Despite the cooling stock prices of a lot of psychedelic companies, research on psychedelic-enhanced therapy programs continues apace. Today we welcome COO Dr. Mike Hart and CEO Tomas Sipos of psychedelic company Optimind Pharma to our table. Together, the two of them introduce this relatively new company which they describe as an emerging leader in psychedelic therapy, partnered with developers of psilocybin associated treatments and products.
You may recognize that Dr. Hart has been a guest interviewed here at The Dales Report before as a doctor at London Ontario’s Ready To Go Clinic, which has specialized in ketamine and cannabis treatments, he has been published twice on the use of ketamine, and he also hosts his own podcast, Heart to Hart. Here’s some highlights from the interview.
Optimind Pharma In Psychedelic Sector, Initially Rolling Out More Clinics For Ketamine Treatment
Sipos says, “Bottom line is we are in the psychedelic sector, we have a clinic, and a model to roll out more clinics. For right now, ketamine treatment, but in the future, psilocybin and more.” On the business end of things, Sipos says that are in the application process for a controlled substance license with Health Canada. He also indicates it would be a joint venture with First Nations.
Their facility is just north of Montreal. The facility plans to produce psilocybin and R&D for Optimind. But for now, psilocybin is down the road. Dr. Hart affirms that right now ketamine will be the offering in clinics.
Why Are The First Nations Community A Big Focus For Optimind?
Optimind has a joint venture with Manitari Pharma, who already has a relationship with Health Canada. Optimind Pharma’s collaborative licensing and R&D agreement with the Mohawk community through Manitari Pharma would help them gain access to psychedelic fungi for microdosing. The joint venture, Sipos says, would give them excellent full vertical integration, from production to R&D, to clinics.
Sipos believes the First Nations communities would find this kind of treatment helpful as well. Dr. Hart agrees, saying mental health is a large issue for the Indigenous populations of Canada. The suicide rates alone are astronomical.
Psychedelic Clinics Rollout Likely To Be Franchising, Optimind In Process Of Going Public
When asked what the expansion growth plan would be over the next 12 to 24 months, Sipos said Optimind is currently talking to people who are interested in taking up ownership, franchising out more psychedelic and wellness clinics. Dr. Hart also has many contacts who have expressed in being a franchisee.
Sipos adds that Optimind is in the process of going public, and they intend to use the funds that come with that to grow the network.
Be sure to listen to the full interview, to see how Dr. Hart became associated with the project. Shadd also inquires about Optimind’s investor deck and business model, and about the feedback on ketamine itself.