IHL - INCANNEX - HOLDERS RESEARCH, page-781

Overall really interesting interview and well worth a watch, thank you @thevinnys.
It sounds like the Pharmala CEO was impressed with Incannex, and this relationship could grow as more markets open up and Pharmala and Incannex both expand internationally to service them.

We just need to see the model clinic succeed in terms of patient uptake, services rendered, margins and scalability.

Uptake
I'm very bullish on uptake: the unmet need is very considerable, and authorised prescribers are going to have their doors beaten down by patients from day one, IMO.

Services rendered

I'm very bullish on this one too: Incannex has surrounded itself with the best Australia has to offer in the field since the inception of its psychedelic research program, and has real world therapist training experience as well as a relationship with the therapists they have already trained. Their culture is deeply entwined with academia, which will consistently result in higher standards at every stage of the design and service delivery process. The folks on their team have academic careers that they will not allow to be tarnished by sub par execution in the commercial sphere.

Margins
Although I don't have any hard data to fully understand the challenge of turning these clinics into a good earner for the company, Peter Widdows certainly has the resumé to convince he is more than qualified to steer Clarion Clinics to success. With him at the helm and the few decisions we are already privy, as well their first mover advantage and the good reputation they already have: I can only be bullish on this point.

https://www.linkedin.com/in/peter-widdows-38b7721/

Scalability
This appears a little trickier to me as I'm not sure how much variance there will be between Australian states vis-à-vis this emerging industry. If anyone has dug up some indications of how this might play out, I'd be interest in reviewing that material.
It seems reasonable to assume the team will need to adapt its approach, if not on an Australian state by Australian state basis, certainly on a country by country basis in due course when they expand into new countries. These therapies may see strong uptake in some countries and weaker uptake in others.
These sorts of questions are typical of emerging industries, and do not represent an extraordinary burden. One thing is for certain, if the BOD continues to apply its acumen and rides this wave successfully, they are right at the beginning of a massive global revolution in mental health care.

What's next?
Does anyone want to place any friendly wagers on when the psychedelic space will start to really heat up in the markets?
An obvious catalyst will be the moment in July when the down-scheduling becomes effective.
Another would be the full readout of our phase 2 psilocybin-assisted therapy treatment for Generalised Anxiety Disorder: an announcement that should be received after our model clinic has opened its doors. If the results are positive, this development would have significance for the sector as well as the company.
Another obvious catalyst would be the TGA then moving to include Generalised Anxiety Disorder as an indication psilocybin can be prescribed for.

All of these could well have come to pass by January 2024.