Braxia Scientific

Vancouver-based Braxia Scientific (formerly Champignon Brands) develops and brings psychedelic medicine and mushroom-infused beverages to market. It also operates a network of clinics to complement its research and development (R&D) work. The company is focused on developing therapies for depression, post-traumatic stress disorder (PTSD), and substance abuse. Its key strategy is to establish a platform that integrates treatment clinics in the US and Canada to facilitate its therapeutic applications of psilocybin. 

In July 2020, Braxia Scientific acquired 75% of the Canadian Rapid Treatment Centre of Excellence (CRTCE), a ketamine clinic based in Ontario that is also the only clinic in the country approved by Health Canada to facilitate psilocybin treatments. The company currently has four clinics in operation across Mississauga, Ottawa, Toronto and the most recent one in Quebec, which was opened in May 2021, to be the first ketamine therapy clinic in the province. 

Braxia is advancing six drug candidates, all of which are at the early stages of drug development. It also has seven patents for its ketamine/psilocybin formulations and delivery. The company was listed on the Canadian Securities Exchange (CSE) in February 2020. The company changed its name from Champignon Brands to Braxia Scientific in May 2021.

The company recorded revenue of CAD 1 million (USD 800,000)  for the year ended March 2021 and recorded a net loss of CAD 88.8 million (USD 71.2 million).