Novamind (NM) began a Phase II trial on psilocybin for depression, which is sponsored by the non-profit Usona Institute.
Red Light Holland (TRIP) reported quarterly financial results including $622K in revenue (up 28% over the previous quarter), a gross profit of $232 (up 48%) and $27.3M in cash.
Novamind (NM) reported quarterly financial results including a record high revenue of $2.45M (up 32% over the previous quarter) and $2.7M in cash.
TORONTO, ON / February 22, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today launched Healing Stories, a series of case studies with first-hand accounts of patient experiences with psychedelic-assisted psychotherapy at Novamind clinics (“Healing Stories”).
Healing Stories was commissioned by Novamind as part of the Company’s ongoing efforts to destigmatize mental illness and to educate the public on psychedelic medicine. While promising data from clinical research and advocacy supported by Novamind and other mission-driven organizations continues to increase awareness and public education, negative perceptions of mental health conditions are frequently cited as a barrier to seeking help.1
Yaron Conforti, CEO and Director, commented, “We know one of the most powerful ways to break down stigma is through sharing lived experiences. Whether they see their own experiences reflected or those of their loved ones, we hope that Healing Stories will resonate and empower people to reach out for help.”
The first two Healing Stories feature frontline healthcare workers who found relief through ketamine-assisted psychotherapy (KAP) when the stress of the pandemic destabilized their mental health and exacerbated pre-existing conditions. A third Healing Story features a patient with severe depression who was ready for a new solution after traditional therapy and medications were no longer effective treatment options.
Mr. Conforti continued, “The stories are in the voices of patients who are new to KAP, helping to shed light, dispel fear and educate the public and referring clinicians about this novel treatment option. We’re incredibly grateful to everyone who has shared their deeply personal story—it is creating hope for healing.”
To read Healing Stories, please visit this link.
About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Contact Information
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Samantha DeLenardo, VP, Communications
Email: media@novamind.ca
Investor Relations
Email: ir@novamind.ca
Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
1: https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2787280
nnovative treatment is a candidate to become regular service offering for healthcare workers
TORONTO, ON / February 16, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to update shareholders on a clinical pilot investigating the efficacy of group ketamine-assisted psychotherapy for frontline healthcare workers (“Frontline KAP”). With the final cohort of participants expected to begin treatment in March 2022, data analysis is currently underway and will be published following completion of the clinical pilot.
Frontline KAP represents a unique opportunity for Novamind to scale an innovative research pilot into a novel treatment program and make it accessible at all Novamind clinics. The pilot launched in July 2021, in partnership with Colorado-based Wholeness Center, to address pandemic-related stress and trauma in frontline healthcare workers. Novamind’s Chief Medical Officer, Dr. Reid Robison, and Wholeness Center’s Dr. Scott Shannon designed a six-session KAP protocol delivered in a group setting. A cohort of 40 participants are enrolled in the pilot across research sites in Utah and Colorado.
“Frontline KAP is an example of real-time, evidence-based innovation that leverages Novamind’s clinical and research expertise to bring new treatments to patient groups in need” said Yaron Conforti, CEO and Director, Novamind. “The risk of burnout in healthcare professions is strikingly high, particularly during the pandemic. We designed a protocol addressing an unmet need for healthcare workers, we’re completing the clinical pilot at our research sites, and we anticipate that Frontline KAP will be an accessible treatment available at all Novamind clinics.”
Ketamine has demonstrated efficacy for rapid relief from symptoms of depression, while the group setting provides a platform for processing trauma with peers, more effectively building community and reducing feelings of isolation compared to individual treatment. Frontline KAP involves a ratio of two therapists to four patients per cohort, greatly reducing the total number of therapist hours when compared to traditional one-on-one treatment, which increases the treatment’s affordability and enables Novamind to serve a larger patient population.
“Frontline KAP has been incredibly rewarding and meaningful for everyone involved as we’ve witnessed first-hand the healing potential of ketamine-assisted psychotherapy in a group setting that uses the power of social connection,” said Dr. Robison.
He continued, “Interim data from the pilot shows depression and anxiety scores trending down, and resilience scores going up. Many participants report having breakthroughs when assisted by the ketamine treatments, and that’s further enhanced by processing the experiences in a group setting with peers. We’re looking forward to completing the pilot and exploring the opportunity to scale access to this innovative treatment at Novamind clinics.”
