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Psychedelic Drug Development Companies Are Leveraging Bolt On MedTech Acquisitions To Create A More Robust Patient Care Platform

Aug 3, 2021 • 7:24 AM EDT
4 MIN READ  •  By Michael Berger
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One of the hottest themes of 2021 has been the psychedelic therapy market and this is an industry that is barely in the first inning of a multi-decade growth cycle. 

So far this year, several industry leading psychedelic therapy companies have reported major milestones and we are bullish on how the industry is advancing. From companies raising $100+ million in initial public offerings (IPO) to reporting positive clinical trial data, we believe the industry is reaching an inflection point and our readers should be aware of this trend. 

An interesting theme to appear in the psychedelic therapy sector is related to how companies leverage medical technology to differentiate themselves from other operators in the sector. By focusing on creating an intellectual property (IP) portfolio, there are a select number of psychedelic therapy companies that are well positioned for long-term growth. 

Today, we want to highlight three psychedelic therapy companies that are leveraging medical technology to advance operations and believe that these are opportunities to be keeping an eye on.

Cybin is a Psychedelic Therapy Leader in the Making 

Earlier this year, Cybin Inc. (NEO:CYBN) reported a major milestone and entered into an agreement with neurotech pioneer Kernel to leverage its innovative technology for its upcoming sponsored clinical work. 

Through Kernel’s technology, Cybin will be able to quantify brain activity in real time during psychedelic experiences. The absence of this data has been a limitation in the progression of new molecules that are focused on targeting neurological disorders and we are favorable on this aspect of the Cybin story.

Kernel’s technology is unique and creates new opportunities for psychedelic therapeutics by acquiring longitudinal brain activity before, during and after a psychedelic experience. By conducting these actions, the technology allows for the quantification of what was previously subjective self-reporting.

We believe this relationship further differentiates Cybin from other psychedelic therapy companies and will monitor how the story advances from here. Kernel’s technology is unique among brain scanning technologies and is the first commercially scalable time-domain functional near-infrared spectroscopy system.

Over the long-term, Cybin plans to use the technology to build upon its expanded development pipeline that was part of the acquisition of Adelia Therapeutics. We believe that Cybin has significant near and long-term growth catalysts and is an opportunity that we will continue to closely follow. 

Mydecine Acquires Valuable IP and Technology to Advance the Operation

Last year, Mydecine Innovations Group Inc. (CNSX: MYCO) (OTCMKTS: MYCOF) (FSE: 0NF) signed a definitive share exchange agreement with Mindleap Health to acquire its psychedelic focused digital telehealth platform. 

Mindleap is focused on making a difference in people’s lives by improving access to mental health services and by providing more personalized and effective treatments by utilizing the latest advancements in technology. We are favorable on the IP and the human capital that is associated with the transaction and consider the sum of the parts to be more valuable that each company as a standalone business. 

When you combine the assets that are owned by Mydecine with Mindleap’s innovative technology, it creates a large addressable market and we are favorable on the growth prospects that are associated with it. The scalability of the platform and the first mover advantage should provide Mydecine with a meaningful route to monetization and will monitor how this aspect of the story evolves from here.

When compared to other psychedelic therapy companies, Mydecine has not benefited as much from the increasing interest in the sector. We believe the name of the game for the company is execution and will monitor how the management team is able to drive the story forward. 

KetamineOne: A Consolidation Story to be Aware of

KetamineOne Capital Limited (NEO: MEDI) (OTC: KONEF) (Frankfurt: MY0) is focused on consolidating medical clinics and becoming a leading provider of mental health treatments in North America.

Earlier this week, the psychedelic therapy company reported an important development and announced that its wholly-owned contract research organization (CRO), KGK Science Inc., has achieved several milestones in its psychedelic research capabilities and significantly expanded its access to patients through further integration with Ketamine One.

KGK recently applied for a controlled drugs and substances dealer’s license under Canada’s Narcotic Control Regulations governing the possession, distribution, sale, clinical studies of and research and development of controlled substances. Subject to the approval of Health Canada, the license will effectively enable KGK to offer a turn-key solution for third parties to conduct clinical trials involving psychedelic molecules, while also authorizing KGK to act as a centralized distributor for large, multi-location clinical trials.

Currently, Ketamine One has a network of 16 clinics across North America and it plans to further consolidate the highly fragmented industry. The recent addition of KGK as the company’s CRO better positions the platform for growth and is an opportunity to be aware of. 

 

 

 

*Stonebridge Partners currently has a 6,000 share positions in Cybin Inc (NEO:CYBN) with no intent to sell

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Michael Berger

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