FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Dr. Gabor Maté, recognised physician and bestselling author, joins Numinus as Member of the Clinical Advisory Council.”
Numinus Wellness Inc. (TSX-V: NUMI) is pleased to announce the appointment of Dr. Gabor Maté, MD, CM, as a Member of the Numinus Clinical Advisory Council. Through over 30 years’ work in family practice, palliative care and addiction medicine, Dr. Maté has pioneered therapies and innovative, trauma-based approaches to mental health. His advocacy for mental health research and awareness have earned him international recognition from the healthcare community.
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.
The fast pace of technological development in the biotechnology industry and the shifting market demands require continuous innovation. This, in turn, puts pressure on companies to invest vast resources in research and development. As a result, there were several innovative achievements scientists and researchers have made in biotechnology in recent years. Among the fields of study are gene editing, tissue engineering and regeneration, nanobiotechnology and others. However, there are also entire new segments which have emerged in the field of medicine. For example, the medical cannabis segments or the rising acceptance of psychedelic products used as a treatment for various health conditions including depression, panic disorders, post-traumatic stress disorder (PTSD), and opiate addiction. In recent years, a handful of psychedelic products have been launched and developments were announced or initiated by companies worldwide, including established pharmaceuticals like Johnson & Johnson.
Psychedelics are a class of psychoactive substances that produce changes in perception, mood and cognitive processes. Examples of some of the recent announcements related to psychedelics used in a medical context include the FDA’s approval of the first ketamine based psychedelic medicine from Johnston & Johnston to treat depression, called Spravato, back in 2019. Additionally, also in 2019, Denver became the first state to decriminalize magic mushrooms (Psilocybin), taking a similar path to the legalization of marijuana. Then, in November 2019, the FDA awarded the second Breakthrough Therapy designation to non-profit Usona Institute, which is also studying the effects of psilocybin as an anti-depressant. In the United States alone, the psychedelic drugs market is projected to reach a value of USD 6,859.95 Million by 2027 from USD 2,077.90 Million in 2019 while growing at a CAGR of 16.3% during the forecast period of 2020 to 2027, according to Data Bridge Market Research.
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