So far this year, Numinus Wellness Inc. (TSXV: NUMI) (OTC: LKYSF) has been one of the most active psychedelic companies. The mental health care company is working to bring innovative and evidence-based psychedelic-assisted therapies to market and we are closely following the business.
Numinus is comprised of several divisions and we are favorable on the potential synergies that can be found between them. During the last year, the company has completed several private placement financings and has strengthened its balance sheet.
Forms Strategic Partnership with Optimi
Earlier this month, Numinus announced an important milestone for its relationship with Optimi Health Corp. (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN) and reported the development of all natural psilocybin extracts. We are favorable on the diversity of the expertise of each operator and expect this to play an important role in the success of the venture.
Numinus is a mental health care company that is focused on advancing evidence-based psychedelic-assisted therapies. Optimi is known for the development of a vertically integrated functional mushroom brand that is focused on the health and wellness sector.
The companies are working at a clinical trial accelerator program at the University of Calgary and have submitted a pre-clinical trial application to Health Canada. Through cultivation, research, formulation and continuous validation studies, the companies are working to produce psilocybin extracts at Numinus’ Health Canada-licensed lab in British Columbia.
If Health Canada approves the application, Numinus plans to use the candidate mushroom clone to develop a uniform all-natural psilocybin capsule to be used in Optimi’s clinical trials. As it relates to planned clinical studies, the company will initially conduct a dosing study before expanding into trials for a variety of human health conditions.
As part of the agreement, Optimi will own 100% of the all-natural psilocybin capsule and full intellectual property (IP) rights to its use. We are favorable on the potential value that can be created through this agreement and will monitor how this aspect of the story evolves over the next year.
A Differentiated Growth Opportunity
Numinus’ subsidiary, Numinus Bioscience recently received amendments to its federal license to allow the possession, production, assembly, sale, export, and delivery for a wide variety of psychedelics including ketamine and lysergic acid diethylamide (LSD). The amendment also supports Numinus Bioscience’s role in activities that are related to mescaline, N, N-dimethyltryptamine (DMT), N-Methyl 3,4, methylenedioxyamphetamine (MDMA), psilocin and psilocybin.
During the last month, Numinus has been under pressure and has come well off its late April highs. During this time, the entire psychedelic therapy sector has been trending to the downside and we have been following the trend.
So far this year, the psychedelic therapy sector has recorded important advancements and we believe the industry is barely in the first inning of a major growth cycle. We expect biotech companies to be some of the greatest beneficiaries of the movements and will monitor how Numinus benefits from this.
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