Numinus’ acquisition of Novamind will see the complementary businesses create a North American platform for psychedelic therapy and research.
The combined businesses will have operations spanning 13 wellness clinics, four research sites and one bioanalytical laboratory. The pair will have a shared mission of responsibly reintroducing psychedelic therapy to mental healthcare.
The clinics are based across the US and Canada, and will continue developing and scaling innovative psychedelic therapy protocols and procedures for difficult-to-treat mental health conditions including post-traumatic stress disorder (PTSD), Covid-19 burnout, depression, addiction and eating disorders.
Founder and CEO, Numinus, Payton Nyquvest, commented: “Since Numinus began, we have always strived to be the most trusted, evidence-based leader in psychedelic-assisted therapy and medicine.
“The Novamind acquisition presents a transformational opportunity for Numinus to launch a strong US platform through eight established, reputable, efficiently operating and revenue-producing clinics.
”We prioritise working with the best partners in this industry and Novamind’s US market presence, complementary client programming and respected clinical research capabilities allow us to accelerate our strategic growth plans and broaden access to healing and wellness.
“We expect this acquisition will significantly bolster our financial performance, growing Numinus’ annual revenue to more than five times our current levels, and driving meaningful margin improvement through identified operating efficiencies. Our combined capabilities will deliver exceptional value for our clients, employees, and shareholders. We look forward to welcoming the Novamind team to the Numinus family.”
The acquisition will see increased client programming with complementary service offerings to be shared and expanded across the combined clinic network along with a best-in-class service offering with clinics providing a wide range of traditional, innovative and psychedelic mental health treatments.
These services include ketamine-assisted psychotherapy (KAP), Spravato (esketamine), transcranial magnetic stimulation (TMS), talk therapy, group therapy, medication management, psychedelic palliative care and neurological care.
Clinics will also offer family and couples counselling, as well as in-person and virtual group therapy for expanded access to innovative treatments.
Additionally, the acquisition will see Novamind’s clinical research site management capabilities combined with Numinus Bioscience’s bioanalytical laboratory expertise.
CEO and co-founder, Novamind, Yaron Conforti, added: “This transaction offers significant value for Novamind’s shareholders and provides compelling new opportunities for our employees, patients and research partners.
“The combination of Novamind’s network of mental health clinics and research sites in the US and Numinus’ leadership in psychedelic-assisted psychotherapy in Canada creates a best-in-class company.
“The combined entity is supported with over C$50m in pro-forma capital and positioned with distinct capabilities to serve a growing and diverse group of stakeholders. We are excited to join Numinus, a true leader in mental health innovation.”
Novamind’s US DEA Schedule 1 licenses for psilocybin research complement Numinus Bioscience’s extensive Health Canada Controlled Drugs & Substances License to possess, produce, assemble, sell, export, deliver, research, and test a wide range of psychedelic drugs and botanical materials, including DMT, ketamine, LSD, MDMA, mescaline, psilocin, psilocybin, ayahuasca and San Pedro.
The four clinical research sites and bioanalytical laboratory are currently supporting leading drug developers in psychedelic medicine with critical infrastructure and services.
Select ongoing psychedelic medicine clinical trials include a compassionate access trial for MDMA-assisted therapy for PTSD in collaboration with MAPS Public Benefit Corporation (MAPS PBC); a phase II clinical trial investigating psilocybin for major depressive disorder; an open-label compassionate access trial of psilocybin-assisted psychotherapy for substance use disorders; a phase IIb randomised clinical trial investigating LSD for generalised anxiety disorder in adults; and, a phase I randomised clinical trial investigating the safety and efficacy of KAP combined with Mindfulness-Oriented Recovery Enhancement therapy for the treatment of adults with opioid use disorder.
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