Braxia Scientific receives Canadian government funding for first-of-its-kind study on ketamine treatment for bipolar depression

Braxia Scientific Corp (CSE:BRAX) (OTCMKTS:BRAXF) (FRA:496) is set to start the largest registered trial of ketamine treatment for depression with funding from the Canadian government. The psychedelic medicine company announced it was awarded funding from the Canadian Institute of Health Research (CIHR), part of the Government of Canada, to support the clinical trial for bipolar depression. The fully-funded, multi-site clinical trial is the largest registered study of its kind in the world, Braxia said. READ: Braxia Scientific team-led guidelines into clinical uses of ketamine and esketamine published in prestigious American Journal of Psychiatry Braxia’s study will look at the use, safety and efficacy of repeated doses of intravenous ketamine in patients who suffer from bipolar depression. The study includes 100 participants across two sites: Toronto’s University Health Network and Braxia’s Canadian Rapid Treatment Center in Toronto. The company told investors that the government’s support will allow research teams – led by Braxia’s Chief Medical and Science Officer Joshua Rosenblat – to advance studies to support the pathway to getting ketamine approved as an alternative treatment for bipolar disorder. Currently, there are only two Health Canada-approved treatments for the condition, which affects nearly 3% of the total Canadian population. Nearly two-thirds of patients that receive conventional treatment for bipolar depression do not fully recover, according to Braxia. "As the global COVID-19 pandemic has impacted our communities and our lives, mental health challenges have increased during this time for those with bipolar depression, especially those at high risk of suicide. We are grateful to the Canadian Government for its support of researchers and research conducted at Braxia," Roger McIntyre, CEO, Braxia Scientific said in a statement. "It is anticipated that the results of this rigorous study will replicate and extend separate data published in peer-reviewed journals about ketamine treatment at Braxia, suggesting that ketamine is a safe and effective treatment for persons with bipolar depression." Braxia develops ketamine and psilocybin derivatives and other psychedelic products from its IP development platform. Braxia Scientific, through its wholly owned subsidiary, the Canadian Rapid Treatment Center of Excellence, currently operates multidisciplinary community-based clinics offering rapid-onset treatments for depression located in Mississauga, Toronto, Ottawa, and Montreal. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas