A growing network of psychiatry clinics, research sites and therapeutic retreats specialized in psychedelic medicine

Novamind Inc. Profile



BREAKING: Novamind Doubles in Size, Adds Four New Psychedelic Mental Health Clinics

  • Doubling its network to eight total locations
  • Capacity from the New Clinics is forecasted to increase Novamind's patient volume from:
    • 20,000 clinic visits recorded in 2020 to approximately 65,000 clinic visits anticipated in 2021
    • 225% increase
  • Construction has begun on three of the New Clinics and leased a fourth additional property
  • New Clinics represent the initial phase of Novamind's national expansion strategy
  • Replicating the successful operating track record of its current clinics in Utah, at scale, ahead of its expansion into other American states in 2021


Novamind Partners with Merck for New Treatment-Resistant Depression Trial

  • Wholly-owned subsidiary, Cedar Clinical Research selected as a key research site for a clinical trial focused on treatment-resistant depression by Merck & Co. a world-leading pharmaceutical company
  • Phase II study will assess the efficacy and safety of a new Merck drug for treatment-resistant depression (TRD), a mental health condition that affects approximately 30% of people who suffer from major depressive disorder


Why Novamind?

  • Building the infrastructure required for a regulated psychedelics industry
  • Rapidly expanding a network of outpatient mental health clinics and research sites
  • Provides ketamine-assisted psychotherapy and Spravato™ (esketamine) treatments;
    • Ketamine treatment volume grew 90% from 2019 to 2020
    • During the same period, total Spravato™ treatments rose 400%
  • Positioned to facilitate MDMA and psilocybin therapy post-FDA approval
  • Specializing in psychedelic-assisted treatment protocols
  • Building centers of excellence for future approved psychedelic treatments
  • Biopharma partnerships with Johnson & Johnson (Janssen Spravato trials) and Merck for New Treatment-Resistant Depression Trial
  • $1.84 million in fiscal third quarter revenue
  • Strong insider ownership (32.3%) 



Novamind is focused on 3 pillars




i. Cedar Psychiatry

One of America’s leading providers of psychedelic medicine

  • Providing access to innovative, evidence based mental healthcare since 2016
  • Facilitated over 20,000 clinic visits in 2020, an increase of over 100% compared to the same period in 2019
  • $1.84M in fiscal Q3 revenue, +43% quarter over quarter
  • Forecasted to increase patient volume from 20,000 clinic visits recorded in 2020 to approximately 65,000 clinic visits in 2021, +225% YoY


Treatment Options Include:


  • Ketamine-assisted therapy, the “first legal psychedelic” over 7,000 treatments administered
  • SpravatoTM, an FDA-approved nasal spray version of ketamine for treatment-resistant depression and major depressive disorder with suicidal ideation or behaviour, over 2,800 treatments administered
  • Transcranial Magnetic Stimulation therapy, a non-invasive FDA-approved treatment that uses magnetic fields to stimulate areas of the brain affiliated with depression
  • Cognitive Behavioural Therapy
  • Medication management
  • Diagnostic evaluations


Clinic Locations (Utah, USA)


  • 4 clinics in operation: Springville, Orem, Draper and Layton
  • 4 clinics coming soon: Murray, Draper, Salt Lake City, Park City (July-Sept. 2021)
  • Developing a national clinic network to administer psychedelic medicine in anticipation of the FDA approval of MDMA & psilocybin in 2023 and 2025 respectively
  • Aggressively expanding via organic growth and M&A


ii. Cedar Clinical Research


An experienced host of phase I to IV clinical trials and a recognized leader in clinical research focused on psychedelics and mental health


  • Functions as a contract research organization (CRO), facilitates clinical trials on behalf of pharmaceutical companies in addition to leading internal research studies
  • Novamind’s Chief Medical Officer, Dr. Reid Robinson is a coordinating investigator of MAPS’ clinical trial examining MDMA-assisted psychotherapy as a treatment for eating disorders
  • Dr. Robison has hosted over 200 Phase I-IV clinical trials for leading pharma clients (including Johnson and Johnson)
  • Developing innovative psychedelic therapy protocols targeting difficult-to-treat mental health conditions. Protocols in development include;
    • Emotion-Focused Ketamine-Assisted Psychotherapy (EF-KAP)
    • Group Ketamine-Assisted Psychotherapy (G-KAP)
  • Hosted a pivotal ketamine study that led to the FDA-approval of SpravatoTM (the first, fast-acting drug for depression) by Janssen Pharmaceuticals
  • Currently contracted for 8 clinical trials
    • Key research site for Merck & Co.’s phase II clinical trial of MK-1942 for treatment-resistant depression
  • Will be evaluated as a research site for Bionomics’ phase II clinical trial of BNC210 for PTSD 
    • Novamind is a strategic investor in Bionomics
    • Co-investors include: Apeiron, Biotech Value Fund, Merck, Mike Novogratz, and Peter Thiel
  • Research partners include:



iii. Retreat network


Novamind is building a network of psychedelic retreats in jurisdictions with established regulations for the use of psychedelics. It has strategic investments in the Netherlands-based Synthesis Institute and the Costa Rica-based Circadia Center

  • Synthesis was founded in 2018 and has hosted medically supervised psilocybin retreats for more than 600 participants
  • Circadia expects to host its first psychedelic retreat post COVID-19
Last changed at 02-Jun-2021 01:43PM by AGORACOM