ketamine Archives - Green Market Report

Tee CorleyJuly 21, 2020
Sublingual-Ketamine-1-scaled.jpg?fit=1200%2C800&ssl=1

6min12631

The psychedelic industry is seeing a boom in the creation and expansion of ketamine clinics. The growth is in this industry has come about as the acceptance of the medical marijuana industry spread across North America. A group of medical professionals believes that this stigmatized substance may offer effective treatment for those suffering from mental health crises.

Known colloquially as special K, super acid, and cat valium, ketamine was added to the U.S. schedule of controlled substances in 1999. A “dissociative anesthetic,” ketamine has a street reputation for its dream-like high.

The illegal use of ketamine for recreation shrouds this medication in the familiar stigma that befell medical marijuana.

As the world changes and cases of mental health disorders rise, however, progressive medical researchers like Dr. Robert McIntyre of the Canadian Rapid Treatment Centre of Excellence (CRTCE) sees potential in ketamine for people who haven’t found relief with SSRIs, benzodiazepines or other prescription antidepressants and antianxiety medications.

What does the research say?

Dr. McIntyre recently released two new research studies in which patients suffering from suicidality, major depressive disorder (MDD), generalized anxiety disorder (GAD) and bipolar disorder (BD) were introduced to a new treatment: IV ketamine.

According to the researchers, these community trials were performed on patients who have previously tried prescription antidepressants in the past with little to no effect.

In February 2020, Dr. McIntyre and his team performed a review of the current data surrounding ketamine. The sheer number of trials the researchers analyzed, totalling 119 relevant and completed random clinical trials, suggests that Dr. McIntyre isn’t alone in recognizing the potential for IV ketamine.

Furthermore, these trials showed that IV ketamine given in a single dose of 0.5mg/kg over the course of 40 minutes had positive results lasting for a week. A few studies delivered 2 doses per week over the course of two weeks with positive results.

In his team’s study, published in May 2020, Dr. McIntyre and his team tested a single dose of IV ketamine on patients with treatment-resistant mood disorders. Specifically, this study measured the effects of IV ketamine on people with anxiety, irritability and agitation (AIA) and treatment-resistant major depressive disorder (MDD) and bipolar disorder (BD).

While the research is preliminary, with most studies, like this one, in phase II, the results are promising. Dr. McIntyre told us that these studies suggest “IV ketamine is effective in rapidly treating AIA and suicidal ideation in adults with treatment-resistant mood disorders.”

Why IV ketamine?

Yes, there are other ways for patients to get treatment with ketamine. Contacting your local dealer is not one of them.

Ketamine can be made into powders and pills, but these methods of administration are simply not as effective as taking ketamine intravenously and under the care of a medical professional. Dr. McIntyre explained that oral routes of administration are only about 10-20% bioavailable.

In March 2019, the FDA approved an intranasal form of ketamine called esketamine. This method is 50-60% absorbed by your body.

IV ketamine can be administered in under an hour and is 100% bioavailable. This means patients can get in and out and feeling better much more quickly and efficiently.

How soon will IV ketamine disrupt the pharmaceutical market?

Unfortunately, that’s a tough call to make. However, Dr. McIntyre points out that in the past decade, phase I, II and III trials have greatly increased. Phase III trials can make or break a product.

Still, Dr. McIntyre’s review of existing analyses shows what kinks still need to be resolved. For example, we have yet to control for size, weight and gender. Additionally, long term studies need to be conducted to determine the efficacy of repeated doses and how well ketamine is tolerated over time.

Our advice? Keep an eye on this market. The potential for a better way to treat complex mood disorders via IV ketamine seems apparent—an implication too important to ignore.


Debra BorchardtMay 12, 2020
Sublingual-Ketamine-scaled.jpg?fit=1200%2C800&ssl=1

4min22030

Psychedelic medicine company Champignon Brands Inc.   (OTCQB: SHRMF) is acquiring California based ketamine treatment company Wellness Clinic of Orange County Inc. It is a cash and stock deal with Champignon paying  $600,000, plus 1 million common shares of Champignon and 500,000 common shares of Champignon payable only if the Wellness Clinic collects top-line revenue of at least $1,500,000, over the 18-month period.

“We are thrilled to begin executing on our North American expansion strategy by acquiring our first U.S. based, revenue-generating ketamine center- Wellness Clinic of Orange County,” said Dr. Roger McIntyre, Chief Executive Officer, Champignon. “This acquisition represents a major milestone as we begin to accelerate our vision of establishing significant scale and a sizable footprint of integrated ketamine centric clinics committed to providing innovative care and therapeutic options to improve the quality of life of patients suffering from chronic disease states that have failed conventional treatments.”

McIntyre was just appointed the company’s new CEO on May 11. He is a Professor of Psychiatry and Pharmacology at the University of Toronto and Head of the Mood Disorders Psychopharmacology Unit at the University Health Network, Toronto, Canada. Dr. McIntyre is also Executive Director of the Brain and Cognition Discovery Foundation in Toronto; Director and Chair of the Scientific Advisory Board of the Depression and Bipolar Support Alliance (DBSA) in Chicago, Illinois.; Professor and Nanshan scholar at Guangzhou Medical University; and Adjunct Professor at the College of Medicine at Korea University.

