Join our daily newsletter At The Bell to receive exclusive market insights
- Incannex Healthcare (IHL) announces plans to launch psychedelic-assisted psychotherapy clinics in Australia and overseas
- They will be led by Australia’s leading psychedelics experts, with the first clinic expected to open in Melbourne this year
- The venture will be led by newly-appointed board members of an IHL subsidiary, Paul Liknaitzky, Suresh Sundram and Sean O’Carroll
- Incannex believes the psychedelic-assisted psychotherapy market could become a multi-billion-dollar market in the future
- IHL shares are down 7.41 per cent to 12.5 cents at 3:57 pm AEDT
Incannex Healthcare (IHL) has announced plans to launch psychedelic-assisted psychotherapy clinics in both Australia and overseas.
The clinics will be led by Australia’s leading psychedelics experts, with the first one to open in Melbourne this year.
Dr Paul Liknaitzky, Professor Suresh Sundram and Sean O’Carroll have agreed to join the board of an Incannex subsidiary, where they’ll hold key roles within the venture.
Incannex believes psychedelic-assisted psychotherapy could become a multi-billion-dollar market in the future, transforming the company’s standing from a research conductor into a service provider.
“This opportunity is something the IHL team have been working towards for some time now and presents a pivotal point in the journey of the company, turning from pure research into service delivery,” Incannex Managing Director and CEO Joel Latham said.
“The opportunity is to deliver the highest-quality care and make a real difference in people’s lives, alongside substantial and imminent revenue potential.”
The company said it’s at an advanced stage of negotiations over premises in Melbourne.
Incannex said once the operation of the model clinic is running smoothly, the company would begin “rapid expansion” within Australia and overseas.
Incannex Co-Founder, Director, Chief Strategy Officer and Chief Scientific Officer Paul Liknaitzky said it was a significant opportunity.
“Very few people in Australia have the unique expertise and experience in delivering psychedelic therapies, and it is incumbent on those who do, to set the highest standards in patient safety, quality of care, ethical conduct, and accessibility,” Dr Liknaitzky said.
The company said it was now poised to capitalise on a potential “multi-billion-dollar” opportunity.
IHL shares are down 7.41 per cent to 12.5 cents at 3:57 pm AEDT.
