Psychedelic assisted therapies are coming to clinics in Australia.
What’s happening:
- Melbourne based Incannex Healthcare (NASDAQ: IXHL) has announced that their subsidiary Clarion Clinics has received regulatory approval to begin to administer psychedelic assisted therapies for Treatment Resistant Depression and Post Traumatic Stress Disorder
- The approval comes from the Human Research Ethics Committee and will allow Clarion to become the only dedicated psychedelic assisted therapy clinic in Australia
Why it matters:
- Psychedelic medicines such as psilocybin and MDMA have been showing enormous therapeutic potential in recent clinical trials
- Australia’s Therapeutic Goods Administration previously selectively down scheduled both psilocybin and MDMA for therapeutic purposes in order to allow patients to access psychedelic assisted therapies in a clinical setting
Going deeper:
- Psychiatrists in Australia are able to prescribe psilocybin or MDMA to patients under new regulations known as the Authorized Prescriber Scheme
- Australia is now the first country to create a regulatory pathway for patients to be prescribed psychedelic medicines and then receive treatment in a clinical setting
