Braxia Scientific Corp (CSE:BRAX) (FRA:496) (OTCQB:SHRMF) has announced that it is rebranding its growing network of psychedelic research and treatment clinics for mental health disorders to Braxia Health.
The Toronto-based company also provided an update on its blueprint to “expand” its research and clinic footprint to address “significant opportunities” in the multibillion-dollar North American mental healthcare market.
Separately, Braxia which was previously called Champignon Brands, said it has started trading under its new ticker “BRAX.”
READ: Champignon Brands to change name to Braxia Scientific Corp
"Since the founding of the initial Braxia Health clinic in 2018, we have built an innovative and disruptive healthcare business with the largest research footprint in the world for the emerging psychedelics industry," Braxia Scientific CEO Dr Roger S McIntyre said in a statement.
Dr McIntyre, who is also the president of Braxia Health, noted that in addition to providing clinical care with new treatments to patients with depression and other mental disorders, Braxia Health is an “international leader in clinical research” involving ketamine, psychedelic derivatives, and other rapid-acting treatments.
“We are focused on becoming a vertically integrated global group of mental healthcare clinics setting the standard of care through peer-reviewed industry protocols, in a market that is underserved and presents significant opportunity for growth," added Dr McIntyre.
Braxia Health is a network of multidisciplinary outpatient clinical research treatment facilities specialized in providing breakthrough rapid-acting treatments for depression, such as intravenous ketamine and intranasal esketamine, which help patients suffering from several treatment-resistant conditions such as major depressive disorder (MDD), or bipolar disorder.
To date, the company has launched four clinics in Canada and is seeking to add additional clinics in 2021 in North America and Europe.
Ketamine and esketamine deliver results
Ketamine and esketamine are the first rapid-acting antidepressants that have demonstrated the ability to significantly improve depressive symptoms within 24 hours, noted the company. “Both treatments represent the first treatments for depression that are mechanistically different from the antidepressants that have been available for the past 70 years,” it said.
In addition to being highly effective, they have been shown to offer rapid symptom relief, especially in persons who have not benefited from conventional antidepressant approaches, added Braxia. “In addition, evidence now indicates that both ketamine and esketamine are effective in persons affected by depression and suicidality."
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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