The Wellness Clinic owns and operates a state-of-the-art ketamine infusion treatment center located within the Mission Hospital’s Laguna Beach campus. This clinic is actively involved in research and complementary treatment protocols. Supported by a breadth of peer-reviewed studies, as well as clinical trials, intravenous ketamine has emerged as a promising treatment option for many chronic diseases, such as depression, anxiety, post-traumatic stress disorder, fibromyalgia, and certain other pain disorders.

Dr. Michael Bronson of Wellness Clinic of Orange County said, “This is an exceptional opportunity to both collaborate and scale with Dr. McIntyre and the world-class team at Champignon; with the objective of remaining at the forefront of innovation in this burgeoning field.  We are excited for our patients, both current and future, as we work to provide them with the therapeutic options that they deserve.”

Terms

According to the company statement, the Initial Share Issuance shall be paid upon closing of the Acquisition, subject to a 12-month escrow, with 500,000 common shares released 6 months following the closing of the Acquisition and the remaining 500,000 shares released 12-months following the closing of the Acquisition. Each of the Initial Share Issuance and the Second Share Issuance are to be issued at a price per share determined using the average trading price of the common shares in accordance with the Canadian Securities Exchange (CSE) policies and applicable securities law. 

 


Debra BorchardtApril 10, 2020
shutterstock_223966228-scaled.jpg?fit=960%2C636&ssl=1

5min22070

Mushroom company Champignon Brands Inc. (OTC:SHRMF) has entered into a definitive agreement to acquire Canadian ketamine clinic operator AltMed Capital Corp. Champignon said that AltMed has a suite of assets that will hasten Champignon’s anticipated rollout of new clinics to be opened across the United States and Canada. Five new clinics in key markets, including New York, Florida and California, are anticipated to be fully operational by Q4 2020.

Deal Terms

Champignon will buy all the shares of AltMed for a total consideration of 55,124,000 common shares, common shares that are currently selling at roughly $0.59 placing a value on the deal of approximately $32 million. 16,522,000 shares will be subject only to applicable hold periods under securities legislation and 38,602,000 will be subject to voluntary resale restrictions and released in five equal tranches every three months with the first release commencing thirty days following closing.

AltMed Clinics

AltMed owns 75% of the CRTCE, a fully operational ketamine clinic located in Mississauga, Ontario, with over 18 months of operating history. The CRTCE was licensed in 2018 by the College of Physicians and Surgeons Ontario under OHPP (Out of Hospital Premise Program) to administer ketamine treatments for indications including but not limited to depression, bipolar disorder, post-traumatic stress disorder (PTSD) and obsessive-compulsive disorder (OCD).

The clinic has been licensed by Health Canada to dose eligible patients with psilocybin and is the only clinic in Canada to perform psilocybin doses under Health Canada approval. AltMed’s chief executive officer, Dr. Roger McIntyre, is a professor of psychiatry and pharmacology at the University of Toronto and head of the Mood Disorders Psychopharmacology Unit at the University Health Network, Toronto, Canada.

“Founded and operated by Dr. McIntyre, the CRTCE has the human capital and unmatched R&D capabilities, with respect to rapid onset treatments such as ketamine, to revolutionize the treatment of depression, PTSD and substance use disorders,” said Gareth Birdsall, CEO of Champignon. “Champignon and AltMed will leverage Dr. McIntyre’s expertise, alongside the CRTCE’s existing SOPs, data-driven research sets and practitioner education modules, to roll out five unique ketamine clinics across Florida, California and the U.S. Eastern Seaboard. Our additional ketamine clinics are projected to be fully operational by Q4 2020. Furthermore, having previously completed funding rounds, our acquisition of AltMed will further bolster our corporate treasury.”

Study Trials

With this acquisition, Champignon will now have three trials in the Phase I stage and three trials in the preclinical stage during 2020. The company will also have seven IP patents for its ketamine/psilocybin delivery platforms and formulations.

In the second half of 2020, AltMed said it will start both comprehensive R&D campaigns as well as clinical trials, to be led and administered by leading M.D.s, clinicians, and researchers targeting the following indications:

  • Treatment-Resistant Depression (Dr. Roger McIntyre)
  • Addiction (Dr. Peggi Shepherd DeGroote)
  • PTSD/Traumatic Brain Injury (Dr. David Greenberg and Dr. Michel Rathbone)
  • Aging/Dementia (Dr. DW Molloy)
  • Anxiety/Obsessive-Compulsive Disorder (Dr. Michael Van Amerigan)

Pat McCutcheon, director of AltMed, said in a statement: “Together with Champignon’s existing novel ketamine delivery platforms, associated patents/IP and now advanced clinical infrastructure, we will look to deliver approved, point-of-care psychedelic treatments in clinics throughout Canada and the United States. Ketamine, psilocybin and MDMA have all been fast-tracked by the FDA and Health Canada with respect to R&D in DPS, and we will look to monetize our capabilities and human capital within this domain. Led by our accomplished operational team, comprised of experienced clinicians, academics and thought leaders within dynamic, blue-sky industries, we will be the global leader with regard to the application of rapid onset treatments and will continue to be a first-in-class, vertically integrated center that champions R&D, clinical research, knowledge translation, vocational rehabilitation, and psychotherapeutics, offering patient populations a wholesome and comprehensive treatment ecosystem.”


Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 2 days

Lots of moves this week in . Check it out in this week’s video

Back to Top