Digital therapeutics is one of the most promising developments in medical and therapeutic research.
Digital therapeutics combines biology, mathematics, computer science, and engineering into a singular platform from which treatments and therapeutics can be developed.
The Digital Therapeutics Alliance states digital therapeutics “deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a broad spectrum of physical, mental, and behavioral conditions.”
With its foundation in technology, digital therapeutics have high potential to accelerate innovation and drive increased effectiveness throughout healthcare. Experts predict the next decade will see greatest impact from the rise of digital therapeutics.
One of the most aggressive early adopters of digital therapeutics is the medicinal psychedelics sector.
The rapidly evolving psychedelics industry has seen a large influx of hundreds of millions of dollars of fresh capital in the last few months and many of these companies are taking the multi-disciplinary digital therapeutics-assisted approach to accelerate the development and deployment psychedelic-based therapies.
Psychedelics companies including Mind Medicine (NEO:MMED)(OTC:MMEDF), Field Trip Health (CSE:FTRP) (OTC:FTRPF), Cybin Inc. (NEO:CYBN) (OTC:CLXPF), and Numinus Wellness (TSXV:NUMI) (OTC:LKYSF) have laid out extensive research and development programs with digital therapeutics systems to collect and analyze the extensive information and data these programs will create.
Mind Cure Health (CSE:MCUR) (OTC:MCURF), one of the most rapidly developing psychedelics companies, recently announced a new digital therapeutics.
Mind Cure announced the release of iSTRYM, the company’s digital therapeutics tool. The company stated iSTRYM was “designed to provide close to real-time data regarding patient care, procedures and protocols, and other resources for therapists, clinicians, and patients with mental health concerns.”
This announcement lays the foundation for Mind Cure to expand into the rapidly rising digital therapeutics sector at a time when clinical researchers, technology companies, and investors are realizing digital therapeutics will be essential foundation for psychedelics biotech research companies.
There are more developments in the psychedelics sector recently and here are some of the highlights:
Mind Cure Health (CSE:MCUR) (OTC:MCURF):
Mind Cure health is a health and wellness company focused on the many aspects of the rapidly growing medicinal psychedelics sector.
The company seeks to identify and develop products that ease suffering, increase productivity, and enhance mental health through products and therapies based in the psychedelics.
Since its initial public offering (IPO) in September 2020, Mind Cure Health has been steadily advancing its business.
The company has demonstrated its aggressive growth strategy with many recent advances.
One of the most significant recent developments for Mind Cure came when it announced the scheduled opening of its first psychedelics clinic in Kelowna, BC.
The facility, called the Mind Cure Health Center, will be the company’s first physical location to offer Psychedelic Assisted Therapies and will have the capability to treat patients with ketamine and psilocybin-based therapies.
Mind Cure’s CEO stated, “We have always seen our business as caring for individual mental health and wellness on a spectrum, from those who are suffering and are in need of relief to those who are looking for enhanced clarity, focus and overall well-being.”
The facility is expected to open in May of 2021.
Mind Cure also announced it will be entering directly into clinical research of medicinal psychedelic compounds and therapies through a translational research program with a focus on psilocybin, ketamine and ibogaine.
Translational research is a multidisciplinary approach that combines laboratory research and preclinical studies to establish and create human clinical trials and studies in humans.
The goal of this type of research Mind Cure is pursuing will be to move scientific discoveries quicker and more effectively through improved development and approval processes.
Finally, Mind Cure also announced the promotion of Kelsey Ramsden to President and Chief Executive Officer (CEO).
Ramsden is successful entrepreneur who has been awarded the Canada's Top Female Entrepreneur of the Year twice.
Her promotion is another aspect of the personnel department where Mind Cure has excelled. Mind Cure has successfully attracted multiple doctors and leading psychedelics experts to become official Advisors to the company.
In the last few months, Mind Cure officially announced the additions of:
- Dr. Dan Engle, M.D. - is a specialist in psychiatry and neurology. His research and clinical background includes integrative psychiatry, neurocognitive restoration, peak performance medicine and psychedelic research.
- Dr. Jason Wallach, Ph.D. - has a Ph.D. in Pharmacology and Toxicology from University of the Sciences. He is currently an instructor in the Department of Pharmaceutical Sciences as well as the Substance Use Disorders Institute at the University of the Sciences, Philadelphia, PA.
- Hamilton Morris - a prominent chemist, filmmaker, and science journalist who has studied psychoactive plants, fungi, chemicals, and the cultures that surrounds them.
Mind Cure Health is a rapidly emerging, multi-faceted psychedelics therapies and wellness company.
Mind Medicine (NEO:MMED)(OTC:MMEDF)
Mind Medicine has emerged as a leader in the psychedelic biotech sector.
According the company, it “Discovers, develops and deploys psychedelic inspired medicines and experiential therapies to address addiction and mental illness.”
Mind Medicine is researching potential therapies using Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC for conditions of Anxiety, Addition, and Adult ADHD.
The company recently announced it had formally completed the pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA).
Also, Mind Medicine also recently announced a bought deal private placement for the company. When completed, the deal will raise C$80 million for the company at price of C$4.40 per unit which consists of one common share of Mind Medicine and one-half of a warrant exercisable at C$5.75 per share.
Numinus Wellness (TSXV:NUMI) (OTC:LKYSF):
Numinus is a company that develops and deploys psychedelic therapies.
It is the first company in Canada to receive a license to extract psilocybin from mushrooms, to complete a legal harvest of psilocybe mushrooms using this licence, and the holder of a Health Canada dealer's licence to import, export, possess, test, and distribute MDMA, psilocybin, psilocin, DMT, and mescaline.
Numinus states on its web site that it foresees, “Safe, legal access is going to become increasingly available for a range of conditions, including depression, PTSD & substance use disorders.”
The company recently announced a collaboration with the Multidisciplinary Association for Psychedelic Studies (MAPS) Public Benefit Corporation to seek approval of MDMA-assisted psychotherapy for PTSD.
MAPS is a leading advocate for medicinal use of psychedelics. Since its founding in 1986 it has sought to design and fund studies covering medical applications of psychedelic substances. It recently raised more $30 million to continue its mission.
Field Trip Health (CSE:FTRP) (OTC:FTRPF):
Field Trip Health de describes itself as “leading the medical and scientific re-emergence of psychedelics and psychedelic-enhanced therapies.”
It is developing its propriety drug candidate FT-104, a novel, synthetic psychedelic molecule that is a serotonin 5HT2A receptor agonist.
It also operates six clinical hubs for psychedelic therapies.
The company’s tagline is “Bringing the world to life through psychedelics.”
Field Trip recently announced an increased financing deal. According to the deal terms, investors will buy 3,868,000 units of the company at a price of C$4.50 per unit, for gross proceeds of more than C$17 million, which is up from the previously announced C$15 million.
Cybin Inc. (NEO:CYBN) (OTC:CLXPF):
Cybin is a life-sciences company focused on advancing psychedelic and nutraceutical-based products.
It is also directly supporting clinical studies across North America and other regions through strategic academic and institutional partnerships.
Cybin recently announced another step in its strategic growth plan with the acquisition of Adelia Therapeutics.
Adelia is a biopharmaceutical company targeting unmet mental health needs through the development of proprietary psychedelic therapeutic. It has developed novel therapeutics, delivery methods, and therapeutic regimens. Adelia also has six patent applications.
Cybin will be paying about C$20 million (approximately US$15 million) for Adelia in an all-stock transaction.
The acquisition will advance Cybin’s business growth initiatives in the medicinal psychedelics sector.
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