Numinus Wellness Inc - NUMIF stock

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 | OTC Tier: OTCQX International | Related ticker symbols: TSX: NUMI

About Numinus Wellness

Numinus Wellness Inc. (OTC: NUMIF, TSX: NUMI)is a Canadian-based mental health and wellness company that is focused on the research, development, and delivery of psychedelic-assisted psychotherapy. The company was founded in 2018 and is headquartered in Vancouver, British Columbia.

The company's symbol changed from LKYSF to NUMIF on 11/22/2021.

Research

Numinus Wellness is licensed by Health Canada to conduct research on psilocybin and other psychedelic compounds. The company is also focused on developing safe and effective methods for delivering psychedelic therapies, and operates several clinics where patients can receive these treatments under the supervision of trained medical professionals.

Numinus is one of several companies that are working to develop psychedelic-assisted therapies, which have shown promising results in the treatment of various mental health conditions, including depression, anxiety, and addiction. As interest in these therapies grows, Numinus Wellness is well-positioned to play a leading role in this emerging field.

The company is seeking to conduct clinical trials related to MDMA-assisted psychotherapy treatments using practitioners. If the application is accepted by Health Canada, the trial will enable Numinus to establish the best number of therapists to most effectively run MDMA-assisted group psychotherapy programs.

Cybin

Numiness' Cedar Clinical Research has been selected for Cybin's Phase 3 multinational clinical trial of CYB003, which is being developed to treat Major Depressive Disorder, a condition which affects over 20 million Americans. In Cybin's Phase 2 trial, 75% of participants achieved remission from depression symptoms four months after receiving CYB003, demonstrating the compound's promising effects and leading to the U.S. Food and Drug Administration (FDA) granting it breakthrough therapy designation. The Phase 3 trial, scheduled to begin enrollment in mid-2024, will further investigate the safety and efficacy of CYB003. Led by Dr. Paul Thielking, Numinus's Chief Science Officer and the trial's Principal Investigator, the study aims to explore CYB003's potential to address a significant unmet need in mental health care.

Products

In addition to its research and clinical work, Numinus Wellness is also involved in the production and distribution of natural health products, including medical cannabis. The company's goal is to provide people with new and innovative ways to improve their mental health and overall well-being.

Mergers, Acquisitions and Partnerships

MedBright AI

Numinus announced in June, 2024, that the company intends to acquire MedBright AI. Numinus will issue 1.86 common shares of Numinus stock for each MedBright AI share, with approximately 204,729,372 shares being issued to complete the transaction. This issuance will represent about 39% ownership of the combined company based on the values of Numinus and MedBright AI at the time of the announcement.

MedBright AI utilizes artificial intelligence and machine learning to help medical professionals increase healthcare access, reduce costs, and improve patient outcomes. With the Proposed Transaction, Numinus plans to integrate its extensive expertise in traditional therapy, clinic management, patient care, insurance reimbursement, and psychedelic-assisted therapy into a unique AI-enabled offering ("AI Offering") for the expanding U.S. mental health care sector. This AI Offering will capitalize on Numinus' leading experience and data in providing reimbursed care for drug-assisted therapy, enabling therapists to tackle the challenge of building the necessary infrastructure for generating reimbursed revenue.

To reflect its new strategic direction, the Company plans to rebrand as Numinus Intelligence upon closing, emphasizing its commitment to using AI and data science to enhance mental health services and solutions across the U.S.