Incannex’s Subsidiary Clarion Clinics Gains Ethics Endorsement for Psychedelic-Assisted Therapies

LOS ANGELES- Incannex Healthcare Ltd  a clinical stage pharmaceutical development company, has announced a significant advancement in the field of psychedelic-assisted therapies. Its subsidiary, Clarion Clinics, received Human Research Ethics Committee (HREC) endorsement for administering psychedelic-assisted therapies for Treatment Resistant Depression (TRD) and Post-Traumatic Stress Disorder (PTSD). This approval marks a critical step in legitimizing and expanding the use of these novel therapies in Australia.

The HREC approval, a mandatory requirement for administering psychedelic drugs in Australia, endorses Clarion Clinics’ qualifications, experience, and treatment protocols. Notably, Clarion Clinics stands as the only dedicated clinic in Australia focusing on psychedelic-assisted therapy, with plans to expand nationally and internationally as laws permit.

Clarion’s team, comprised of leading psychedelic researchers, psychologists, and psychiatrists, offers a level of expertise unparalleled in Australia. This expertise is pivotal as interest in psychedelic-assisted treatments continues to grow, reflecting a high demand for these innovative therapies.

Situated in Melbourne, a city with a population of approximately 5.2 million, Clarion’s first clinic has completed its fit-out, with clinical and administrative teams ready to commence operations. The Melbourne Clarion Clinic, located on the Yarra Riverfront in Abbottsford, boasts seven treatment rooms and a group therapy room. Designed to provide an optimal environment for psychedelic-assisted therapy, the clinic can treat around 600 people annually during regular hours, with a potential increase through extended operations.

Clarion has already seen a substantial influx of treatment inquiries, indicative of the significant need for alternative therapies in Australia. Estimates suggest that 670,000 Australians suffer from either TRD, PTSD, or both at any given time. Many of these patients do not respond adequately to conventional treatments.

Peter Widdows, IHL Director responsible for Clarion Clinics, expressed optimism about the potential impact of these treatments, noting their life-changing possibilities for hundreds of thousands in Australia and millions globally. Joel Latham, CEO and President of IXHL, emphasized Clarion’s pioneering role in Australia, positioning Incannex at the forefront of psychedelic-assisted therapies and priming it for expansion as regulations evolve.

The Australian Therapeutic Goods Administration (TGA) has recently reclassified psilocybin and MDMA from schedule 9 to schedule 8 for treating TRD and PTSD, respectively. This reclassification enables authorized psychiatrists to prescribe these drugs under the Authorised Prescriber Scheme, further legitimizing psychedelic-assisted therapy.

Incannex’s proactive approach in developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies addresses a range of medical conditions, including obstructive sleep apnoea, traumatic brain injury, lung inflammation, rheumatoid arthritis, inflammatory bowel disease, and anxiety disorders. With a strong patent filing strategy, 19 granted patents, and 30 pending applications, Incannex is strategically positioned to capitalize on these emerging therapeutic fields.

The Incannex Board of Directors has approved this announcement for release to NASDAQ, signifying the company’s commitment to transparency and progress in this innovative medical domain.