- Mind Cure Health Inc. CEO Kelsey Ramsden was featured in a recent Bell2Bell podcast interview, during which she explained the company’s primary focal points – digital therapeutics and drug development
- On the digital therapeutics side of its business, the company is developing iSTRYM, a clinical-grade, evidence-backed, science-based, AI-driven tool for both therapists and patients, scheduled for full commercial launch in Q1 2022
- MCUR has successfully synthesized the chemically complex ibogaine and intends to scale up its production during the remainder of 2021
As a diversified life sciences company at the forefront of the mental health industry, Mind Cure Health (CSE: MCUR) (OTCQB: MCURF) actively develops technology, conducts research, and distributes products. According to company President and CEO Kelsey Ramsden, who was featured in a recent Bell2Bell podcast (https://ibn.fm/dyDt5), its two focal points are digital therapeutics, focusing on psychedelic therapy, and drug development, leaning toward psychedelic molecules.
When the company was developing its model and go-to-market strategy, it considered the regulation and timing of regulatory change instead of solely focusing on clinics and molecules. This positions the company to align with changes at the government level unlocking some of the psychedelic molecules.
“What that meant for us was investigating molecular research that would be the blue-sky horizon, so, independent of when the typical generic MDMA or Psilocybin get approved, we’re in charge of the approval process, meaning we do the clinical research on the novel molecule to get it to market. That is drug development,” stated Ramsden.
On the digital therapeutics end, Mind Cure Health is developing a clinical-grade, evidence-backed, science-based, AI-driven tool, known as iSTRYM, for therapists deploying psychedelic assisted therapy in clinics. iSTRYM, which modernizes care, is also meant to help patients have an app that supports them through their care, resulting in better outcomes, shorter patient timeframes in clinic, and approval and unlocking insurance payments for psychedelics.
Once dismissed as trifles of counterculture, psychedelics are now being held to a higher regard. This is largely due to revelations, through research, that they can be used to treat mental health conditions such as depression, drug dependency, PTSD, and more. However, according to a New York Times article, they are yet to receive mainstream acceptance despite the ongoing scientific work to change this (https://ibn.fm/ffIQo). This is perhaps due to stigma and the old view people may still have of psychedelics, which is why podcast host Stuart Smith sought to find out how the company intends to deal with this hurdle.
“I do think we do have some of these hurdles to overcome, but, at the same time, with tools like digital therapeutics and research-backed psychedelics, I think we overcome some of the stigma with science,” Ramsden explained.
So far, in 2021, MCUR has reached some key milestones, including raising $23 million in a bought deal short form prospectus public offering that closed in February this year (https://ibn.fm/BJH9h). On the technology side, MCUR launched the minimum viable product (“MVP”) of iSTRYM in Q3 2021. On the drug development and research side, the company synthesized ibogaine and has launched the second stage of manufacturing pharmaceutical grade ibogaine to be used in clinical research. The company has also filed patent applications for two routes of chemical synthesis of ibogaine.
“Ibogaine comes from the iboga root out of Africa. It’s a psychedelic drug and is very complex chemically, very difficult to build in the lab fully chemically synthesized, which is what we need to get stability and normalcy so that we can meet FDA regulations. And our team successfully synthesized ibogaine – the full chemical synthesis,” Ramsden continued.
When asked about the company’s plans for the remainder of 2021, the company intends to spend about six months iterating the iSTRYM product in anticipation of a full commercial product launch in Q1 2022. Mind Cure Health also aims to scale up its ibogaine production to provide the psychedelic drug to researchers. Further, it is working on new research initiatives, to be announced in due course.
For more information, visit the company’s website at www.MindCure.com.
NOTE TO INVESTORS: The latest news and updates relating to MCURF are available in the company’s newsroom at http://ibn.fm/MCURF
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.