A Mental Health Revolution Has Begun

Novamind is building the infrastructure required for a regulated psychedelics industry

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Novamind Inc. Profile

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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
  • Approximately CAN$1,900,000 in 2019 revenue
  • Strong insider ownership (32.3%) 

Yaron Conforti, CEO of Novamind Featured On Cheddar News

 

 

Compelling Clinical Data Is Re-establishing The Use of Psychedelic Medicine

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Novamind is focused on 3 pillars:

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i. Cedar Psychiatry

Outpatient mental health clinics specialized in ketamine-assisted psychotherapy.

 

Clinic offerings:

  • Facilitated over 20,000 client visits in 2020, an increase of over 100% compared to the same period in 2019
  • Ketamine-assisted psychotherapy, over 5,000 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 2,000 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

“Spravato™ requires specialized infrastructure and processes that can be difficult for small mental health practices to implement, but Cedar Psychiatry has the scale and expertise to effectively manage the challenges of offering these novel medications to our clients,” – Dr. Reid Robison, Chief Medical Officer and Director of Novamind.

Clinic Locations (Utah, USA)

  • 4 clinics in operation: Springville, Orem, Salt Lake City and Layton
  • 1 clinic in development: Draper (anticipated by Q2 2021)

 

ii. Cedar Clinical Research

An experienced host of phase I to IV clinical trials and a recognized leader in clinical research focused on emerging treatment options in neuropsychiatry including psychedelic medicines.

  • 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
  • Led a pivotal IV ketamine study for treatment-resistant depression for Janssen, leading up to the company’s recent FDA-approval of Spravato™, the first, fast-acting drug for depression
  • Developing innovative psychedelic-assisted psychotherapy protocols
  • Research partners include:

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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

 

A Mental Health Revolution Has Begun 

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Last changed at 19-Feb-2021 09:10AM by AGORACOM