Braxia Scientific Corp. (CSE:BRAX) (OTC:BRAXF), a medical research company with clinics that provide innovative treatments for people suffering from major depressive disorder and related mental health conditions, has opened a new health clinic in the Kitchener-Waterloo area in Ontario, CA, which represents the fifth location the company has in that country.
As well as providing treatment for mental health disorders through Braxia-owned multidisciplinary clinics, the company is also involved in research related to the discovery and commercialization of novel drugs and delivery methods.
More specifically, Braxia seeks to develop ketamine and derivatives and other psychedelic products from its IP platform. Through its wholly-owned subsidiary, the Canadian Rapid Treatment Center of Excellence Inc., Braxia operates community-based clinics offering rapid-acting treatments like intravenous (IV) and oral ketamine, and psilocybin for treatment-resistant depression (TRD) and other mental health disorders.
Clinics are located in Mississauga, Toronto, Kitchener-Waterloo, Ottawa and Montreal. Their patient experience delivery is built around global best practices guidelines led by depression researchers Dr. McIntrye and Dr. Rosenblat in the American Journal of Psychiatry.
In response to the increased demand for these kinds of therapies resulting from the COVID-19 pandemic, the company plans to expand by establishing new clinics in Toronto and Ottawa.
In this respect, Braxia's VP of operations Kevin Kratiuk 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."
Among other studies led by the company, they are currently conducting a Phase 2 multi-dose psilocybin clinical trial for the treatment of resistant depression, which has reported positive preliminary results so far.
The ongoing trial is the first approved multi-dose psilocybin trial in Canada. Its results, together with the Health Canada special access program (SAP), are enabling psilocybin to be prescribed by physicians on a case-by-case basis to patients in need. To date, Braxia has treated patients with psilocybin through its ongoing multi-dose clinical trial and trained 20 therapists via the Braxia Institute for psilocybin-assisted therapy.