Psychedelics could soon revolutionize the $2.5 trillion mental health market. In fact, according to co-CEO of the ATMA Journey Centers, David Harder, a quoted in a company press release,
“The surge in demand for alternative options to traditional mental health support have fueled interest and curiosity in the burgeoning field of psychedelic-assisted therapy. Mounting evidence suggests that when used in conjunction with therapeutic and medical protocols, psychedelics have the potential to bring relief to those whose conditions have been resistant to traditional approaches.” That’s opening doors for companies such as NeonMind Biosciences (CSE: NEON) (OTC: NMDBF), Cybin Inc. (NEO: CYBN) (OTC: CLXPF), Field Trip Health Ltd. (TSX: FTRP) (NASDAQ: FTRP), Mind Cure Health Inc. (CSE: MCUR) (OTC: MCURF), and ATAI Life Sciences (NASDAQ: ATAI).
In addition, according to Mad in America, “In an interview published in Nature, psychopharmacologist and psychedelic researcher, David Nutt, suggests that psychedelics ‘turn off parts of the brain that relate to depression’ and ‘reset the brain’s thinking processes’ via their actions on cortical 5-HT2A receptors. Others assert they enhance brain ‘connectivity.’” With more studies pointing to positive solutions for mental health issues, it may only be a matter of time before the psychedelics boom really takes off.
Look at NeonMind Biosciences (CSE: NEON) (OTC: NMDBF) For Example
NeonMind Biosciences, an integrated drug development and wellness company focused on bringing innovative psychedelic-based treatments to people suffering from obesity and mental health disorders, announced today it is setting up to offer low dose intravenous ketamine therapy for mood and anxiety disorders (IV-Ket) as an initial treatment at its recently announced, inaugural specialty mental health clinic location in Mississauga, Ontario, pending clinic licensing.
NeonMind’s Mississauga clinic represents its initiative to establish and operate a network of NeonMind-branded specialty clinics. These clinics will deliver in demand mental health treatments to underserved areas throughout Canada. Specialty services to be offered will incorporate innovative, evidence-based interventional psychiatric treatments for a variety of mental health disorders.
Rob Tessarolo, President & CEO of NeonMind, commented, “This represents the latest step in our plan to become a specialty mental health clinics operator. We are building a clinic infrastructure that supports psychiatric treatment using innovative medicines such as ketamine, as well as other emerging therapies with strong evidence of efficacy and safety, in an effort to provide long-lasting solutions to a growing population of patients suffering from mental health. Following our recent clinic opening announcements, we are working quickly to stand these facilities up, with our Mississauga location in the fina process for equipment setup and licensing.”
NeonMind’s Site Medical Director for its Mississauga specialty clinic location, Dr. Bhayana, has low dose IV-Ket treatment for mood and anxiety disorders as part of his scope of practice and will be overseeing the clinic with three private infusion rooms and operational capabilities that can support high volumes of IV-Ket treatments. There is now strong clinical evidence that IV-Ket is an efficacious and safe treatment for mood and anxiety disorders which has led to its inclusion as a treatment option in Canadian guidelines. Additional psychedelic-based therapies have a growing body of evidence on their efficacy in treating mental health disorders and NeonMind will look to incorporate these novel therapies as they are authorized. The Mississauga clinic is expected to begin treatment services in the second half of 2022.
NeonMind’s inaugural specialty mental health clinic is located at 89 Queensway West, Suite 604, Mississauga, Ontario, L5B 2V2. For more information related to NeonMind’s specialty clinics, please email medicalinformation@neonmind.com.
Other related developments from around the markets include:
Cybin Inc., a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics™” is pleased to announce that Doug Drysdale, Cybin’s Chief Executive Officer, will present at the 2022 Virtual Growth Conference, presented by Maxim Group LLC and hosted by M-Vest, taking place March 28th – 30th from 9:00 a.m. – 5:00 p.m. ET.
Field Trip Health Ltd., a global leader in the development and delivery of psychedelic-assisted psychotherapy, announced a strategic partnership with Cerebral, the fastest growing online mental health platform. The companies are launching a partnership where Cerebral clinicians can refer qualified clients to Field Trip Health’s ketamine assisted therapy, while Field Trip will connect potential clients seeking general psychiatry and teletherapy services to Cerebral. This end-to-end solution will provide personalized treatment solutions for those seeking to improve their mental health.
Mind Cure Health Inc. announced it has developed a number of non-racemic mixtures of ibogaine and has filed a provisional patent for these mixtures and their therapeutic use in treating a range of central nervous system disorders. These novel enantiomerically enriched mixtures of ibogaine and pharmaceutical compositions thereof are being developed with a view to treating CNS disorders more safely and effectively than current compositions and methods.
atai Impact, the philanthropic program of atai Life Sciences and the Multidisciplinary Association for Psychedelic Studies (MAPS) today announced a $500,000 donation from atai Impact to MAPS. This donation is an important demonstration of the synergy and collaboration across the leading non-profit and commercial organizations to advance psychedelic medicine and tackle the escalating mental health crisis affecting over one billion people worldwide.“We were already facing a global mental health crisis, but the pandemic has escalated this even further. To solve this crisis requires innovation, passion and collaboration,” said Florian Brand, CEO and Co-Founder, atai Life Sciences. “MAPS has been the driving force of the psychedelic renaissance over the last 35 years, promoting healing and well-being through education and research into psychedelics and their potential to revolutionize mental health for those in need. Their work has been an incredible source of inspiration and motivation to all of us at atai, and we’re pleased to work alongside them.”
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