Incannex Healthcare Inc. (Nasdaq: IXHL) (“Incannex” or the “Company”), a clinical-stage biopharmaceutical company advancing combination drug therapies for high-impact indications, announces entering into a 50:50 joint venture with Mind Medicine Australia (“MMA”) to operate a psychedelic-assisted therapies services clinic in Melbourne.

Incannex CEO Joel Latham commented, “This joint venture is a significant milestone around our strategy to bring psychedelic-assisted therapies to those who need them most. Working alongside a leading organization in this space, we expect to build the clinical infrastructure necessary to deliver safe, effective, and scalable treatment options. Importantly, this initiative not only strengthens our presence in a high-growth therapeutic sector but also aligns with our long-term commitment to generating opportunities for sustainable long-term shareholder value.”

The new entity, Mind Medicine Australia Clinics, represents a strategic advancement in Incannex’s commercialization model. The joint venture will deliver a fully integrated suite of services including clinical operations, governance, medicine supply, medical oversight, and marketing support to a growing network of aligned Authorised Prescribers across Australia.

Mind Medicine Australia Chairman Peter Hunt commented, “This groundbreaking initiative in partnership with Incannex brings critical resources and clinical expertise that will enhance the quality, accessibility, and scale of these transformative treatments. Our new clinic will serve as a Centre of Excellence, delivering best-in-class care and clinician training.”

The updated clinic model will significantly expand treatment access by reducing the cost of entry and more than tripling capacity. These improvements are expected to benefit individuals suffering from post-traumatic stress disorder (PTSD), treatment-resistant depression, and other complex mental health conditions. Patient intake is expected to begin shortly in response to strong early demand.

MMA is Australia’s leading not-for-profit organization supporting the clinical adoption of psychedelic-assisted therapies involving medicinal psilocybin and MDMA. In 2023, MMA successfully led the world’s first regulatory rescheduling of psilocybin and MDMA for controlled clinical use in the treatment of PTSD and treatment-resistant depression. MMA is also the provider of the globally recognized Certificate in Psychedelic-Assisted Therapies (CPAT), a leading training program for clinicians in the field.