owns the Clarion Clinics Licensing and Franchising Pty Ltd.

The first “model” clinic will open in Melbourneʼs Abbotsford Riverfront sometime within this year’s third quarter. As a prototype, the clinic will be run at a commercial scale, with a 600-patient capacity during normal working hours and 1,000 in extended operating hours.

The company will target over 80 clinics starting in 2024. It is currently working on patient-funding options such as the Medicare mental health plan and private insurance subsidy, veterans and first responder associations funding, charitable contributions and pro-bono treatments.

Photo: Benzinga edit with photo by New Africa, GillianVann and Arif_Vector on Shutterstock.