- Revenue from four Canadian clinics increased 80.3% to $407,075 year-over-year
- Exceeding monthly IV Ketamine infusion targets, ramping up infusions at new Montreal clinic
- Advancing three funded clinical trials through Braxia Scientific's network of clinics, including a Ketamine trial for Bipolar Depression, a Ketamine trial to rapidly reduce suicidality, and the first multiple-dose psilocybin trial to combat treatment-resistant depression
TORONTO, Aug. 30, 2021 /CNW/ - Braxia Scientific Corp. ("Braxia Scientific," or the "Company"), (CSE: BRAX) (OTC: BRAXF) (FWB: 496), a medical research company with clinics providing innovative ketamine treatments for persons with depression and related disorders, today announced the filing of its fiscal first-quarter results for the three-month period ending June 30, 2021. Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval (SEDAR), the electronic filing system for the disclosure documents of issuers across Canada, at www.SEDAR.com.
With its leading researchers and experienced implementation team, Braxia Scientific continues to focus on its three strategic priorities: (i) expand its footprint of multidisciplinary clinics providing IV Ketamine for mental health disorders, (ii) identify new, IP-capable ketamine and psychedelic derivatives, as well as novel delivery systems, and to capitalize on new formulations by implementing them within Braxia Health's clinical settings, and (iii) train new clinicians through the Braxia Institute to administer psychedelic-assisted therapy based on the International Guidelines published by Braxia Scientific Leadership.
Through its vertically integrated model, Braxia Scientific is differentiated by way of its capability to achieve a shortened research and development timeline that, along with the track record and relationships already established by the Company's leadership, will enable partnerships with large pharmaceutical companies.
"As one of very few clinics offering IV Ketamine therapy in Canada since 2018, and the first private IV Ketamine clinic in Quebec, we have set the standard in care through our protocols and team of psychiatrists and nurses. As a result, we are pleased to be accepting an increasing number of referrals for patients with depression in need of rapid-acting and effective treatments," said Dr. Roger McIntyre, CEO of Braxia Scientific.
"In addition to our clinics, we are executing on our strategy to test out innovative formulations and delivery methods. We are working to achieve key milestone objectives such as demonstrating the proof of mechanism, and that they actually affect the brain and attenuate depression – which has a one- to two-year runway.
"We are in discussions with major drug manufacturers as to how we can move the needle for ketamine and psychedelic derivatives, with a view to refining our therapeutic research priorities in developing new products that could be ultimately acquired by large pharma."
https://www.newswire.ca/news-releases/braxia-scientific-reports-first-quarter-2022-financial-results-company-achieves-80-revenue-growth-from-expanding-clinic-patient-base-886205124.html