Numinus Wellness (TSXV: NUMI) was one of the earliest movers in the emerging psychedelics space and on September 5, 2019 while operating under the name Salvation Botanicals it became among the first companies to successfully obtain a Health Canada Controlled Drugs and Substances Dealer’s Licence, enabling the company to test and analyze psychedelics such as Psilocybin, MDMA, and DMT.
On June 8, 2020, NUMI received approval from Health Canada to amend their existing dealer’s license under the Controlled Drug and Substances Act (Canada) to allow NUMI researchers to conduct research to standardize the extraction of psilocybin from mushrooms. The amendment made NUMI the first publicly traded company in Canada to be granted a license by Health Canada to conduct this type of research.
With this regulatory approval, NUMI is able to proceed with the production of naturally sourced, sustainable psilocybin for research purposes that will support the emerging field of psychedelic assisted therapy and research, at lower costs to currently produced synthetic psilocybin. The license also allows NUMI to develop and license its own exclusive intellectual property for further product development in partnership with leading research organizations.
The work will be eligible for the Government of Canada’s Scientific Research and Experimental Development (SR&ED) tax incentive program and will lay a foundation for grant applications.
On March 3, 2020, NUMI completed a private placement for gross proceeds of $5,745,000. These funds were raised through the issuance of 22,980,000 units at a price of $0.25 per unit with each unit consisting of one common share and one-half share purchase warrant entitling the holder to acquire one additional share at a price of $0.50 for a period of 18 months.
On September 10, 2020, NUMI completed a private placement for gross proceeds of $4,600,000. These funds were raised through the issuance of 18,400,000 units at a price of $0.25 per unit with each unit consisting of one common share and one-half share purchase warrant entitling the holder to acquire one additional share at a price of $0.35 for a period of 24 months.
On September 24, 2020, NUMI announced that it has begun cultivating Psilocybe mushrooms, for the purpose of psilocybin production, at its 7000 square-foot Health Canada licensed facility.
On November 20, 2020, NUMI formally wrote a letter to Health Canada’s Minister of Health making recommendations for the revision of Health Canada’s Special Access Programme so as to allow for consideration of applications for access to MDMA- and psilocybin-assisted psychotherapies.
You can view the full letter for yourself by clicking the link below to download the letter in PDF format.
On December 2, 2020, NUMI announced a collaboration agreement with MAPS Public Benefit Corporation that will seek approval to deliver MDMA-assisted psychotherapy for PTSD through a single-arm, open-label, compassionate access trial in Canada.
This compassionate access trial, if approved, will be conducted at NUMI’s Vancouver clinic, providing MDMA-assisted psychotherapy to an initial 20 individuals experiencing PTSD and collecting outcome and safety data for Health Canada. NUMI’s physicians, therapists and staff will be trained to deliver the treatment under MAPS’ clinically-tested PTSD treatment protocol prior to approval by Health Canada.
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