To learn more about the Frontline KAP clinical pilot, please visit this link.
TORONTO, ON / February 8, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to announce that Prakash Gowd has been appointed as the Company’s Chief Operating Officer (COO), replacing Pierre Bou-Mansour who is leaving the Company this month to pursue a new opportunity.
Mr. Gowd joined Novamind in August 2020 as Senior Vice President, Corporate Development, and has led Novamind’s corporate strategy and business development initiatives focused on increasing access to psychedelic medicine. He also led the Company’s successful acquisition of Arizona-based mental health practice, Foundations for Change. Mr. Gowd has over 25 years of experience in capital markets, biopharma, and health sciences.
“Prakash has valuable experience in healthcare and finance and has proven to be an integral leader to our operating teams. We look forward to his ongoing contributions to deliver operational excellence and to drive the expansion of our network of psychiatry clinics and clinical research sites,” said Yaron Conforti, CEO and Director.
Mr. Conforti continued, “On behalf of our Board of Directors and all our stakeholders, I am very pleased to welcome Prakash into this role and wish to thank Pierre for his contributions and service to Novamind.”
Prior to joining Novamind, Mr. Gowd was President and Co-Founder at Lobo Genetics (acquired by Entheon Biomedical Corp.), a genetic testing company. He previously served in senior equity research roles with CIBC World Markets, National Bank Financial and Canaccord Capital, where he covered healthcare, biotech, medical device and specialty pharma companies, and at GlaxoSmithKline, where he held senior roles in commercial operations. He currently serves as Audit Chair and Director of FendX Technologies, and as Strategic Advisor to N-Zyme Biomedical. Mr. Gowd holds an MBA from McGill University, a BSc Pharmacy from the University of British Columbia and is a Chartered Director.
About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Contact Information
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Samantha DeLenardo, VP, Communications
Email: media@novamind.ca
Investor Relations
Email: ir@novamind.ca
Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
TORONTO, ON / February 3, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today announced it has been selected by the Ketamine Research Foundation (KRF) to host a phase II clinical trial investigating ketamine-assisted psychotherapy (KAP) for adults with life-threatening illness (the “Conscious Dying/Conscious Living Trial”).
The FDA approval of the study’s KAP protocol marks a first in the investigation of KAP for end-of-life patients and its potential to serve as a model of care for this difficult-to-treat population. The mental health toll of a terminal illness is well-documented; between 24% to 70% of patients experience depression with significant negative impacts on quality of life.1 For patients with shortened life expectancy, ketamine may reduce symptoms of depression, anxiety and existential distress, and improve quality of life. Over the course of six weeks, study participants will undergo two KAP sessions at Novamind’s Murray, Utah research site under the supervision of clinical experts.
“This study is an important addition to the clinical care and research opportunities for patients within the Psychedelic Palliative Care program that we are building at Novamind,” said Dr. Paul Thielking, Chief Scientific Officer and Principal Investigator at Novamind’s Murray research site. “I’ve worked with this population for most of my career and, unfortunately, I’ve sometimes felt limited in what I can offer my patients to ease their emotional distress. The findings will contribute to the evidence for using KAP with patients who have a life-threatening illness and offer new insights into alternative treatments.”
The Conscious Dying/Conscious Living Trial is sponsored by the KRF, a non-profit leader in ketamine research, advocacy and clinical training. Phil Wolfson, MD is the Founder and CEO of KRF and a pioneering practitioner and instructor of KAP. He is also a Principal Investigator for the Multidisciplinary Association for Psychedelic Studies (MAPS)-sponsored phase II study of MDMA-assisted psychotherapy for individuals with significant anxiety due to life-threatening illnesses.
Dr. Wolfson commented, “Ketamine is still considered a novel treatment option for psychiatric illness and can sometimes be seen as controversial. Now with FDA approval, we’re hopeful that this ground-breaking study will demonstrate KAP’s potential to relieve distress and serve as a model for practitioners of palliative care, hospice and mental health professionals engaged with those who are facing death, to assist in their attitudes and choices for their remaining time.”
