Emyria partners with 'Reach Wellness' to support PTSD patients

EMD ASX News Healthcare
03 Apr 2024 14:11 (AEDT)

Emyria Limited (ASX:EMD) Share Price | Latest News – The Market Online, a trailblazer in mental health treatment innovation, has teamed up with charity group ‘Reach Wellness’ to spearhead a pivotal study to support post-traumatic stress disorder (PTSD) sufferers.

The research aims to assess the effectiveness of Emyria’s MDMA-assisted therapy (MDMA-AT) program, alongside Reach Wellness’ support initiatives, for those battling PTSD.

The collaboration underscores Emyria’s commitment to pioneering solutions in mental health care. Since launching community-based MDMA-assisted therapy trials in October 2023, the company’s lead psychiatrist has obtained Authorised Prescriber status, allowing Emyria to offer MDMA-assisted therapy for PTSD under stringent regulatory oversight.

Under the research study agreement, Reach Wellness will launch a fundraising campaign to cover treatment and follow-up expenses for an initial group of 50 screened first responders eligible for MDMA-AT. This initiative represents a significant investment in mental health care, estimated at $1.5 million, and showcases a collective effort to explore new therapies for those who dedicate their lives to public service.

With over 1 million Australians affected by PTSD, the partnership responds to the pressing national mental health challenge, particularly among first responders and veterans. Traditional treatments may not suffice for all sufferers, emphasizing the need for innovative approaches like MDMA-AT, which has already shown promise in Phase 3 clinical trials in the USA.

“We are committed to evaluating the impact of emerging approaches like MDMA-Assisted Therapy and the team at Reach shares our vision and is committed to backing it financially, with the support of its generous donors,” Emyria CEO Dr Michael Winlo said.

As Emyria expands its clinical facilities and pool of prescribers with the support of Reach Wellness, the company said it is poised to develop scalable and commercially viable mental health solutions, offering hope for a brighter future for those impacted by PTSD.

EMD has been trading at 6.3 cents.

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