Integrated company to play a lead role in emerging psychedelic assisted therapy and research space
VANCOUVER, May 20, 2020 /CNW/ - With momentum building for the use of psychedelic assisted therapies in addressing the growing problems of mental illness, addiction and trauma, Vancouver-based Numinus Wellness Inc. began trading today on the TSX Venture Exchange under the symbol NUMI as one of the first in-market, fully integrated companies in the psychedelic space in North America.
"This is an exciting day for all of us at Numinus," says CEO Payton Nyquvest. "We are on a mission to help address the universal desire to heal and be well. We are looking for like-minded investors who share our belief that new approaches and new ways of thinking are needed to supplement existing options."
Numinus has put a value chain in place comprising three pillars that will be key to the company's growth:
- Numinus Wellness plans to offer physical locations where psychedelic-assisted therapies can take place once approved by regulators. The company's near-term goal is to identify a suitable location and build a purpose-built, flagship wellness centre to conduct psychedelics-assisted therapies in a safe, controlled therapeutic environment when approved by regulators and governing bodies — a process we are helping to support. Numinus Wellness provides a full suite of therapeutic services through a wellness centre in Vancouver; however, psychedelic-assisted therapies are not currently provided.
- Numinus R&D is creating partnerships with leading research groups to advance practice and understanding in the space.
- Numinus Bioscience is licensed by Health Canada to test, sell, distribute, and eventually conduct research on psychedelic substances. Sustainable cannabis revenue driven by our testing operations provides us a foundation for growth – differentiating us from others in the psychedelics space.
"We are excited about the future of psychedelics and our focus will solely be on its therapeutic use," says Nyquvest. "Psychedelics will move forward in a therapeutic and research context, where the application of these substances will only happen in safe, controlled treatment environments. Numinus has these pieces in place today."
The efficacy of psychedelic therapies are gaining attention. Johns Hopkins University recently announced the Center for Psychedelic and Consciousness Research, a first-of-its-kind $17-million research centre designed to study compounds like LSD and psilocybin for a range of mental health problems, including anorexia, addiction and depression. In 2017, the US Food and Drug Association (FDA) granted Breakthrough Therapy Designation to MDMA for the treatment of PTSD, and MDMA is currently in the final research phase required by the FDA before deciding whether to approve MDMA as a legal prescription treatment for PTSD in the US. British Columbia's BC Centre on Substance Use has attracted leading researchers in the field to advance evidence-based research into the therapeutic benefits of psychedelics.
Numinus is a Vancouver-based health care company helping to support the universal desire to heal and be well. Numinus believes the societal costs of mental illness, addictions, trauma and unmet human potential are much too high. New approaches and new ways of thinking are required to supplement existing options, including the application of psychedelic assisted therapies when approved by regulators. Numinus Wellness operates a stand-alone centre offering patients integrative health solutions to help heal, connect and grow. Psychedelic assisted therapies will be part of this offering but will only be available for treatment once approved by regulators and governing bodies — a process Numinus is helping to support. Numinus R&D is creating partnerships with leading research groups to advance practice and understanding in the space. Numinus Bioscience is licensed by Health Canada to test, sell, distribute, and eventually conduct research on psychedelic substances. Sustainable cannabis revenue driven by testing operations provides us a foundation for growth. For more information visit www.numinus.ca.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to operate and expand the Company's facilities; engaging in activities which currently are illegal under Canadian federal law and the uncertainty of existing protection from Canadian federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including federal and provincial legalization, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; the Company's limited operating history and lack of historical profits; reliance on management; the Company's requirements for additional financing, and the effect of capital market conditions and other factors on capital availability, including closing of the financings contemplated herein; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
SOURCE Numinus Wellness Inc.
Renseignements: Investor Inquiries: [email protected]; Media Inquiries: Emily Edwards, NATIONAL, [email protected], 604-842-6490; General Inquiries: [email protected], 1-833-NUM-INUS (1-833-686-4687); Pour investir et obtenir des renseignements généraux en français: Remy Scalabrini, Maricom, [email protected]; 888-585-6274