KetaMD Expands Access to Breakthrough Ketamine Therapy in Florida to Battle the Growing Mental Health Crisis and Shortage of Mental Health Care Providers
Patients Can Download the KetaMD Mobile App and Sign Up Anytime Through KetaMD.com to Access Ketamine Treatment
TORONTO, Oct. 4, 2022 /CNW/ - Braxia Scientific Corp. ("Braxia Scientific", or the "Company"), (CSE: BRAX) (OTC: BRAXF) (FWB: 4960) a medical research and telemedicine company with clinics providing innovative ketamine and psilocybin treatments for depression and related disorders, is thrilled to announce the expanded availability of treatments offered by KetaMD, Inc. ("KetaMD") in Florida. KetaMD is a wholly owned subsidiary providing access to at-home ketamine treatments for people suffering from depression and related mental health conditions through its virtual platform and mobile app recently launched and made available to residents in Florida. KetaMD offers safe, affordable, accessible, and reliable mental health treatment options. The KetaMD team is also available to support those with depression and mental health challenges that have been impacted by Hurricane Ian.
Ketamine is rapidly gaining awareness as a proven treatment for various mental health conditions such as treatment-resistant depression. KetaMD is committed to battling the growing mental health crisis and alleviating the growing shortage of mental health care providers in Florida and across America, both issues further exacerbated by the COVID-19 pandemic.
- 1 in 5 U.S. adults experience mental illness each year. In Florida, nearly 2.9 million adults have a mental health condition.
- Over 6.3 million people in Florida live in a community that does not have enough mental health professionals.
- A recent study published in the Journal of Clinical Psychiatry evaluated more than 400 patients over one year and found that 72% saw significant reductions in their symptoms of depression, anxiety, and suicidal ideation.
- According to the National Alliance on Mental Illness, nearly two in five American adults struggled with mental health issues in 2020 and only 46% received treatment.
- Floridians struggle to get the help they need. Almost 41% of Floridian adults report symptoms of anxiety and depression, while only 24.8% get the help they need.
- Of the 796,000 adults in Florida who did not receive needed mental health care in 2021, 49.7% did not because of cost.
- The ratio of population to mental health providers was 670:1 in Florida compared to 310:1 in California, 370:1 in New York and 960:1 in Texas.
- Florida ranks 49th in the nation for access to mental health care, according to Mental Health America.
Braxia Scientific Corp., through KetaMD, is dedicated to increasing widespread access to ketamine treatment for depression, anxiety, post-traumatic stress disorder, and other mental health challenges through KetaMD's safe, convenient, and HIPAA-compliant telemedicine platform with treatments guided by registered nurses. Those who are deemed eligible by one of KetaMD's licensed Florida healthcare practitioners, receive medically supervised treatments, guided virtually by registered nurses, and backed by the world's leading psychiatrists and researchers in depression.
Through evidence-based research, ketamine has been scientifically proven to produce rapid and robust antidepressant effects in those who suffer from depression, even treatment-resistant depression, making it one of the major breakthroughs in psychiatry in the last 50 years. "We've seen improved outcomes firsthand from ketamine treatment in our clinics and in our clinical trials. People suffering from major depression and mental health conditions need immediate access to safe, affordable, reliable, and readily available innovative treatments that will improve their quality of life. KetaMD is doing just that," states Dr. Roger McIntyre, CEO, Braxia Scientific.
In multiple studies, ketamine has also been shown to have rapid and persistent benefits for acute care in suicidal patients who often suffer from mental health challenges. As National Suicide Awareness month kicked off in September and Mental Illness Awareness Week kicked off October 2, KetaMD has ramped up operations, expanding session availability to provide additional support to Florida residents in need of treatment and help.
"Through KetaMD's digital telehealth capabilities, we are committed to bringing awareness, accessibility, and scalability of the benefits of ketamine for those suffering from depression and other mood disorders," said Warren Gumpel, CEO, KetaMD. "As a Miami-based company, we are pleased to roll out our services in Florida first. If we are successful in diverting just one person from choosing suicide, we know it would be mission accomplished."
Warren continued, "Our thoughts and prayers go out to the families and victims of Hurricane Ian in Florida. Our team is ready to support current and future patients of KetaMD."
KetaMD is currently available in the State of Florida, however, expansion to other key states is planned in 2022 and 2023.
Adults interested in ketamine treatment for eligible mental health conditions can download the KetaMD mobile app directly from the Apple App Store or Google Play or visit www.ketamd.com.
KetaMD is a HIPAA-compliant telemedicine platform providing affordable and potentially life-changing at-home medical ketamine treatments. Prescribed by medical professionals and guided by registered nurses via a secure platform and mobile app, KetaMD is a safe and effective alternative for the millions of adults that currently suffer from depression, anxiety, and related mental health challenges. The company's mission is to make ketamine treatment safely accessible to those who need it across the United States. Through KetaMD's program, adults who receive a qualifying diagnosis from a licensed medical prescriber may participate in the fully virtual program. For more information, visit www.ketamd.com.
Braxia Scientific is a medical research company with clinics that provide innovative ketamine treatments for persons with depression and related disorders. Through its medical solutions, Braxia aims to reduce the illness burden of brain-based mental disorders such as major depressive disorder among others. Braxia is primarily focused on (i) owning and operating multidisciplinary clinics, providing treatment for mental health disorders, and (ii) research activities related to discovering and commercializing novel drugs and delivery methods. Braxia seeks to develop ketamine and derivatives and other psychedelic products from its IP development platform. Through its wholly owned subsidiary, the Canadian Rapid Treatment Center of Excellence Inc., Braxia currently operates multidisciplinary community-based clinics offering rapid-acting treatments for depression located in Mississauga, Toronto, Ottawa, Kitchener and Montreal. For more information, visit www.braxiascientific.com or www.braxiahealth.com.
"Dr. Roger S. McIntyre"
Dr. Roger S. McIntyre
Chairman & CEO
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
This news 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 of future performance are "forward-looking statements."
Forward-looking statements include statements about the intended promise of ketamine-based treatments for depression, the potential for ketamine or other psychedelics to treat other mental health conditions, the integration plans for Braxia and KetaMD, the intention to conduct further clinical trials, the expected growth of at-home telemedicine, the expected benefit and synergies of Braxia and KetaMD and the expectation to expand to areas other than Florida. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the failure of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws. Ketamine and psilocybin are currently Schedule I and Schedule III controlled substances, respectively, under the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (the "CDSA") and it is a criminal offence to possess such substances under the CDSA without a prescription or a legal exemption. Health Canada has not approved psilocybin as a drug for any indication, however ketamine is a legally permissible medication for the treatment of certain psychological conditions. It is illegal to possess such substances in Canada without a prescription.
These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements.
Although the Company has attempted to identify important 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 actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021 and its most recent MD&A, 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.
Braxia Scientific Corp., Tel: 416-762-2138, Email: [email protected], Website: www.braxiascientific.com
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