The business side of the industry, how well is it doing? is it profitable? What does the future hold?
Irwin Naturals (IWIN), a major supplement company established in 1994, is acquiring a chain of ketamine clinics in Florida and Mexico, becoming the “world’s first household name to enter the psychedelic mental health treatment sector.” This acquisition is part of a plan to create the world’s largest chain of psychedelic clinics.
Wesana Health (WESA) may expand the indication of its psilocybin formulation after meeting with the FDA. In addition to treating anxiety related to traumatic brain injury, it could also target depression. A $3M private placement will fund phase Ib/IIa depression study next year.
Delic (DELC) received a Section 56 Exemption to research MDMA, LSD, DMT, mescaline and 2C-B and acquire 60 grams of psilocybin mushrooms from from Nectar Health Sciences.
Cybin (CYBN) found that its formulation of inhalable DMT has 41% improved bioavailability compared with regular inhaled DMT and lasts 3x longer than IV DMT, extending the therapeutic window.
Numinus Wellness (NUMI) is acquiring Novamind (NM) for C$26.2M or $0.44 per share, a 51% premium on Novamind’s 20-day average.
The combined company will run 13 wellness clinics and 4 psychedelic research sites focused on depression, anxiety, PTSD, and addiction.
Here’s some more info on the transaction:
NeonMind (NEON) announced a plan to open 10 clinics over 3 years with “very little upfront costs” by leveraging SRx Health Solutions’ and BioScript’s network of clinics.
Red Light Holland (TRIP) is purchasing 100 acres of farmland for $1.85M to expand its mushroom cultivation operations. 65,000 square feet of production facilities will be built this summer.
CATALYST Summit 2022 is bringing together leaders of the psychedelic community (including everyone’s fav mycologist, Paul Stamets) for a 3-day conference this May.
Don’t miss out on this amazing opportunity to learn about the future of psychedelic medicine and network with industry professionals.
Use code DAILYM20 to get 20% off your in-person or virtual ticket!
See the lineup and buy tickets here.
Biomind Labs (BMND) is launching a commercial clinical trial on its proprietary mescaline-based formulation. The drug targets inflammation, which the company believes is the root cause of many forms of depression.
Novamind (NM) is piloting a group therapy model for psychedelic sessions and integration sessions in groups of 4-10 people. Both drop-in sessions and multi-week programs will be offered.
