Field Trip IPO; MindMed + NYU: News & Events
Field Trip IPO
On Tuesday, Field Trip Psychedelics became the third publicly traded psychedelic company with at least a $100 million valuation behind MindMed and COMPASS Pathways.
If COMPASS is the tech-enabled psychedelic/mental health delivery company and MindMed has the largest psychedelic drug development pipeline, then Field Trip is a bit of both, with clinics as the primary offering at the moment.
Field Trip Clinics are open in Toronto and New York with plans for as many as 75 in the next few years, where they administer ketamine and psychotherapy with plans to include other molecules and protocols as they are approved.
However, Filed Trip is also developing the cultivation and extraction of naturally sourced psilocybin products through their partnership with the University of the West Indies in Jamaica. Just last week announced a synthetic candidate (FT-104, a 5-HT2 agonist) for clinical trials.
Among the current 'big three’ Field Trip is the sole outfit that is positioned to administer regulatory approved psychedelic medicine within the conventional healthcare model (physician-supervised, out of pocket or payor reimbursed, etc.) as well as administer future treatments under a legalized framework that could materialize.
News and Events
“MindMed… announced a funding commitment to found and launch a clinical training program focused on psychedelic assisted therapies and psychedelic inspired medicines at NYU Langone Health, one of the nation's premier academic medical centers. The NYU Langone Health Psychedelic Medicine Research Training Program is the first step in a larger initiative to establish a Center for Psychedelic Medicine at NYU Langone Health.”
Marijuana Moment: Mark Zuckerberg Supports Drug Decriminalization With Half-Million Dollar Oregon Campaign Donation
Therapsil: 17 Healthcare Professionals Wait Over 100 Days for Access to Psilocybin; Patients Who Urgently Need Psilocybin Therapy Without Qualified Help
“17 healthcare professionals including doctors, nurses, psychiatrists, psychologists, clinical counselors, and social workers have applied for legal access to psilocybin, and are awaiting an imminent response from Minister Patty Hajdu, expected the week of October 5th, 2020.”
Event: Capital Psychedelic Summit
“Washington DC is preparing to vote on decriminalization, and poling indicates we have the numbers to pass. What does Decriminalization mean in The District of Columbia, both for residents and the nation, alike.
How does the "Grow, Gather, Give" model promote access to underserved communities. What are the implications for Drug Policy?
The Capital Psychedelic Summit is a frank discussion on the real-world ramifications of changing policy and attitude towards psychedelics.”
The New Yorker: Turn On, Tune In, Get Well
“What distinguishes our effort is, you’ve got the practical focus on treatment of hard-to-treat psychiatric disorders front and center,” Bogenschutz said. The center will have no structural relationship with MindMed, but MindMed is looking to return its testing, now run by partners in Australia (tax incentives) and Switzerland (out-there medicine), to the U.S. for late trials.”
Thanks for reading. See you next time.