Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) is launching a new psychedelic-assisted program for individuals suffering from mental distress associated with serious and chronic illness.
On Tuesday, the psychedelic therapy firm announced that it has partnered with Cedar Clinical Research facilities for the program which will be offering four key initiatives for psychedelic research and treatment.
The first initiative is the Group Psilocybin Pilot Study, led by Dr. Paul Thielking, the company’s Chief Science Officer. Numinus recently published findings from the study, shedding light on the safety, feasibility and potential efficacy of group-administered psilocybin for patients grappling with depression due to cancer. Beyond its therapeutic potential, this research also raises the possibility of cost-effective group therapy models.
A second initiative is the completion of a pilot project for group ketamine-assisted therapy interventions. The project focused on individuals grappling with chronic and severe illnesses and demonstrated the effectiveness of ketamine-assisted therapy in alleviating depression and psychological distress related to these conditions.
The third initiative is an upcoming Group Psilocybin Project, approved by both the U.S. Food and Drug Administration (FDA) and an Institutional Review Board (IRB).
This study aims to reduce therapist-to-patient ratios while continuing to evaluate the impact of psilocybin-assisted therapy on cancer patients with depression. Positive results from this research could potentially make psychedelic therapy more accessible and cost-effective for this patient group.
Finally, the fourth initiative comes after the company was selected as one of five different sites participating in the ketamine Research Foundation’s sponsored research study on ketamine-assisted therapy to reduce end-of-life distress.
“Through our innovative psychedelic program for serious and chronic illness, Numinus is spearheading a new era of transformative care”, Numinus CSO Dr. Thielking said in a statement.
“By harnessing the potential of psilocybin and ketamine-assisted therapies, we are providing hope and healing to individuals in need. We are excited to continue our innovative work and contribute to the advancement of psychedelic-assisted therapies for the betterment of patients worldwide.”
Numinus stock dropped by 2.94 per cent on Tuesday to $0.16 on the Toronto Stock Exchange.