Incannex Healthcare Inc. (IXHL) has entered a 50:50 joint venture with Mind Medicine Australia - MMA to launch a psychedelic-assisted therapies clinic in Melbourne.
The new venture, Mind Medicine Australia Clinics, will offer integrated services including clinical operations, governance, medicine supply, and clinician training. The initiative aims to expand treatment access for conditions like PTSD and treatment-resistant depression, while reducing costs and tripling service capacity.
Incannex CEO Joel Latham stated the partnership aligns with the company's strategy to deliver scalable, effective therapies and create long-term shareholder value. MMA Chairman Peter Hunt noted the collaboration will elevate treatment quality and accessibility. MMA, a leader in psychedelic therapy advocacy, played a key role in the 2023 regulatory rescheduling of psilocybin and MDMA for controlled clinical use in Australia.
Tuesday, IXHL ended the regular session at $0.2196, gaining 5.53%, before dipping 1.68% in after-hours trading to settle at $0.2159 on the NasdaqGM.
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