We’re onsite at the Numinus Bioscience facility in Nanaimo, BC, talking to CEO Payton Nyquvest about the company’s upcoming clinical trials, this week on The Dales Report. Numinus Biosicence is the research lab of Numinus Wellness Inc. (TSE:NUMI) (OTCMKTS: NUMIF), a mental healthcare company advancing innovative treatments and safe, evidence-based psychedelic assisted psychotherapy.
January 5 Changes To Psychedelics Under Special Access Program Have Numinus Looking For Answers
Many Canadians have had difficulty accessing psychedelics under the Special Access Program for things like end-of-life care since the changes on January 5th.
“Dr. Evan Wood, our chief medical officer, and most of our team actually helped with the briefing note together to change Special Access Program a couple years ago,” says Nyquvest. “So we’ve been in step with Health Canada for quite a while. And since the change on January 5, we’ve spent a lot of time going back and forth to Health Canada to really understand from the from the application side of things, what exactly does Health Canada want to see on the applications in order to get these approved.”
Nyquvest says there has been quite a bit of back and forth about how Canadians will need to apply since these changes but feels confident that now Numinus understands what will be required to apply. It is unknown, however, when Special Access clients may begin using, as to some extent they are still at the mercy of the Health Canada regulatory approvals process.
Nyquvest Feels Psychedelic Treatment Protocols Should Fit Under Universal Healthcare
“The interesting thing about the Special Access Program is there are other drugs and products that flow through the Special Access Program that do get covered by Health Canada,” says Nyquvest. “And I think there is a very strong argument is, if Health Canada is willing to approve these treatments to be used, then there should be an argument that they should be covered under a universal health care system.”
Nyquvest says that adoption of psychedelic assisted psychotherapy in the United states, under their insurance programs, will help make the argument for supporting treatment under Canada’s healthcare system. That said, he acknowledges there may be out-of-pocket costs for patients hoping to receive these drug treatments under the Special Access Program, at least early on.
Numinus Bioscience And Numinus Wellness Have A Synergistic Relationship, Says Nyquvest
“When we’re talking about psychedelic assisted therapy, there’s two components, there’s the therapeutic container, and then there’s the drug product side. And the two sides of the business in itself, in a sense, really have been able to work synergistically with one another,” says Nyquvest.
With the ability to develop on the drug product side and be able to inform and integrate into the physical locations, Nyquvest feels that this represents the capability of achieving the best possible outcomes for patients.
Just this week, Numinus Bioscience was approved by the Public Health Agency of Canada for a Containment Level 2 (CL2) pathogens and toxins license, following upgrading of the facility. The importance of this approval is not to be understated, as it allows for the following studies.
Watch the full interview above to hear how Nyquvest’s personal experiences helped bring passion to Numinus Wellness, and more for investors on Numinus’ corporate positioning in Europe and for 2022.