As the Mental Health Crisis intensifies, one psychedelic drug company has recently been forging ahead on both treatment and health-and-wellness initiatives to address this Crisis
The COVID-19 pandemic continues to grab most media headlines. However, in some ways the Mental Health Crisis is an even worse pandemic.
It affects far more people than the coronavirus. Over 1 billion people around the world suffer from stress-related mental health disorders like depression, anxiety, addiction and PTSD.
A bigger Crisis than COVID?
Mental health disorders are the leading cause of disability globally. And via suicides and drug overdoses, the Mental Health Crisis is also producing large numbers of fatalities.
The COVID pandemic is causing rates for these stress-related disorders to explode higher. Yet existing treatment options for most of these disorders are grossly inadequate.
Psychedelic drugs are seen as (by far) the best hope in addressing the Mental Health Crisis. Clinical studies have been consistently yielding spectacular treatment results – far superior to the existing standard of care.
But mental health is a spectrum. Only a minority of people are in such acute mental distress that they require psychedelics-assisted psychotherapy.
For many, merely some supplemental assistance is all they need to maintain their mental health. Here both psychedelic drugs and functional mushrooms (nootropics) have a role to play in mental health maintenance.
One public company that is active in both of these areas is Mind Cure Health (CAN:MCUR / US:MCURF).
Vancouver-based Mind Cure commenced trading in September 2020 and was one of the best performers among psychedelic stocks last year. Its business model centers on Five Spheres™ for corporate development: research, discovery, clinical programs, technology and GMP scale-up.
The Company was already active in developing its Moonbeam product line of organic functional mushroom supplements. Focusing on Lion’s Mane, Reishi and Turkey Tail mushrooms, these products are aimed at promoting “daily mental hygiene and cognitive function”.
Mind Cure has also quickly built a strong management team and advisory board around this business model.
More recently, MCUR has made several specific moves to advance its Five Spheres™.
Mind Cure establishes psychedelics-assisted clinic operations
On December 10th, Mind Cure announced its first psychedelics-assisted clinic, scheduled to open in Kelowna, B.C. in May 2021.
Mind Cure CEO Kelsey Ramsden pointed out that Kelowna was a great hub from which to launch psychedelics-based mental health services – due to its proximity to large population centers in both British Columbia and Alberta.
Treatment will focus on ketamine-assisted therapy (which is already legal) as well as psilocybin-assisted therapy, via Health Canada’s Section 56 medical exemptions. Mind Cure is also establishing a therapist training program in Kelowna as it expands its treatment footprint.
Three previous announcements from Mind Cure also closely relate to this clinic initiative. On October 21st, Mind Cure announced the acquisition of Epiphany360, a digital therapeutics medtech platform.
Digital therapeutics is not only part of a broader revolution in providing medical treatment, it is especially appropriate for improving both the efficacy and efficiency of psychedelics-assisted medicine.
On January 6, 2021, Mind Cure has announced the build out of iStrym, an enhanced digital therapeutics platform specifically designed to optimize health care in the treatment of mental health conditions.
To facilitate the integration of this technology, on October 15th Mind Cure brought in Geoff Belair as its Chief Technology Officer.
Mind Cure becomes more active in psychotropics and nootropics
More recently, the Company has been advancing operations in both research and product development. On December 8th, MCUR announced a new research program to develop novel compounds focusing on psilocybin, ketamine and ibogaine.
Mind Cure’s principal focus is to deliver “commercially viable medicines” from these psychotropic substances.
Mind Cure has also been active on the product development front. Just before the New Year, MCUR announced the release of its latest formulation: Mind Cure Teen – an all-natural supplement to support the mental health of teenagers.
Apart from all the normal stresses of teenage life, the COVID pandemic has been especially hard on younger people.
Mind Cure Teen will be launched in 17 retail locations in Vancouver and Los Angeles starting in February. It will be available for pre-order on the Company’s website in January.
Mind Cure expects to have its Moonbeam organic mushrooms available for sale in February. Mind Cure’s goal is to expand digital retail opportunities globally by late 2021.
A Crisis becomes an opportunity
As new vaccines are rolled out, COVID-19 is expected to be brought under control over the course of 2021. Unfortunately, the Mental Health Crisis is not about to go away.
Over one billion people are in need of better drugs and treatment options to address serious stress-related mental health issues. Psychedelic medicines are also targeting numerous neurological conditions where there are also acute needs for more effective treatments.
In addition to new/better medicines to address the Mental Health Crisis directly, we also need new strategies (and health-and-wellness products) to better maintain our mental health.
With a current market cap below CAD$40 million, Mind Cure not only offers investors an outstanding value proposition. It is also attractively priced versus peers in the sector.
As Mind Cure Health tackles the Mental Health Crisis on two fronts, a health crisis is becoming an investment opportunity.
DISCLOSURE: The writer holds shares in Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.