![]() ![]() ![]() In these clinics, psychedelic drugs are administered by licensed professionals. The company currently has seven outpatient mental health clinics and will soon be expanding to 10. “We had 35,000 visits to our clinics in 2021,” said Conforti. The company also offers curated programs such as a substance use disorder program and a program designed for frontline healthcare workers. Some of the unique programs offered by Novamind at its clinics include a palliative care program using ketamine in addition to psychotherapy to address high levels of anxiety and depression in patients with serious illnesses. Novamind’s CEO, Yaron Conforti, told Streetwise Reports that the company is specialized in “treating people who are suffering with mental health issues, including treatment-resistant conditions which the standard of care in pharmacology hasn't been able to treat.” The Novamind Approach to Treatment Is Unique The clinical trial is the first commercial study of LSD in 40 years and will investigate LSD’s ability to reduce anxiety symptoms in adults. (MNMD:NASDAQ), a clinical-stage biotech company focused on psychedelic drugs, is planning a Phase IIb trial that Novamind has been selected to host. The company also operates Cedar Clinical Research, a contract research organization that conducts clinical trials for psychedelic medicines including ketamine, psilocybin, LSD, and MDMA, and performs other evidence-based research on psychedelic medicine and how it can be used to enhance mental health. under the Cedar Psychiatry and Foundations for Change brands. Novamind enables safe access to psychedelic medicine through a network of integrative, outpatient mental health clinics operating in the U.S. Drug Enforcement Agency to store and administer psilocybin for research. In 2021, Novamind was awarded two Schedule 1 Licenses from the U.S. Today marks another exciting milestone for our team as we continue to support drug developers, not-for-profits, and academic partners to accelerate psychedelic research and improve patient outcomes." How & Where Psychedelics Can HelpĪn estimated 280 million people worldwide have depression, and psilocybin is being recognized as a potential new tool to address the condition. Paul Thielking, Chief Scientific Officer at Novamind, commented, "The Psilocybin Trial is a key step in moving psilocybin through the clinical development process and closer to regulatory approval. The market value of medical psychedelics is valued at $190 million and is expected to exceed $2.4 billion by 2026.ĭr. The trial will investigate the use of psilocybin - a naturally occurring psychedelic compound - to treat major depressive disorder (MDD), a move that the company hopes will nudge the dial toward FDA approval of the drug. (NM:CSE), whose mission is to increase access to psychedelic medicine for a range of mental health conditions, recently announced the company will be conducting a significant phase II clinical trial sponsored by the Usona Institute. ![]()
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