Ketamine therapy provider HOPE Therapeutics announced it plans to acquire five ketamine clinics and reach $100 million in annual revenue in less than a year. HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals (Nasdaq: NRXP), announced on Monday that it has secured $30 million in debt to finance the acquisitions. The company is apparently targeting five […]
Category: Psychedelics
Late last week, the psychedelics industry received its latest blow when the FDA shot down Lykos Therapeutics’ application for MDMA-assisted therapy for treating PTSD. Many in the psychedelics industry had hailed Lykos Therapeutics’ treatment as the pioneer for regulatory clearance. However, the FDA sent the pharma company back to the drawing board for more testing, […]
After years of clinical trials and industry anticipation, the FDA has red-lighted Lykos Therapeutics’ midomafetamine (MDMA)-assisted therapy for treating PTSD. The agency requested that Lykos conduct an additional Phase 3 trial to further study the therapy’s safety and efficacy. This comes after FDA advisors voted down MDMA therapy in June, saying the treatment lacked data […]
The psychedelic industry learned important lessons when a Food and Drug Administration advisory committee voted to reject a landmark MDMA-based therapy designed to treat PTSD. The rejection shook investors and demonstrates that FDA approval for novel psychedelic drugs is further away than previously thought, but industry insiders remain confident in the industry’s long-term success. The […]
Eating disorders have among the highest mortality rates of any psychiatric illness and remission rates among patients with eating disorders are, by some estimates, as low as 29%. New treatment modalities are urgently needed to improve outcomes, especially for people with severe and enduring eating disorders, industry insiders told Behavioral Health Business. Despite this, funding […]
Psychedelic-focused venture studio Beckley Waves has acquired digital ketamine-assisted therapy (KAT) provider Nue Life. Beckley Waves seeks to improve access to well-being-enhancing medicines and tools in an industry that is dominated by “antiquated” approaches to mental health, according to Daniel Love, co-founder and partner at Beckley Waves and interim CEO of Nue Life. “At the […]
London-based COMPASS Pathways plc (Nasdaq: CMPS) has secured $285 million in private funding to advance the company toward offering psychedelics as a treatment for mental health conditions. The company appears to see a clear path toward FDA approval and has convinced several investors of the opportunity. COMPASS Pathways named 11 investment firms and hinted at […]
The FDA is looking to hammer out a new pathway for studying the use of psychedelic drugs to treat behavioral health conditions. Specifically, the agency recently released a new draft guidance for the clinical development of psychedelic drugs. Although psychedelic drugs have shown promise in treating various mental health and substance use disorders, researchers have […]
Chicago-based mental health care provider Stella has acquired the majority of ketamine-assisted therapy provider Field Trip Health & Wellness Ltd’s U.S. assets. The deal gives Stella a new line of business which its CEO says complements its existing offerings. Plus, the combined Stella-Field Trip assets will generate higher revenue and lower overhead than Field Trip […]
For all the hype, psychedelics such as MDMA or psilocybin won’t succeed as a treatment or service line without substantial clinical support within behavioral health organizations. As recent ketamine-provider stumbles demonstrate, simply establishing access to and attempting to scale singular forms of treatment tend to lead to failure. Further, such treatment-specific ventures fail to address […]
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