Incannex and Mind Medicine Australia Partner to Expand Psychedelic Therapy Access

Incannex Healthcare Inc., a biopharmaceutical company focused on developing combination drug therapies, has announced a joint venture with Mind Medicine Australia (MMA) to establish a psychedelic-assisted therapies clinic in Melbourne. This collaboration marks a significant step in Incannex's strategy to provide innovative mental health treatments, particularly targeting individuals suffering from conditions such as PTSD and treatment-resistant depression.

The new entity, named Mind Medicine Australia Clinics, aims to enhance the accessibility and efficiency of psychedelic-assisted therapies. The venture will offer a comprehensive range of services, including clinical operations, governance, medicine supply, medical oversight, and marketing support. This integrated approach is designed to support a growing network of Authorised Prescribers throughout Australia, ensuring patients can access high-quality care.

Joel Latham, CEO of Incannex, emphasized the importance of this partnership in advancing their mission to provide effective mental health treatments. By aligning with MMA, Incannex intends to build the necessary infrastructure to deliver scalable and safe therapy options. This initiative not only strengthens Incannex's presence in the advancing therapeutic sector but also aligns with its commitment to generating sustainable shareholder value.

Through this joint venture, the clinic model will be optimized to significantly reduce entry costs and increase capacity, thereby improving treatment access. The clinic is expected to start patient intake soon, responding to strong early demand. The improvements aim to benefit individuals dealing with complex mental health disorders by offering transformative treatment options.

MMA, a leading not-for-profit organization in Australia, is dedicated to supporting the clinical adoption of psychedelic-assisted therapies involving substances like medicinal psilocybin and MDMA. In 2023, MMA achieved a milestone by leading the world's first regulatory rescheduling of these substances for clinical use. They are also known for providing the globally recognized Certificate in Psychedelic-Assisted Therapies (CPAT), a training program for clinicians in this field.

Peter Hunt, Chairman of MMA, expressed excitement about the collaboration with Incannex, highlighting the critical resources and clinical expertise that will be brought together to enhance the quality and reach of these treatments. The Melbourne clinic is set to become a Centre of Excellence, providing top-tier care and training for clinicians.

The collaboration between Incannex and MMA represents a strategic advancement in Incannex's commercialization model. By expanding treatment access and leveraging MMA's expertise, Incannex is positioned to offer innovative solutions in the realm of mental health treatment.

Incannex is at the forefront of developing combination medicines addressing chronic conditions such as obstructive sleep apnea, rheumatoid arthritis, and generalized anxiety disorder. Their leading clinical program, IHL-42X, combines dronabinol and acetazolamide to target mechanisms underlying obstructive sleep apnea. Additionally, Incannex is advancing IHL-675A, a combination of cannabidiol and hydroxychloroquine sulfate, for treating inflammatory conditions. The company is also developing PSX-001, a synthetic psilocybin treatment for generalized anxiety disorder.

Through strategic initiatives and partnerships like the one with MMA, Incannex is committed to addressing mental health challenges by enhancing access to novel therapeutic options. The joint venture in Melbourne is a testament to their dedication to pioneering advancements in mental health treatments and improving the lives of individuals struggling with complex conditions.