Emyria locks in fifth psychedelic therapy clinic as national rollout hits all major states

Perth-headquartered mental health treatment company Emyria Limited (ASX: EMD) has secured a partnership with Matilda Healthcare to establish a new psychedelic-assisted therapy clinic at Matilda Nepean Private Hospital in Kingswood, western Sydney, extending its Empax clinic network to five sites across all four of Australia's most populous states.

The agreement, announced as a binding term sheet with a formal licence agreement to follow, will add four treatment beds to Emyria's national capacity, lifting the total to 18.

The clinic at Nepean marks Emyria's third independent hospital partner and its first site in NSW, giving the company a footprint that also includes Western Australia, Queensland and Victoria.

The Matilda licence carries an initial three-year term with two renewal options.

Emyria operates its Empax clinics as a hospital-integrated model, embedding psychedelic-assisted therapy - primarily MDMA-assisted treatment for post-traumatic stress disorder - within existing private hospital infrastructure under Australia's Authorised Prescriber pathway.

The company's Authorised Prescriber network doubled from six to 12 during the quarter, while its national workforce now exceeds 100 trained therapists and clinicians, including 31 Victorian therapists contracted as part of a recently completed expansion in that state.

The company confirms today that all regulatory, clinical and operational workstreams remain on schedule, with Emyria’s Victorian Empax clinic on track to begin treatments in the second quarter of 2026, consistent with previous guidance.

The NSW expansion carries particular strategic weight given the scale of psychological injury in the state.

NSW psychological injury claims rose 64 per cent between 2019-20 and 2023-24, while NSW Police alone accumulated about $1.75 billion in psychological injury costs over the five years to June 2024, according to Emyria.

Clinical outcome data released alongside the quarterly report yesterday show about 67 per cent of PTSD patients treated through the Empax program were in remission 12 months after treatment.

“We are pleased to see strong execution across all key workstreams as we approach the launch of our first Victorian Empax clinic," says Emyria executive chair Greg Hutchinson.

"Importantly, we have made significant progress in building clinical capacity ahead of opening, positioning the clinic for an efficient ramp-up phase.

"With funded patient pathways in place and operational readiness advancing, we believe this clinic will play a key role in driving growth and expanding access to reimbursable, evidencebased mental health treatments.”

Emyria's March-quarter activities report released yesterday has revealed $1.2 million in group revenue, cash receipts of $891,000 and net operating cash outflows of $1.23 million for the period.

The company held $9.04 million in cash at quarter's end, down from $10.5 million in the prior quarter, representing an estimated 7.35 quarters of available funding at current burn rates.

Year-to-date operating cash outflows sat at $3.27 million against $2.27 million in receipts from customers.

The clinic expansion is backed by an $8 million institutional placement completed late last year.

At the time, Avive Health co-CEO Mark Sweeney, whose group operates the Empax clinics alongside Emyria, said the hospital-integrated model allowed the company to scale carefully without the capital burden of building standalone facilities.

Emyria's five clinic sites now span Perth, Brisbane, two locations in Victoria and the new Kingswood facility in western Sydney.

The formal licence agreement with Matilda Healthcare is expected to follow the binding term sheet, with the clinic timeline subject to completion of that documentation.