Novamind's subsidiary Cedar Psychiatry has administered over 5,000 ketamine treatments and over 2,000 Spravato™ treatments
TORONTO, ON / ACCESSWIRE / January 28, 2021 / Novamind Inc. (CSE:NM) ("Novamind"), a leading mental health company specialized in psychedelic medicine, is proud to announce significant milestones at its Cedar Psychiatry clinics: administering over 5,000 ketamine treatments and over 2,000 Spravato™ treatments.
Launched in 2016, Cedar Psychiatry is a leading provider of innovative, evidence-based mental health therapies in the United States.
Clients receiving ketamine treatment at Novamind's Cedar Psychiatry clinics are offered specialized therapy, pre- and post-ketamine-administration (ketamine-assisted psychotherapy). Cedar Psychiatry specializes in evidence-based therapeutic protocols that facilitate the integration of ketamine experiences and optimize treatment outcomes for clients.
The number of ketamine treatments administered at Cedar Psychiatry clinics grew 90% from 2019 to 2020. During the same period, total Spravato™ treatments at Cedar Psychiatry clinics have grown over 400%. Spravato™ is a version of ketamine that was approved by the U.S. FDA for treatment-resistant depression (TRD) in March 2019, and for major depressive disorder (MDD) with suicidal ideation or behaviour in August 2020. Clinical research studies that supported FDA approval showed that Spravato™ can effectively benefit people with these conditions, which can be difficult to treat.
"Spravato™ requires specialized infrastructure and processes that can be difficult for small mental health practices to implement, but Cedar Psychiatry has the scale and expertise to effectively manage the challenges of offering these novel medications to our clients," commented Dr. Reid Robison, Chief Medical Officer and Director of Novamind.
"The need for innovative mental health services has never been greater. This demand is reflected in a sharp increase in visits to our clinics, and the growing adoption by our clients of alternative mental health treatments" added Yaron Conforti, CEO and Director of Novamind.
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly-owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit www.novamind.ca.
Bill Mitoulas, Investor Relations
Telephone: +1 (647) 953 9512
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
SOURCE: Novamind Inc.
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