To learn more about the Conscious Dying/Conscious Living Trial, please visit this link.
About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Contact Information
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Samantha DeLenardo, VP, Communications
Email: media@novamind.ca
Investor Relations
Email: ir@novamind.ca
Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
1: J Palliat Med . 2021 May;24(5):767-781. doi: 10.1089/jpm.2020.0659. Epub 2021 Mar 15.
TORONTO, ON / January 26, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to announce that it has closed its previously announced private placement to an institutional investor of its common shares (“Common Shares”) (or Common Share equivalents) and warrants to purchase Common Shares (“Warrants”) for gross proceeds to the Company of approximately CAD$5 million (the “Private Placement”). Pursuant to the Private Placement, the Company issued 4,750,000 Common Shares, 7,750,000 Common Share equivalents (consisting of pre-funded warrants exercisable into Common Shares) and Warrants to purchase up to an aggregate of 12,500,000 Common Shares, at a purchase price of CAD$0.40 per Common Share and associated Warrant. Each Warrant entitles the holder to purchase Common Shares at an exercise price of CAD$0.50 per Common Share at any time on or prior to January 26, 2027.
H.C. Wainwright & Co. acted as the exclusive placement agent for the Private Placement in the United States. H.C. Wainwright & Co. (or its designees) received (i) a cash commission of CAD$400,000 (equal to 8.0% of the gross proceeds of the Private Placement) and (ii) 1,000,000 compensation warrants (the “Agent Warrants”). The Agent Warrants are exercisable at an exercise price of CAD$0.50 per Common Share at any time on or before January 27, 2025.
The net proceeds of the Private Placement will be used by the Company for general working capital purposes. No securities were offered or sold to Canadian residents in connection with the Private Placement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to any U.S. person absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. “United States” and “U.S. person” have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act.
About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Samantha DeLenardo, VP, Communications
Email: media@novamind.ca
Investor Relations
Email: IR@novamind.ca
Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release, including statements regarding the use of proceeds from the Private Placement, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, ON / January 24, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to announce that it has entered into a securities purchase agreement with a single institutional investor for a private placement of its common shares (“Common Shares”) (or Common Share equivalents) and warrants to purchase Common Shares (“Warrants”) for gross proceeds of approximately CAD$5 million (the “Private Placement”). Pursuant to the Private Placement, the Company will issue 12,500,000 Common Shares (or Common Share equivalents) and Warrants to purchase up to an aggregate of 12,500,000 Common Shares at a purchase price of CAD$0.40 per Common Share and associated Warrant. Each Warrant will entitle the holder to purchase one Common Share at an exercise price of CAD$0.50 per Common Share for a period of five years following the issuance date.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement.
The net proceeds of the Private Placement will be used by the Company for general working capital purposes. No securities were offered or sold to Canadian residents in connection with the Private Placement. The Private Placement is expected to close on or about January 26, 2022, subject to satisfaction of customary closing conditions.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”), or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to any U.S. person absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. “United States” and “U.S. person” have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Samantha DeLenardo, VP, Communications
Email: media@novamind.ca
Investor Relations
Email: IR@novamind.ca
Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release, including statements regarding the Private Placement and the anticipated closing thereof and use of proceeds therefrom, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the failure to satisfy the conditions to closing of the Private Placement and other risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
TORONTO, ON / January 20, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, announced today that it will participate in Citi’s Psychedelic Drug Video Call Series to be held virtually on January 25, 2022.
Neena Bitritto-Garg, Vice President Research Analyst, Biotech, at Citi, will host Novamind’s Chief Executive Officer, Yaron Conforti and Chief Medical Officer, Reid Robison, MD, MBA, for a fireside chat at 10:00 AM ET.
“Novamind has an established track record as a leader in commercializing psychedelic medicine and other innovative mental health therapies through a growing network of clinics and hosting an exciting pipeline of clinical trials for major drug developers,” said Mr. Conforti. “I look forward to introducing Citi’s clients to Novamind and expanding our relationships with a global base of institutional investors.”
To register for the call, please contact your Citi representative directly.
About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Samantha DeLenardo, VP, Communications
Email: media@novamind.ca
Investor Relations
Email: IR@novamind.ca
Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
