Australia-based biopharma giant Incannex Healthcare Ltd. (NASDAQ: IXHL) has plans to commercialize its psychedelic-assisted psychotherapy business through a new subsidiary venture under the leadership of long-standing company director Peter Widdows.
Widdows explained that Incannex initially intended to use ketamine therapy with the possibility of expanding into psilocybin therapy for Generalized Anxiety Disorder (GAD) as regulations allowed; but after the Australian Therapy Goods Administration (TGA)’s announcement of the down-scheduling of MDMA for PTSD and psilocybin for TRD, the company set to expand its plans to cover these treatments. Widdows added that TGA’s decision is both “an amazing opportunity to do some good for humankind” as well as “a great business opportunity, with a market that is predicted to mature into a …