Braxia Scientific Launches Multiple-Dose Psilocybin Clinical Trial for Treatment-Resistant Depression

Braxia Scientific Corp. (CSE: BRAX), formerly Champignon Brands, announced today that its clinical research and development team will start a randomized clinical trial using psilocybin. The program’s respondents will include adults with treatment-resistant depression and those who have previously tried electroconvulsive therapy or intravenous ketamine to treat their disorder.

The company is banking on the broadness of this study. “Whereas most other treatment-resistant depression studies limit participation to patients that have not found relief from a maximum of five other potential remedies, our research will not have an upper limit, and will even include patients that have endured dozens of unsuccessful medical trials, including ketamine and electroconvulsive therapy,” said Dr. Joshua Rosenblat, the principal investigator of the clinical trial and the Medical Director of Braxia Scientific’s subsidiary Canadian Rapid Treatment Centre of Excellence.

The medical research firm also hopes to demonstrate through the study its capacity to conduct a randomized controlled trial using psychedelic-assisted therapy, building data infrastructure for future studies and clinical care.

The proposed multiple-dose psilocybin clinical trial, claimed to be the first of its kind in Canada, will be conducted at Braxia Health’s Canadian Rapid Treatment Centers.

Also today, Braxia Scientific commented that it will “vigorously defend” itself against the class action suit filed against the company and its former CEO, among others. The lawsuit alleges that the company misrepresented the value of its four company acquisitions in the spring of 2020 and its financial statements for the period related to the class action.

Brax Scientific last traded at $0.26 on the CSE.

Information for this briefing was found via Sedar and the companies mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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