Havn CEO Tim Moore on Psychedelics Industry: “We’re an Industry of Hope”
After a period of relative quiet triggered by bought deal financing, Havn is back in the news scene. The Dales Report had Tim Moore, CEO of psychedelics company Havn Life Science for a chat on what’s ahead for the company in 2021.
For those unfamiliar with Havn, the company has hands in both research and retail. They are in possession of a Health Canada exemption that allows them to research and develop psychedelic compounds. On the retail side, they’re working towards acquiring their part of the vitamin and minerals market.
Here’s a few of the highlights from the interview:
The Closure on $C11.5m Bought Deal Financing and Where the Money’s Headed
Moore says that the lack of recent news from Havn in an industry that has been relatively active was because Havn was required to issue a short form prospectus. Once the document had been created, they were unable to issue news or be involved in material negotiations without having to issue a new one.
Once the money was received and the news was released in December of 2020, Havn moved quickly to purchase a manufacturing facility. So far, Moore says, everything’s in line with the business plan that they’ve already articulated to “accelerate or amplify that plan.”
Q2 should have more news from Havn Life Sciences, and Moore says other discussions are in the works, but he’s unable to detail at this time.
Recent Partnerships and Products for Havn Life Sciences
Havn is releasing 7 capsule-form neutraceutical products focused on human performance and cognitive health. Moore says they will be available for retail purchase in April in the Vancouver area, and the company plans to expand that footprint as quickly as possible from there.
On the psychedelics side, Havn just last month announced a partnership with HealthTech Connex Inc to be a preferred supplier of naturally derived compounds for future clinical trials by HealthTech Connex’s Centre for Neurology Studies, and to its other clinical trial partners.
Havn’s also involved in a preclinical trial partnership with a research facility affiliated with the University of New England that’s focused on inflammation and immunity, something Moore acknowledges is of interest to the company because it’s not a crowded space and they’re willing to see if there’s promise there.
Moore says Havn has two clear paths to revenue and timelines to get there. On the natural health product side, he expects they’ll be in revenue in Q2 of this year. On the pharmaceutical side, by Q4 he expects that they’ll be in revenue by having the facility to provide these compounds to clinical researchers.
Moore On Mental Health and Hope
Moore says that he’s no stranger to mental health issues, and that a very high percentage of the population is experiencing some degree of issues of their own. His belief is that psychedelics offers a better path than the current pharmaceutical solutions, which “… numb you to the point where you can get through the day. And that isn’t a way to live. What psilocybin promises is the ability to get back to normal. … To just be numb, to get through the day, leads to suicide too many times.”