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Numinus Wellness Inc. (TSX-V: NUMI) is pleased to announce its Clinical Advisory Council, chaired by Numinus Chief Medical Officer Dr. Evan Wood. Leveraging the expertise of its members, the council will be responsible for program development, knowledge mobilization and driving policy change in the psychedelic assisted therapy space.
Numinus is a Vancouver-based health care company helping to support the universal desire to heal and be well. Through its wholly-owned subsidiary Salvation Botanicals, Numinus has a Health Canada cannabis testing licence that allows the Company to test and analyze cannabis products from licensed producers. In addition, it is a late-stage applicant to receive a Health Canada standard processing licence to produce cannabis products. Numinus, through the same subsidiary, also has a dealer’s licence which allows the Company to test, possess, buy and sell MDMA, psilocybin, psilocin, DMT and mescaline. The Health Canada license also allows import/export, testing and R&D of these substances. The expanded licence will allow Numinus to support the growing number of studies on the potential benefits of psychedelic therapies through research projects, product development, and the supply and distribution of these substances. Numinus Wellness is dedicated to therapies that enhance and supplement existing options for people wanting lasting physical, mental and emotional health – with psychedelic treatments at its core when approved for therapeutic and research use. Psychedelics 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.
In just a few years, the perception about psychedelics and their possible uses has started to shift from a potentially dangerous party drug to an approachable medicinal product. For example, earlier in 2019, the U.S. Food and Drug Administration (FDA) approved the Spravato (esketamine) nasal spray, in conjunction with an oral antidepressant, for the treatment of depression in adults who have tried other antidepressant medicines but have not benefited from them (treatment-resistant depression). There are some caveats, as the patient who self-administer Spravato nasal spray must do so under the supervision of a health care provider in a certified doctor’s office or clinic, and the spray cannot be taken home. Nevertheless, such an approval is crucial to the developing psychedelics market. According to The Verge, Steve Levine, the Founder of Actify Neurotherapies, which runs 10 ketamine clinics around the country explained that “We deliver an off-label treatment that has the baggage of being known as a club drug… Now we’ve moved from ‘we deliver horse tranquilizer off-label’ to ‘we deliver FDA-approved Spravato’ and it’s just easier to talk to people about that.”
There are many similarities between psychedelics’ path to legalization and that of the cannabis industry. Medical cannabis can already be found in many regions around the world such as parts of the U.S., Australia, Canada, France, Germany, Thailand, and South Korea. Predominantly, the overall CBD market is driven by the medical sector. Unlike cannabis, which has to deal with federal research restrictions, psychedelic substances, including ketamine, psilocybin and ibogaine, have been granted FDA approval for clinical trials. As Forbes has reported, in 2018 and 2019, the FDA designated psilocybin, the psychoactive compound found in mushrooms, as a “Breakthrough Therapy” to treat clinical depression. This coveted classification allows the developers of the drug to conduct clinical trials with more regulatory support and fast-tracks the development and review of final treatments.
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