Pending clinical trial approval from Health Canada, Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) will be supplying MDMA for a new training program involving the psychedelic being developed by Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) and the Multidisciplinary Association for Psychedelic Studies.
The companies and psychedelic research organization announced the supply agreement, partnership and experiential training initiative on Thursday which will be held at the Vancouver clinics owned by Numinus.
Numinus already provides several different psychedelic-assisted therapy training courses, but this will be the first to utilize the protocol from MAPS and the first time the association has ever granted its use to a company like Numinus.
Clinical trial approval from Health Canada would allow medical practitioners interested in providing MDMA-assisted therapy to receive and observe therapy sessions with the psychedelic drug to help improve their understanding of its effects and how to administer psychedelics in clinical settings properly.
It would also allow Numinus to test the efficacy and safety of MDMA in healthy trial participants and further its understanding of how the drug works.
🌟 Exciting News! 🌟 We’re thrilled to announce that Numinus has submitted a Clinical Trial Application (CTA) to Health Canada to enable MDMA-assisted therapy Experiential Opportunities for practitioners as part of an investigational Phase 1 clinical trial.
If approved, Numinus… pic.twitter.com/woIpThkIlZ
— Numinus (@NuminusHealth) June 15, 2023
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Demand for MDMA-assisted therapy will grow in the coming years
“Therapists provided experiential training within the parameters of this partnership will be able to provide a greater standard of care to patients undergoing these treatments,” said Optimi Health’s CEO Bill Ciprick.
Optimi Health is a company licensed by Health Canada to produce and provide psychedelics like MDMA and psilocybin for clinical trials. The company recently developed a novel variety of MDMA at its facility in Princeton, B.C. called OPTI-MHCL.
Optimi secured an MDMA and psilocybin distribution agreement in Australia in March and will begin exporting the psychedelics to the country once its authorized prescriber scheme takes effect this July.
“Along with MAPS, we are pioneering a new era of research and access to MDMA-assisted therapy, empowering therapists to unlock transformative healing journeys for their clients,” said Payton Nyquvest, Founder and CEO of Numinus.
Numinus recently appointed a new Chief Financial Officer, Nikhil Handa. Handa was previously the CFO of Supreme Cannabis Company, which was acquired by Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) in 2021.
The company observed a whopping 581 per cent increase in year-over-year revenue in early 2023 and established its third psychedelics research site in the United States in Phoenix, Arizona earlier this year.
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Read more: MAPS launches online education program on psychedelics
“Our 37-year journey to medicalize the therapeutic use of psychedelics has never been closer to a reality, and we’re thrilled to have Numinus as a partner in this work,” said Rick Doblin, Founder and President of MAPS.
MAPS launched an online School of Psychedelics in May to educate people about the history and therapeutic potential of psychedelics like MDMA, psilocybin and LSD along with contemporary research on the drugs, legal and regulatory issues and other topics. The organization also recently received a US$25 million grant to study the impact of cannabis on Veterans suffering from PTSD.
Optimi shares dropped by 2.33 per cent on Thursday to $0.21 on the Canadian Securities Exchange.
Numinus stock stayed flat at $0.22 on the Toronto Stock Exchange.
rowan@mugglehead.com
