Business
Braxia Scientific Provides Update on Proposed Irwin Transaction; Company Retains Strategic Clinical Assets and Ketamine and Psychedelics Clinical IP
Toronto, Ontario--(Newsfile Corp. - March 16, 2023) - Braxia Scientific Corp. (CSE: BRAX) (OTC PI...
About this update from Braxia Scientific Corp
[{"type":"text","content":"Braxia Scientific Provides Update on Proposed Irwin Transaction; Company Retains Strategic Clinical Assets and Ketamine and Psychedelics Clinical IPToronto, Ontario--(Newsfile Corp. - March 16, 2023) - Braxia Scientific Corp. (CSE: BRAX) (OTC PINK: BRAXF) (FWB: 4960) (\"Braxia\", or the \"Company\"), a medical research and telemedicine company with clinics providing innovative ketamine and psilocybin treatments for depression and related disorders, announces that Irwin Naturals Inc. (\"Irwin\") has terminated the non-binding amended and restated letter of intent (\"LOI\") for a business combination between Irwin and Braxia (the \"Proposed Transaction\"). Full details of the Proposed Transaction were contained in the Company's news release dated January 27, 2023.\"We are disappointed with the decision by Irwin and that we could not complete the transaction,\" said Dr. Roger McIntyre, CEO of Braxia. \"The Braxia team remains well positioned as global leaders in depression and ketamine research, as ranked by Expertscape, with high quality, trusted clinics and a telemedicine platform launched in the United States.\" Braxia Maintains its Strategic Clinical IP, Telemedicine and Research Infrastructure Assets and CapabilitiesBraxia and its clinical management team remain market leaders in the research and delivery of mental health novel treatments. The Company is pleased to maintain its strategic assets across three important business verticals - including its Clinical Operations in Canada, a US-based telemedicine platform and International Clinical Research Infrastructure.\"Over the last year, we have accomplished several key milestones in mental health research and development. We are moving forward with our current strategy of developing our clinical operations in Canada, currently providing Ketamine and Psilocybin treatments, while building out our strategic and highly scalable telemedicine business with KetaMD, Inc. in the US. We are also actively building our CRO business providing capabilities and research services to pharmaceutical companies looking to quickly develop or co-develop IP in novel therapeutics\", concluded Dr. McIntyre.The Company remains committed to evaluating a number of potential strategic opportunities to create shareholder value in the mental health industry which continues to evolve and consolidate.About Bra...