Obtaining treatment for opioid addiction in specialized psychedelics clinics could soon be a reality for millions of Canadians. Vancouver-based Universal Ibogaine has announced its partnership with Westmount Park Investments to develop addiction treatment clinic centers across the country.
The clinics, marketed as Clear Sky Recovery, rely on Ibogaine, the African dissociative regarded in Pygmy and Bwiti tribal cultures for ritual and medicinal use. The root of the West African shrub has shown benefit in addiction treatment. Opioid addiction has skyrocketed in the last several decades as it’s often prescribed as post-operative or chronic pain relief. According to the National Institute of Health, 21 to 29 percent of opioid users misuse them. Approximately 80 percent of heroin users started out by abusing opioids.
“This is an exciting time for our company,” Shayne Nyquvest, Chair of Universal Ibogaine, said in a statement. “We’ve spent years developing our proprietary treatment protocol, preparing for a clinical trials application and navigating the complexities of this emerging industry.”
According to Universal Ibogaine, its treatment protocol for addiction has been successful for more than 3,500 sufferers. The company will now begin the application process with Health Canada.
Westmount Park Investments will develop the capital markets roadmap for Universal Ibogaine as it selects a bank for its expected Reverse Takeover.
“It’s time to move the needle on the opioid crisis by making this remarkable molecule available to those who need it,” said Nyquvest. “The overwhelming interest in our business is truly heartwarming and we’re thrilled to partner with Westmount and their network to get the reach we need to expand our brand globally.”
