- Emyria (EMD) announces a $1.7 million acquisition of the Pax Centre, boosting its patient-centric clinical service portfolio
- EMD MD Dr Michael Winlo says the acquisition is a landmark moment for the company in its mission to expand and improve mental health care
- The partnership yields several promising IP-protected novel candidates, including a rapidly-acting MDMA-like compound to enhance treatment efficiency and a novel therapeutic for Parkinson’s disease symptoms
- The acquisition falls in line with the recent rescheduling of MDMA and psilocybin as controlled medicines by the TGA from July 1 2023
- EMD shares are up 4 per cent and trading at 13 cents at 2:31 pm AEST
Emyria (EMD) has announced a strategic acquisition of the Pax Centre, enhancing its patient-centric clinical service portfolio.
The Pax Centre is Australia’s leading multidisciplinary psychological trauma care service which serves more than 4000 clients using a comprehensive offering of conventional and emerging alternative therapies.
The Pax Centre generates more than $2.6 million in annual billings and has strong relationships with referrers and major health payers.
The acquisition is valued at $1.7 million and is to be paid through a combination of shares – 76 per cent – and cash at 24 per cent.
EMD Managing Director Dr Michael Winlo said the acquisition was a landmark moment for the company in its mission to expand and improve mental health care.
‘By integrating Pax’s multidisciplinary team into our existing clinical operations, we’re strengthening our clinical service foundations and building a unique model for the delivery of emerging mental health treatments, such as psychedelic-assisted therapies,” he said.
“The acquisition also improves our ability to collect crucial clinical data that can help engage payers as well as drive further care model improvements and novel drug development.”
The company aims to integrate Emyria’s GP-led service and Emerald Clinics to establish a global centre of excellence for the delivery and development of alternative therapies for complex mental health and neuropsychiatric conditions.
The partnership has yielded several promising IP-protected novel candidates, including a rapidly-acting MDMA-like compound to enhance treatment efficiency and a novel therapeutic for Parkinson’s disease symptoms.
Emyria and the Pax Centre are now developing care models for psilocybin-assisted therapy for treatment-resistant depression (tr-D).
The acquisition falls in line with the recent rescheduling of MDMA and psilocybin as controlled medicines by the Therapeutic Goods Administration (TGA) from July 1 2023.
EMD shares were up 4 per cent and trading at 13 cents at 2:31 pm AEST.