Ketamine One Aims to Become a North American Mental Health Leader
July 12th, 2021
Psychedelics, Top News
Nearly one in five Americans were living with a mental illness or addiction in 2019, according to the National Institutes of Health. While the U.S. spends $16 billion on mental health treatments and ancillary services each year, challenges connecting with patients, significant adverse side effects, and other factors have made the problem difficult to overcome.
After decades of prohibition, emerging research suggests that psychedelics could play an essential role in treating mental health conditions. For example, a Johns Hopkins study found that two doses of psilocybin relieved major depressive disorder symptoms, and a recently approved ketamine treatment eliminated suicidal ideations in just two to four hours.
Let’s look at how KetamineOne Capital Ltd. (NEO: MEDI) (“Ketamine One” or the “Company”) plans to bring these treatments to patients and overcome some of the critical barriers in administering mental health treatments with technology.
Building a Physical Footprint
Ketamine One is building a network of clinics across the U.S. and Canada that will initially administer FDA and Health Canada-approved ketamine products. These products can treat anxiety, severe depression, post-traumatic stress disorder, chronic pain, and addiction.
The Company’s current portfolio consists of 16 clinics and four additional clinics under a letter of intent. Management believes that its assets will generate revenue of C$10 million in 2021. By the first quarter of 2022, the company hopes to have expanded to 30 clinics, making it one of the largest public companies providing ketamine-assisted therapies.
As psilocybin and other psychedelics treatments are approved, the Company will be well-positioned to expand its services within the same patient population. Based on early research, the safety and efficacy of these future treatments could make them a frontline treatment option for a wide range of mental health conditions.
Using Cutting-edge Technology
Ketamine One plans to use new technologies to solve some of the historical challenges facing mental health treatments. For example, the Company plans to connect with patients using cutting-edge telehealth technologies and wearables, making it easier for physicians and patients to keep in touch without making unnecessary trips to a clinic.
To support this facet of the business plan, the Company is designing its very own wearable device to track patient vitals before, during, and after psychedelic therapies. The data points from these devices could be invaluable in conducting clinical research, as well as fine-tuning treatment plans to optimize outcomes.
The Company’s MindScape facility in Texas also became one of the first centers of its kind to introduce immersive virtual reality (“IVR”) to enhance ketamine-based treatments. Over the coming quarters, Ketamine One plans to further develop its proprietary IVR platform for deployment across its entire North American network of clinics.
In addition to connecting with patients, the Company plans to leverage the data generated from its clinical network to guide industry research and identify opportunities. For example, Ketamine One could discover new therapeutics or treatment plans for specific mental health conditions, creating an opportunity to build an intellectual property portfolio.
Growing Through Partnerships
Ketamine One has established several partnerships to achieve its goals in the most capital-efficient way possible.
The Company has a 10-year agreement with Unifor, Canada’s largest private-sector union, to support its members, retirees, and eligible dependents. Under its exclusive contract, Ketamine One provides access to medical cannabis product insurance reimbursements and physician-led cannabinoid therapy, and now it’s expanding into mental health services.
The Company also recently acquired KGK Science, a leading clinical research company. KGK Science is a leading contract research organization that has produced 150 publications, executed over 400 clinical trials, and accumulated huge amounts of data. In 2020, this business generated $4.4 million in revenue, a figure that’s only expected to grow.
In addition to providing immediate revenue, Ketamine One plans to launch clinical studies to explore the potential for its proprietary IVR technology to improve treatment outcomes in patients. These kinds of studies could expand the company’s intellectual property portfolio and pave the way for licensing and royalty-based business models.
Ketamine One (NEO: MEDI) provides investors with a unique opportunity to participate in psychedelics. With plans to become the largest clinic network in North America, the Company has a compelling business plan that ventures beyond clinics to build value through wearables, telehealth, and data collection and analysis.
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