TORONTO, July 20, 2021 / PRNewswire / – Braxia Scientific Corp. (“Braxia”, or the “Company”), (CSE: BRAX) (OTC: BRAXF) (FWB: 496), a medical research company with clinics providing innovative ketamine treatments for people with depression and related disorders, is pleased to announce that it has established direct billing practices with health insurance provider Medavie Blue Cross for eligible Canadian military veterans. The above development will allow 100% coverage of oral, nasal spray and intravenous ketamine treatments, plus travel costs, provided at the Canadian Center of Excellence for Rapid Treatment (CRTCE), a subsidiary in exclusive property of Braxia.
This support from the Blue Cross will allow members of the Canadian Armed Forces and the Royal Canadian Mounted Police (RCMP), as well as their family members, to receive fully funded treatment without worrying about personal expenses.
“We are grateful for this insurance coverage, which has made it easier for Canadian veterans to access this important treatment,” said Dr. Roger mcintyre, CEO of Braxia Scientific Corp., noting that clinics have already seen an increase in bookings. “Many veterans struggle with depression, PTSD and suicidal thoughts. Unfortunately, conventional treatments are often ineffective or only partially effective in people living with these conditions, leaving many suffering with persistent symptoms and a impairment of function. “
The population of Canadian veterans is estimated at 629,300,1 while the RCMP employs nearly 30,200 people.2 Veterans Affairs Canada served more than 187,100 clients between 2019-2020.3 According to government statistics, almost 16% of full-time members of the Canadian Armed Forces experience depression at some point in their lives, while over 11% have reported symptoms of post-traumatic stress disorder (PTSD)4.
The medical and scientific director of Braxia and the medical director of CRTCE, Dr. Josh Rosenblat, commented, “While we provide ketamine treatments for this population, we also carefully collect outcome data to help refine treatment protocols and quantitatively determine the true effectiveness of ketamine and related treatments in this population. We specifically monitor symptoms of depression, anxiety, suicidal tendencies and PTSD. We have seen promising benefits for many veterans who received this new treatment at our clinic and plan to release our results in the coming months. “
Dr McIntyre added: “The presentation of depression in patients with PTSD and co-morbid trauma is often very different from that seen in the general population in that it is often more severe, chronic and not not sufficiently respond to conventional treatment approaches. In contrast, our experience at CRTCE, as well as published scientific literature, suggests that people with depression and a history of trauma and / or PTSD have a very reasonable chance of benefiting from ketamine treatment. “
“A related, but different, priority is the reduction of suicide in the general population, particularly in populations at risk, which would include, but not be limited to, members of the Canadian Armed Forces and the RCMP. Current evidence indicates that ketamine is capable of rapidly and significantly reducing suicidal tendencies in people with depression and represents an important treatment route for people with suicidal thoughts and behaviors. “
About Braxia Scientific Corp.
Braxia Scientific is a medical research company with clinics providing innovative ketamine treatments for people with depression and related disorders. Through its medical solutions, Braxia aims to reduce the disease burden of brain-related mental disorders such as major depressive disorder, among others. Braxia is primarily focused on (i) owning and operating multidisciplinary clinics, treatment of mental health disorders, and (ii) research activities related to the discovery and commercialization of new drugs and delivery methods. . Braxia is developing ketamine and psilocybin derivatives and other psychedelics from its IP development platform. Through its wholly owned subsidiary, the Canadian Center of Excellence for Rapid Treatment Inc., Braxia currently operates multidisciplinary community clinics providing rapid onset treatments for depression located in Mississauga, Toronto, Ottawa, and Montreal.
ON BEHALF OF THE BOARD
“Dr. Roger S. McIntyre“
Dr. Roger S. McIntyre
Chairman and CEO
The CSE has not reviewed and accepts no responsibility for the accuracy or relevance of this release.
Caution regarding forward-looking information
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”.
Forward-looking statements include statements about the promise of ketamine-based treatments for depression and the potential of ketamine to treat other emerging psychiatric disorders, such as bipolar depression. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to differ materially from the future results, events or developments expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, the inability of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unintended side effects, dependence on obtaining and using maintenance of regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other approvals. licenses and engage in activities that may later be deemed illegal under national or international law. Psilocybin is currently a Schedule III controlled substance under the Controlled Drugs and Substances Act, SC 1996, c. 19 (the “CDSA”) and it is a criminal offense to possess such a substance under the CDSA without a statutory limitation or exemption. Health Canada has not approved psilocybin as a drug for any indication. These factors should be carefully considered and readers are cautioned not to place undue reliance on these forward-looking statements.
Although the Company has attempted to identify material risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results differ from those anticipated, estimated or predicted. Additional information identifying the risks and uncertainties that could affect the financial results is contained in the documents filed by the Company with the Canadian securities regulators, including the amended and restated registration statement dated April 15, 2021, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements.
SOURCE Braxia Scientific Corp.