Psychedelic Business Spotlight – May 13

Beckley Retreats to Launch in Jamaica This Fall

This week in psychedelic business news, Beckley Retreats, a psilocybin-focused, holistic wellbeing company, announced sessions will begin in Jamaica in October. The Caribbean country is one of the few where the cultivation, gifting, and consumption of psilocybin mushrooms is legal, so it's an ideal starting point for the comprehensive program, which includes curated pre-retreat preparation, as well as post-retreat integration to encourage the formation of new habits, practices, and thought patterns. CEO Neil Markey leads a team of clinical experts and spiritual guides. The retreat, which costs at least $5,500 per person, combines ancient teachings and mindful practices with individual guidance to create an unparalleled experience.

Field Trip and Nue Life Collaborate to Bring Psychedelic Therapy Home

Field Trip Health (NASDAQ: FTRP, TSX: FTRP) launched Field Trip at Home™ Powered by Nue Life this week, now providing ketamine treatments from the comfort of a person’s home, in addition to 12 psychedelic-assisted therapy clinics across North America and Europe. Through this arrangement with Nue Life — an advanced wellness platform for personalized, at-home psychedelic care — Field Trip now offers increased accessibility and convenience for those interested in pursuing ketamine therapy outside of a clinic setting through Nue Life’s telehealth offerings: an interactive companion app and virtual aftercare programs. “In late April we announced that Field Trip’s clinics and technology division is ready to evolve into its own independent, standalone company. As part of that spinout, our name is changing from Field Trip Health to Field Trip Health & Wellness, which is in recognition of our promise to expand access to more people who can benefit from these powerful therapies,” says Ronan Levy, Field Trip’s Executive Chairman. “Launching Field Trip at Home™ Powered by Nue Life is the first step in delivering on that promise.”

Ketamine Wellness Centers Offers Arizona Veterans Treatment at No Out-of-Pocket Cost

Ketamine Wellness Centers, the largest ketamine therapy provider in the U.S. and a subsidiary of Delic Corp (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0), has partnered with the Veterans Administration (VA) in Arizona to offer veterans suffering from treatment-resistant depression, PTSD and anxiety access to ketamine therapy at the KWC Arizona clinics in Phoenix, Tucson and Mesa–Gilbert at no out-of-pocket cost with prior authorization from the VA. Previously, the company's Burnsville, Minnesota location partnered with the VA to offer the same deal. “At KWC, we take great pride in supporting our veterans in Arizona and across the country. Unfortunately, veterans often face challenges securing the care they seek, such as access and affordability, and our partnership with the Veterans Administration will help to alleviate some of them,” says Kevin Nicholson, CEO of KWC and COO of Delic, said. “We anticipate even more VA contracts as a result of the resources KWC has committed to expanding insurance coverage for our patients.”

OG ‘Shark Tank' Star Kevin Harrington Invests in Psycheceutical

More sharks have entered the psychedelic business. Original Shark Tank entrepreneur Kevin Harrington has joined biopharmaceutical company Psycheceutical, Inc., a wholly owned subsidiary of Psycheceutical Bioscience, Inc. (OTC: BWVI),  as the corporation's newest investor and strategic advisor, providing expertise on the strategy, direction, and execution of the company's growth and development in pursuit of its mission to accelerate the research, availability, and delivery of psychedelic pharmaceutical medicines.  Harrington, who created the As Seen on TV brand, says, “It seems clear to me that psychedelics are the future of mental health treatment, but they need to be delivered safely like pharmaceutical medicines, which is why I'm so excited about Psycheceutical.”

MindMed LSD Trial for Anxiety Deemed a Success

Psychedelic business MindMed (Nasdaq: MNMD, NEO:MMED) finally gave the world a glimpse into its LSD-as-medicine project this past Wednesday while speaking at the highly anticipated PSYCH Symposium in London. Researchers Prof. Matthias Liechti and Dr. Friederike Holze presented positive topline data of a Phase 2, double-blind, placebo-controlled study, attempting to treat anxiety disorders with LSD in 46 patients. Patients received 200 µg (micrograms) of LSD, which is considered a large dose. The study found that 65% of patients saw their anxiety levels drop by at least 30% from where they were before treatment, 16 weeks after dosing. Read the full story here.