EMD also secures ethics endorsement for psilocybin use

Earlier this week our psychedelics Investment Emyria (ASX: EMD) secured “Ethics Endorsement” on ut psilocybin-assisted therapy treatment for depression.

EMD already has ‘authorised prescriber status’ for MDMA-assisted therapy to treat PTSD; this new approval will open the door to a second treatment field of depression.

About one third of all patients with depression are “treatment resistant" which means that drugs like antidepressants don’t work.

There is a massive unmet need in Australia and around the world to treat depression for those that are resistant to the drugs in the market.

EMD may be able to help.

This ethics endorsement is the first part of a two step process with the TGA being the final ethics hurdle that EMD needs to overcome.

This would give EMD’s head psychologist the same "authorised prescriber status” that allows it to treat patients for MDMA-assisted therapies.

This directly affects our third objective for EMD which is to expand mental health treatments into other drug areas:

Objective #3: Expand mental health treatments to psilocybin and ketamine therapies

We want to see EMD expand its assisted therapy programs to psilocybin and ketamine.

Milestones
🔄 Secure key approvals for psilocybin use 🔲 ➡ 🔄
🔲 Secure psilocybin supply
🔲 Begin treatment on first patient (psilocybin)
🔲 Develop ketamine assisted therapy protocol
🔲 Begin treatment on first patient (ketamine)

What’s next for EMD?

Next, we want to see EMD secure the final approvals and authorised prescriber status for psilocybin use in its clinic.

This is part of a broader scale up strategy to develop psychedelic treatments for patients with mental health issues.

A big part of this scale up strategy is for EMD to secure a “Payer Agreement” with an organisation like a health insurance company or the Department of Veteran Affairs.

A Payer Agreement will open up the opportunity for EMD to service more patients and scale up its business.