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Clinical-stage biotech and mental health innovator Emyria Limited (ASX:EMD) has fired up its national expansion strategy by signing a landmark agreement with Avive Health, a growing private hospital operator, to establish its first Empax clinic in Queensland.
Under the agreement, Emyria will integrate its evidence-based Empax program for PTSD and treatment-resistant depression into Avive’s licensed private hospital in Windsor, Brisbane.
The deal marks Emyria’s third clinical site and builds on its multi-year Hospital Purchaser Provider Agreement (HPPA) with Medibank Private (ASX: MPL), reinforcing the company’s position in delivering reimbursable, psychedelic-assisted care through established medical infrastructure. That deal delivers EMD a reimbursement rate per patient of up to $30K.
To remind investors at home, the company is one of few in Australia using the same compounds in ‘magic mushrooms’ in a bid to treat mental health conditions, most recently binge eating.
“This partnership accelerates our ability to scale nationally in a capital-light way, addressing significant unmet mental health needs”, said Emyria’s Managing Director Dr Michael Winlo.
The agreement grants Emyria exclusive rights to deliver its Empax programs at the Brisbane site, with a first right of refusal for additional clinics in Victoria and South Australia. Avive will license clinical space and integrate Emyria’s care protocols into its hospital workflows, with treatments slated to commence in Q4 CY25.
The agreement spans three years, with extension options tied to performance.
“Interest from patients, clinicians, and payors is only increasing. The Avive agreement positions us to meet that demand efficiently”, explained Dr. Michael Winlo.
EMD has been trading flat at 4.1cps in early afternoon trade.
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