Emyria gets a new Non-Executive Chair…
Today, our psychedelic treatment and care delivery Investment, Emyria (ASX: EMD), announced to the market the appointment of Mr Greg Hutchinson, as the new Non-Executive Chair of EMD.
For context, EMD is focused on developing, trialling and commercialising new psychedelic treatments - and then delivering these treatments via clinics, including the recently acquired Pax Centre.
Last time we wrote about EMD, they had just received endorsement from the NHMRC ethics committee, allowing them to advance their Authorised Prescriber (AP) applications further with the Therapeutics Goods Association (TGA).
We think today’s appointment of Mr Hutchinson could prove to be a shrewd piece of recruitment from EMD, as the company moves into a phase where operational nous will be increasingly important to the success of the business.
More on today’s appointment…
Mr. Hutchinson is no stranger to the Australian medical and therapeutics market with EMD describing his skillset as particularly suited to “rapidly scaling clinical services delivery”.
Mr. Hutchinson has been instrumental to the growth of Sonic HealthPlus which is a subsidiary of ~$13.8B capped, Sonic Healthcare Ltd. (ASX: SHL).
During Greg’s tenure as the CEO of Sonic HealthPlus, the company became one of the largest providers of occupational and community medical services in Australia, with over 7,000 active clients across 40 different locations.
In addition to this eminent experience, Greg has also been involved in developing and commercialising innovative clinical delivery models during his time as co-founder of 5D Clinics - a Perth-based oncology business.
We think having the experience and networks of Mr Hutchinson on EMD’s board will allow the company to more rapidly roll out its clinical services across Australia, following the recent changes to the regulatory environment around psychedelic therapies.
With today’s announcement, Mr Hutchinson noted (emphasis added):
“Joining Emyria is an incredible opportunity to lead in a groundbreaking area of mental health treatment - underpinned by world-class research infrastructure and processes. With Australia's landmark decision to legalise MDMA and psilocybin for therapeutic use, we are at the forefront of a major healthcare revolution.”
We think clinical trial data will underpin EMD’s ambition to push this healthcare revolution forward.
For more information on the latest major Phase 3 data on MDMA as a treatment for PTSD, which is what EMD is hoping to emulate with its current clinical trial - read our Quick Take on the MAPS study.
What’s next for EMD?
What’s next for EMD?
MDMA-AT Phase 2b patient recruitment updates 🔄
We want to see EMD recruit all 72 patients into the trial so that we will have a timeframe on results.
Animal study results for fast-acting MDMA analogue 🔄
EMD is developing its own analogues (modified versions of the drug that work better). These tests are currently being run on animals and we want to see if EMD publishes positive results here.
Approval for ketamine assisted therapy protocol 🔄
EMD has a pending application for a ketamine assisted therapy trial.
Secure key approvals for psilocybin use 🔄
EMD has a pending application for psilocybin use in an assisted therapy trial.
Recommence Phase 3 trial of low-dose CBD for stress & anxiety 🔄
EMD is part-way through a Phase 3 trial for a low-dose CBD product targeting Schedule 3 over-the-counter use in Australia.
Secure a major payer partnership (we see this as a major catalyst) 🔄
If EMD is able to secure a payer for its treatments, we think this would be a major catalyst for the company.