Incannex Healthcare - On the road to psychotherapy clinics

Incannex has announced that it has entered into a lease for its first ‘psychedelic clinic’ in Melbourne, following the announcement of plans for commercializing its psychedelic-assisted psychotherapy business in March 2023. In collaboration with Australian psychedelic clinical experts, Incannex will set up these clinics through its subsidiary, Clarion Clinics Group, using psilocybin for treatment-resistant depression (TRD) and MDMA for post-traumatic stress disorder (PTSD). The first ‘model’ clinic is expected to open and take patients from September 2023. If sound operations are observed, Incannex intends rapidly to expand to larger clinics across Australia. While we recognize that this has the potential to provide a future stream of revenue for the company, we await further details before updating our valuation.