Field Trip Health Ltd. (CSE: FTRP) has become the latest psychedelic treatment company to go public through a reverse takeover of Newton Energy Corp. The company began trading today on the Canadian Securities Exchange under the symbol FTRP.
Joseph del Moral, CEO of Field Trip, said, “Our public listing will increase our visibility among investors as we continue our work to transform attitudes and approaches to mental, emotional and behavioral health through psychedelics. Transparency and open communication with our shareholders will remain a top priority going forward. I would encourage those investors who are interested in following our progress to explore the new website in more detail.”
The new site Mr. Moral mentioned is https://www.meetfieldtrip.com provides details of Field Trip’s integrated platform which combines psychedelic-enhanced psychotherapy, technology-enabled clinical hubs, and telehealth remote care, and drug and product development.
Moral and his Co-founder Ronan Levy bring to the psychedelic world expertise in creating cannabis clinics in Canada. The two created CanvasRx Inc. and Canadian Cannabis Clinics, which grew to be the largest cannabis clinic company in Canada. In 2016, CanvasRx was acquired by Aurora Cannabis Inc. (NYSE: ACB) and Moral joined Aurora’s board of directors. Levy served as Senior Vice President, Business and Corporate Affairs, for Aurora.
Successful closings of two external financings have brought in approximately $24 million to fund growth and propel Field Trip forward in the mission to bringing people to life through psychedelic therapies. The company is essential divided into three categories Health (clinics), Discovery (R&D), and Trip (digital).
Field Trip Health
Field Trip Health is reimagining the mental health clinic with intentionally designed, technologically-empowered psychedelic-assisted psychotherapy centers across North America. With an ambitious and unparalleled expansion strategy and clear growth milestones either already met or on schedule, including an aggressive rollout of 75 clinics by 2023 and revenue growth from the 3 recently-launched clinics in Toronto, New York and Los Angeles (opened in H1 2020), Field Trip Health is establishing itself as the leader in psychedelic therapies. The team has secured partnerships with psychologists, doctors and medical centers to ensure a hard-to-replicate referral network across all locations.
The Field Trip Health approach is an evidence-based, medically-supervised psychedelic therapy protocol personalized by client background and goals. We support individuals who are looking to heal from tough-to-beat mental illnesses like PTSD and depression, as well as those simply looking to grow and expand empathy, increase creativity and feel a deeper connection to themselves, others and the planet.
Field Trip Discovery
Field Trip Discovery, our R&D division, was created to do just that: research, develop and eventually commercialize psychedelic-inspired regulated products and medicines.
Field Trip Discovery’s primary focus is in developing novel, patented, regulated medicines targeting the serotonin 5HT2A serotonin receptor, which is believed to be the primary receptor involved in psychedelic experiences and responsible for the use of these substances to treat mental disorders, including depression and anxiety.
Discovery’s first molecule in development, FT-104, is a synthetic psychedelic molecule for which anecdotal information indicates unique and useful pharmacological features that could make FT-104 a more commercially viable alternative to naturally-derived substances, such as DMT, 5-MeO-DMT, psilocybin and LSD. The pharmacological activity of FT-104 has been confirmed and it is currently in preclinical evaluation. Field Trip anticipates initial Phase 1 clinical studies in 2021. A provisional patent relating to FT-104 composition and use has been filed with the USPTO (63,045,901; June 30, 2020).
Trip, Field Trip Digital’s first iOS and Android app for consciousness expansion, was launched in mid August 2020 and has since been featured in Wired, Product Hunt, Yahoo, Business Insider, DoubleBlind, Green Entrepreneur, Market Watch, and FreeThink. Trip blends modern neuroscience with the wisdom of psychology to take you on a self-guided journey and help you make the most of your consciousness-expanding experiences through intention setting, mood tracking, personalized music, mindfulness content, and more. Download Trip now on iOS or Android.