Psychedelic medicine biotech company MindMed (OTCQB: MMEDF) said it will acquire HealthMode for roughly C41 million. HealthMode is a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. The acquisition will give MindMed access to HealthMode’s Intellectual Property, platforms for clinical drug trials, and its entire twenty-four-person digital medicine team. MindMed said it will incorporate HealthMode’s machine learning (ML) engineering, product development, and operations employees into its newly established digital medicine division, Albert.
Revive Therapeutics Ltd. (OTC: RVVTF) entered into an agreement with Newscope Capital Corporation (OTCQB: PHRRF) to buy PharmaTher Inc.’s intellectual property pertaining to psilocybin for roughly C$10 million. PharmaTher is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals.
Field Trip Health Ltd. (OTCQX: FTRPF) reported its third fiscal quarter results for the three ending in December. Patient services revenues of $316,329 represented a 235% increase over the previous quarter. Net loss for the third fiscal quarter was $8 million.
Champignon Brands Inc. (OTCQB: SHRMF) announced it will withdraw and refile its condensed interim consolidated financial statements and MD&A for the three and six month periods ended March 2020. The restatement is related to previously recognized intangible assets in connection with the acquisitions of Artisan Growers, Novo Formulations and Tassili Life Sciences for roughly $12 million.
That’s it for this week. Psychedellux has been brought to you by the Green Market Report.