This week in psychedelic business news: Field Trip partners with Cerebral; Benzinga forms Psychedelic Advisory Council; Incannex pursues virtual reality psychedelic therapy; and we share some big news of our own.
Field Trip Health and Cerebral Partner to Provide End-to-End Mental Health Care
Kicking off this week's psychedelic business news, Field Trip Health (NASDAQ: FTRP, TSX: FTRP) — a psychedelic therapy provider with eight locations in the U.S. — has partnered with Cerebral, the fastest growing online mental health platform, which refers qualified clients to Field Trip's ketamine-assisted therapy, while Field Trip will connect potential clients seeking general psychiatry and teletherapy services to Cerebral. Ronan Levy, the Executive Chairman of Field Trip, says the agreement “will lower the barriers of entry into ketamine assisted therapy for many people who have solely been exposed to generalized psychiatry or might have not been presented with an alternative of exploring a healing journey propelled through psychedelics.”
Major Psychedelic Industry Players Join Benzinga's Psychedelic Advisory Council
Some of the biggest names in the psychedelic business have joined Benzinga's newly formed Psychedelic Advisory Council in preparation for the Benzinga Psychedelics Capital Conference in Miami on April 22. Members will share their expertise through a series of articles, opinion pieces, live conversations at the conference. The Council consists of Cybin CEO Doug Drysdale, MindMed CEO Rob Barrow, Atai Life Sciences CEO Florian Brand, Field Trip Health Executive Chairman Ronan Levy, Mindcure Health CEO Kelsey Ramsden, and more industry leaders. Psychedelic Spotlight was proud to host three of these executives— Drysdale, Barrow, and Levy—during a Psychedelic CEO Roundtable discussion last month, and we look forward to hosting more conversations like it, involving key personalities from all aspects of the growing industry.
Incannex Partners with Monash University to Develop Virtual Reality and Psychedelics Treatment
Incannex Healthcare Limited (Nasdaq: IXHL) (ASX: IHL), a clinical-stage psychedelic medicine company, has executed a license agreement with Monash University in Australia to develop a novel treatment that combines virtual reality and psychedelics, marking the company's second clinical psychedelic therapy program. This one is designed to develop a new treatment for severe forms of one or more anxiety disorders, using technology developed by BrainPark, a state-of-the-art clinical research platform at Monash University's Turner Institute for Brain and Mental Health. Incannex CEO Joel Latham says, “The combination of psychedelic compounds with an evidence-based VR therapy is a leading edge in the field of mental health treatments.” The company will share more details of the trial once planning is complete, but in a nutshell, the VR treatment uses an exposure-based approach, providing triggering stimuli in a graded and controlled manner, alongside a support team and administration of a psychedelic drug. The researchers expect this approach may allow for the development of new skills, changes in mental and biological responses to triggering stimuli, and reductions in pathological symptoms and behaviors.
Optimi Health Upgrades to the OTCQX Best Market
Optimi Health (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN), a company developing functional mushroom and novel psychedelic compounds, is now available to trade on the OTCQX Best Market under the symbol “OPTHF.” CEO Bill Ciprick says, “This is an important milestone for Optimi as we look to increase our presence in the capital markets. The OTCQX Best Market is the highest market tier of OTC Markets and can enhance the company's visibility to U.S. investors.”
Say Hello to Newly Rebranded PSYC Corporation and Watch ‘Spotlight in Focus' on ALTRD.TV
Last but not least in this week's psychedelic business roundup, Psychedelic Spotlight is pleased to announce some news of our own. Our parent company, Global Trac Solutions, has completed a corporate name change to PSYC Corporation (OTCPink: PSYC).
“PSYC underwent a significant transformation in the last year-and-a-half,” says CEO David Flores. “I believe our previous corporate name no longer accurately reflects who we are as a company today and who we intend to be in the years ahead. In the past several months, we fully embraced our identity as a leading media source for the growing psychedelics community, and, in my opinion, also established a reasonably visible path forward to create long term value for our loyal shareholders. With, what is in my opinion, the best ticker symbol in the space already on our side, our focus is to leverage this corporate name reset to help further solidify our position in an industry that continues to demonstrate exciting growth potential.”
Additionally, we're proud to present the second episode of our flagship television series Spotlight in Focus, which premiered on ALTRD.TV this week. Hosted by Autumn Tribitt, the series offers in-depth analysis and candid interviews with luminaries throughout the field of medicinal psychedelics. Together we'll break the stigmas, build community and look to answer the questions you may have about all things psychedelic.